Top 5 From Cathie Wood’s Q2 Portfolio

4. Block, Inc. (NYSE:SQ)

ARK Investment’s Stake Value: $799,455,000

Percentage of ARK Investment’s 13F Portfolio: 4.72%

Number of Hedge Fund Holders: 72

Block, Inc. (NYSE:SQ) is an IT company working to create tools that enable sellers to accept card payments. The company also offers reporting and analytics, alongside next-day settlement services.

Mizuho’s Dan Dolev reiterated a ‘Buy’ rating on Block, Inc. (NYSE:SQ) shares on August 8 and has a $135 price target on the stock.

The company’s second quarter EPS was $0.18, beating estimates by $0.01. Block, Inc. (NYSE:SQ) had revenue of $4.4 billion, also beating estimates by $69.5 million. Over the next three-to-five years, the company’s EPS is expected to grow by 12.5%.

There were 72 hedge funds long Block, Inc. (NYSE:SQ) in the second quarter, and 84 hedge funds long the stock in the previous quarter. Their total stake values were $3.5 billion and $6.2 billion respectively.