Block, Inc. (NYSE:SQ) Shares Sold by XY Capital Ltd

XY Capital Ltd decreased its position in shares of Block, Inc. (NYSE:SQ - Free Report) by 81.2% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 15,686 shares of the technology company's stock after selling 67,653 shares during the quarter. Block accounts for approximately 0.6% of XY Capital Ltd's investment portfolio, making the stock its 13th largest holding. XY Capital Ltd's holdings in Block were worth $1,012,000 at the end of the most recent quarter.

A number of other large investors have also recently bought and sold shares of the company. Bares Capital Management Inc. raised its stake in shares of Block by 2.0% during the 4th quarter. Bares Capital Management Inc. now owns 4,487,251 shares of the technology company's stock valued at $347,089,000 after buying an additional 87,826 shares during the last quarter. Trivest Advisors Ltd purchased a new position in Block during the fourth quarter valued at approximately $157,021,000. Vanguard Group Inc. lifted its holdings in Block by 3.7% in the fourth quarter. Vanguard Group Inc. now owns 36,192,701 shares of the technology company's stock valued at $2,799,505,000 after acquiring an additional 1,277,043 shares during the period. &PARTNERS boosted its position in Block by 8.3% in the 1st quarter. &PARTNERS now owns 8,641 shares of the technology company's stock worth $731,000 after purchasing an additional 659 shares in the last quarter. Finally, Cibc World Markets Corp acquired a new stake in shares of Block during the 4th quarter worth approximately $1,184,000. Hedge funds and other institutional investors own 70.44% of the company's stock.

Block Trading Down 5.2 %

SQ stock traded down $3.33 during midday trading on Friday, hitting $61.25. 6,446,150 shares of the company's stock were exchanged, compared to its average volume of 8,524,023. Block, Inc. has a 1-year low of $38.85 and a 1-year high of $87.52. The business has a 50-day simple moving average of $64.28 and a two-hundred day simple moving average of $69.70. The stock has a market capitalization of $37.71 billion, a PE ratio of 79.55, a P/E/G ratio of 1.16 and a beta of 2.49. The company has a current ratio of 1.82, a quick ratio of 1.82 and a debt-to-equity ratio of 0.26.

Block (NYSE:SQ - Get Free Report) last issued its quarterly earnings data on Thursday, August 1st. The technology company reported $0.93 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.84 by $0.09. The firm had revenue of $6.16 billion for the quarter, compared to analyst estimates of $6.27 billion. Block had a net margin of 3.47% and a return on equity of 3.77%. Block's revenue was up 11.2% on a year-over-year basis. During the same period in the previous year, the firm earned $0.40 EPS. On average, sell-side analysts predict that Block, Inc. will post 1.72 EPS for the current fiscal year.

Insider Buying and Selling at Block

In related news, insider Brian Grassadonia sold 1,889 shares of the stock in a transaction dated Tuesday, July 2nd. The stock was sold at an average price of $64.37, for a total transaction of $121,594.93. Following the transaction, the insider now owns 590,761 shares of the company's stock, valued at approximately $38,027,285.57. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. In other Block news, CAO Ajmere Dale sold 1,406 shares of the business's stock in a transaction on Wednesday, August 21st. The shares were sold at an average price of $64.70, for a total value of $90,968.20. Following the completion of the transaction, the chief accounting officer now owns 90,960 shares in the company, valued at $5,885,112. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Brian Grassadonia sold 1,889 shares of the stock in a transaction on Tuesday, July 2nd. The shares were sold at an average price of $64.37, for a total value of $121,594.93. Following the completion of the sale, the insider now owns 590,761 shares in the company, valued at $38,027,285.57. The disclosure for this sale can be found here. Insiders have sold a total of 28,179 shares of company stock valued at $1,833,962 over the last quarter. 10.49% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

SQ has been the subject of several analyst reports. Royal Bank of Canada reiterated an "outperform" rating and issued a $88.00 target price on shares of Block in a research note on Friday, August 2nd. Macquarie reissued an "outperform" rating and set a $100.00 target price on shares of Block in a research note on Friday, July 26th. Deutsche Bank Aktiengesellschaft raised their target price on Block from $90.00 to $98.00 and gave the company a "buy" rating in a research report on Friday, July 12th. Wells Fargo & Company lowered their price target on Block from $95.00 to $85.00 and set an "overweight" rating on the stock in a research report on Friday, August 2nd. Finally, Benchmark reissued a "buy" rating and issued a $99.00 price objective on shares of Block in a report on Friday, August 2nd. One analyst has rated the stock with a sell rating, five have issued a hold rating, twenty-five have issued a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $87.52.

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.