Billionaire Ken Fisher and Corporate Insiders Are Buying These 5 Stocks

This article presents an overview of the Billionaire Ken Fisher and Corporate Insiders Are Buying These 5 Stocks. For a detailed overview of such stocks, read our article, Billionaire Ken Fisher and Corporate Insiders Are Buying These 10 Stocks.

5. Block Inc (NYSE:SQ)

Ken Fisher’s Stake: $2,123,545

Block Inc (NYSE:SQ) ranks fifth in our list of the stocks in Ken Fisher’s portfolio that saw insider buying activity over the past few months. Roelof Botha, a director at Block Inc’s (NYSE:SQ) board, loaded up on 540,646 SQ shares at $50.89 per share on November 11. Since then through March 13 the stock has gained about a whopping 66%.

Ken Fisher’s hedge fund owns a $2.12 million stake in Block Inc (NYSE:SQ) as of the end of the fourth quarter of 2023.

Here is what Baron FinTech Fund has to say about Block, Inc. (NYSE:SQ) in its Q3 2023 investor letter:

“Block, Inc. provides point-of-sale technology to small businesses and operates the Cash App ecosystem of financial services for individuals. Shares fell due to a confluence of factors, including slowing growth, a brief system outage, and the departure of a key executive who ran the Square business segment. Ongoing investor concerns over consumer spending and a recession did not help sentiment. Nevertheless, Block reported strong quarterly results with 27% gross profit growth and adjusted EBITDA more than doubling. We believe Block’s businesses are resilient, and greater management focus on cost discipline should drive further margin expansion. We continue to own the stock due to Block’s long runway for growth, durable competitive advantages, and track record of innovation.”