Landscape Capital Management L.L.C. Takes $2.87 Million Position in Block, Inc. (NYSE:SQ)

Landscape Capital Management L.L.C. bought a new stake in Block, Inc. (NYSE:SQ - Free Report) during the third quarter, according to its most recent filing with the SEC. The firm bought 42,774 shares of the technology company's stock, valued at approximately $2,871,000.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the company. SouthState Corp boosted its stake in Block by 85.3% during the 3rd quarter. SouthState Corp now owns 391 shares of the technology company's stock valued at $26,000 after purchasing an additional 180 shares during the period. LRI Investments LLC acquired a new stake in shares of Block in the first quarter worth $34,000. Unique Wealth Strategies LLC acquired a new position in Block during the 2nd quarter valued at $34,000. V Square Quantitative Management LLC bought a new stake in Block in the 3rd quarter valued at $46,000. Finally, Migdal Insurance & Financial Holdings Ltd. bought a new position in shares of Block during the 2nd quarter worth about $44,000. Institutional investors and hedge funds own 70.44% of the company's stock.

Block Stock Performance

Shares of SQ stock opened at $89.69 on Thursday. The stock has a market cap of $55.59 billion, a PE ratio of 50.39, a price-to-earnings-growth ratio of 1.25 and a beta of 2.48. The stock has a 50-day moving average of $72.68 and a 200-day moving average of $67.82. The company has a debt-to-equity ratio of 0.26, a current ratio of 2.07 and a quick ratio of 2.07. Block, Inc. has a one year low of $55.00 and a one year high of $93.00.

Insider Buying and Selling at Block

In other news, insider Brian Grassadonia sold 1,884 shares of the business's stock in a transaction dated Wednesday, October 2nd. The stock was sold at an average price of $65.41, for a total value of $123,232.44. Following the sale, the insider now directly owns 574,914 shares in the company, valued at $37,605,124.74. The trade was a 0.33 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CAO Ajmere Dale sold 500 shares of the company's 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 transaction, the chief accounting officer now directly owns 90,460 shares of the company's stock, valued at $6,060,820. This represents a 0.55 % decrease in their ownership of the stock. 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. Corporate insiders own 10.49% of the company's stock.

Analyst Ratings Changes

Several equities analysts recently issued reports on the company. Keefe, Bruyette & Woods boosted their price target on Block from $71.00 to $80.00 and gave the company a "market perform" rating in a research note on Friday, November 8th. Piper Sandler restated an "overweight" rating and issued a $83.00 target price on shares of Block in a research note on Monday, November 11th. BNP Paribas lowered shares of Block from an "outperform" rating to a "neutral" rating and set a $88.00 price target on the stock. in a report on Wednesday. New Street Research assumed coverage on shares of Block in a report on Monday, September 9th. They set a "neutral" rating and a $70.00 price objective for the company. Finally, Wells Fargo & Company dropped their price target 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. One analyst has rated the stock with a sell rating, six have issued a hold rating and twenty-four have given a buy rating to the stock. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price of $91.18.

About Block

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.

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