Penserra Capital Management LLC Buys 5,995 Shares of Block, Inc. (NYSE:SQ)

Penserra Capital Management LLC increased its stake in shares of Block, Inc. (NYSE:SQ - Free Report) by 2.8% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 221,083 shares of the technology company's stock after purchasing an additional 5,995 shares during the quarter. Penserra Capital Management LLC's holdings in Block were worth $14,840,000 at the end of the most recent quarter.

Several other large investors also recently bought and sold shares of SQ. Baillie Gifford & Co. boosted its holdings in shares of Block by 1.5% during the third quarter. Baillie Gifford & Co. now owns 10,233,102 shares of the technology company's stock worth $686,948,000 after purchasing an additional 147,873 shares during the last quarter. Lone Pine Capital LLC raised its holdings in shares of Block by 13.9% during 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 buying an additional 934,588 shares during the last quarter. Charles Schwab Investment Management Inc. increased its position in Block by 2.1% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 2,202,388 shares of the technology company's stock valued at $147,846,000 after acquiring an additional 45,472 shares during the period. Dimensional Fund Advisors LP raised its stake in Block by 17.8% during the 2nd quarter. Dimensional Fund Advisors LP now owns 2,157,733 shares of the technology company's stock valued at $139,143,000 after acquiring an additional 326,444 shares in the last quarter. Finally, D1 Capital Partners L.P. increased its holdings in shares of Block by 76.7% during the second quarter. D1 Capital Partners L.P. now owns 1,831,342 shares of the technology company's stock valued at $118,103,000 after purchasing an additional 795,000 shares during the period. Hedge funds and other institutional investors own 70.44% of the company's stock.

Block Stock Performance

SQ traded down $0.44 on Friday, reaching $92.26. The company had a trading volume of 9,117,000 shares, compared to its average volume of 10,421,971. The company's fifty day moving average is $73.83 and its 200 day moving average is $68.10. The company has a debt-to-equity ratio of 0.26, a quick ratio of 2.07 and a current ratio of 2.07. The stock has a market cap of $57.18 billion, a P/E ratio of 51.83, a P/E/G ratio of 1.25 and a beta of 2.48. Block, Inc. has a fifty-two week low of $55.00 and a fifty-two week high of $94.12.

Analysts Set New Price Targets

Several equities research analysts have recently commented on the company. New Street Research started coverage on Block in a report on Monday, September 9th. They set a "neutral" rating and a $70.00 target price for the company. William Blair reiterated an "outperform" rating on shares of Block in a research report on Friday, November 15th. Oppenheimer assumed coverage on shares of Block in a research note on Tuesday, October 1st. They issued a "market perform" rating on the stock. Canaccord Genuity Group raised their price target on Block from $95.00 to $120.00 and gave the stock a "buy" rating in a research note on Tuesday, November 12th. Finally, UBS Group dropped their price objective on Block from $100.00 to $92.00 and set a "buy" rating on the stock in a report on Tuesday, August 27th. One investment analyst has rated the stock with a sell rating, six have given a hold rating and twenty-four have assigned a buy rating to the company. Based on data from MarketBeat.com, Block currently has an average rating of "Moderate Buy" and an average target price of $91.18.

Insider Activity

In other Block news, CAO Ajmere Dale sold 500 shares of the stock in a transaction dated Tuesday, October 1st. The stock was sold at an average price of $67.00, for a total value of $33,500.00. Following the completion of the transaction, the chief accounting officer now directly owns 90,460 shares in the company, valued at approximately $6,060,820. This trade represents a 0.55 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Chrysty Esperanza sold 2,964 shares of the company's stock in a transaction on Monday, November 11th. The shares were sold at an average price of $80.00, for a total transaction of $237,120.00. Following the sale, the insider now directly owns 88,607 shares in the company, valued at $7,088,560. This trade represents a 3.24 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 12,283 shares of company stock valued at $862,773. 10.49% of the stock is owned by company 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.