SRN Advisors LLC Has $882,000 Position in Block, Inc. (NYSE:SQ)

SRN Advisors LLC lessened its stake in Block, Inc. (NYSE:SQ) by 48.9% during the 3rd quarter, Holdings Channel reports. The institutional investor owned 13,132 shares of the technology company’s stock after selling 12,584 shares during the quarter. SRN Advisors LLC’s holdings in Block were worth $882,000 as of its most recent SEC filing.

Several other large investors have also recently added to or reduced their stakes in SQ. Vanguard Group Inc. grew its holdings in shares of Block by 0.9% during the 1st quarter. Vanguard Group Inc. now owns 36,511,250 shares of the technology company’s stock valued at $3,088,122,000 after acquiring an additional 318,549 shares in the last quarter. Capital World Investors boosted its position in Block by 4.7% during the first quarter. Capital World Investors now owns 13,096,614 shares of the technology company’s stock valued at $1,107,712,000 after purchasing an additional 582,826 shares during the last quarter. Baillie Gifford & Co. grew its stake in Block by 45.7% in the second quarter. Baillie Gifford & Co. now owns 10,085,229 shares of the technology company’s stock valued at $650,396,000 after purchasing an additional 3,163,975 shares in the last quarter. Lone Pine Capital LLC grew its stake in Block by 13.9% in the second quarter. Lone Pine Capital LLC now owns 7,670,523 shares of the technology company’s stock valued at $494,672,000 after purchasing an additional 934,588 shares in the last quarter. Finally, Dimensional Fund Advisors LP increased its position in Block by 17.8% in the 2nd quarter. Dimensional Fund Advisors LP now owns 2,157,733 shares of the technology company’s stock worth $139,143,000 after purchasing an additional 326,444 shares during the last quarter. Institutional investors and hedge funds own 70.44% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on SQ. New Street Research started coverage on Block in a report on Monday, September 9th. They set a “neutral” rating and a $70.00 price target for the company. Deutsche Bank Aktiengesellschaft lifted their target price on shares of Block from $90.00 to $98.00 and gave the company a “buy” rating in a research note on Friday, July 12th. Wells Fargo & Company decreased their target price on shares of Block from $95.00 to $85.00 and set an “overweight” rating for the company in a research report on Friday, August 2nd. Benchmark restated a “buy” rating and set a $99.00 price target on shares of Block in a report on Friday, August 2nd. Finally, UBS Group decreased their price objective on shares of Block from $100.00 to $92.00 and set a “buy” rating for the company in a report on Tuesday, August 27th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating, twenty-four have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, Block presently has a consensus rating of “Moderate Buy” and a consensus price target of $88.79.

Block Trading Up 0.1 %

Block stock opened at $72.61 on Friday. Block, Inc. has a 12 month low of $38.85 and a 12 month high of $87.52. The stock has a market cap of $44.80 billion, a price-to-earnings ratio of 94.30, a price-to-earnings-growth ratio of 0.99 and a beta of 2.49. The business has a 50 day moving average price of $67.22 and a two-hundred day moving average price of $67.02. The company has a quick ratio of 1.82, a current ratio of 1.82 and a debt-to-equity ratio of 0.26.

Block (NYSE:SQ) last issued its earnings results on Thursday, August 1st. The technology company reported $0.93 EPS for the quarter, beating analysts’ consensus estimates of $0.84 by $0.09. Block had a return on equity of 3.77% and a net margin of 3.47%. The business had revenue of $6.16 billion during the quarter, compared to analyst estimates of $6.27 billion. During the same period in the prior year, the company posted $0.40 earnings per share. Block’s revenue was up 11.2% on a year-over-year basis. As a group, equities analysts forecast that Block, Inc. will post 1.71 EPS for the current year.

Insider Activity

In other news, CAO Ajmere Dale sold 500 shares of Block stock in a transaction dated Tuesday, August 13th. The shares were sold at an average price of $61.88, for a total transaction of $30,940.00. Following the sale, the chief accounting officer now directly owns 92,366 shares in the company, valued at approximately $5,715,608.08. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, Director Roelof Botha purchased 434,405 shares of the stock in a transaction on Tuesday, August 6th. The shares were purchased at an average cost of $57.55 per share, for a total transaction of $25,000,007.75. Following the completion of the transaction, the director now directly owns 434,405 shares of the company’s stock, valued at approximately $25,000,007.75. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CAO Ajmere Dale sold 500 shares of Block stock in a transaction on Tuesday, August 13th. The shares were sold at an average price of $61.88, for a total value of $30,940.00. Following the transaction, the chief accounting officer now directly owns 92,366 shares of the company’s stock, valued at approximately $5,715,608.08. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 25,214 shares of company stock worth $1,637,932. 10.49% of the stock is currently owned by corporate insiders.

Block Profile

Square, Inc provides payment and point-of-sale solutions in the United States and internationally. The company's commerce ecosystem includes point-of-sale software and hardware that enables sellers to turn mobile and computing devices into payment and point-of-sale solutions. It offers hardware products, including Magstripe reader, which enables swiped transactions of magnetic stripe cards; Contactless and chip reader that accepts EMV® chip cards and Near Field Communication payments; Chip card reader, which accepts EMV® chip cards and enables swiped transactions of magnetic stripe cards; Square Stand, which enables an iPad to be used as a payment terminal or full point of sale solution; and Square Register that combines its hardware, point-of-sale software, and payments technology, as well as managed payments solutions.