Lombard Odier Asset Management Europe Ltd Has $1.61 Million Stock Holdings in Block, Inc. (NYSE:SQ)

Lombard Odier Asset Management Europe Ltd lowered its position in shares of Block, Inc. (NYSE:SQ - Free Report) by 32.0% in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 25,000 shares of the technology company's stock after selling 11,750 shares during the quarter. Lombard Odier Asset Management Europe Ltd's holdings in Block were worth $1,612,000 at the end of the most recent reporting period.

Several other large investors have also made changes to their positions in the company. Riverview Trust Co bought a new stake in shares of Block during the 1st quarter valued at $28,000. YHB Investment Advisors Inc. bought a new stake in Block in the first quarter valued at approximately $33,000. Vima LLC acquired a new stake in Block in the fourth quarter worth $34,000. LRI Investments LLC acquired a new stake in Block in the first quarter worth $34,000. Finally, Unique Wealth Strategies LLC acquired a new position in shares of Block in the 2nd quarter valued at $34,000. Institutional investors and hedge funds own 70.44% of the company's stock.

Wall Street Analyst Weigh In

Several analysts recently commented on the company. The Goldman Sachs Group reaffirmed a "buy" rating and set a $80.00 price objective on shares of Block in a research note on Monday, June 24th. Royal Bank of Canada reiterated an "outperform" rating and issued a $88.00 price objective on shares of Block in a research report on Friday, August 2nd. Macquarie restated an "outperform" rating and set a $100.00 target price on shares of Block in a report on Friday, July 26th. New Street Research started coverage on shares of Block in a research report on Monday, September 9th. They set a "neutral" rating and a $70.00 price objective for the company. Finally, Morgan Stanley cut their price objective on shares of Block from $60.00 to $55.00 and set an "underweight" rating on the stock in a research report on Tuesday, July 30th. One analyst has rated the stock with a sell rating, six have issued a hold rating, twenty-four have issued a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $87.34.

Insider Activity at Block

In other news, Director Roelof Botha acquired 434,405 shares of the stock in a transaction on Tuesday, August 6th. The shares were purchased at an average price of $57.55 per share, for a total transaction of $25,000,007.75. Following the transaction, the director now directly owns 434,405 shares of the company's stock, valued at $25,000,007.75. The acquisition was disclosed in a filing with the SEC, which is available through the SEC website. In other Block news, Director Roelof Botha bought 434,405 shares of the stock in a transaction dated Tuesday, August 6th. The shares were bought at an average cost of $57.55 per share, with a total value of $25,000,007.75. Following the completion of the acquisition, the director now owns 434,405 shares of the company's stock, valued at $25,000,007.75. The purchase was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Brian Grassadonia sold 1,889 shares of Block stock in a transaction that occurred on Tuesday, July 2nd. The shares were sold at an average price of $64.37, for a total transaction of $121,594.93. Following the completion of the sale, the insider now owns 590,761 shares of the company's stock, valued at $38,027,285.57. The disclosure for this sale can be found here. Insiders sold 28,179 shares of company stock worth $1,833,962 in the last ninety days. 10.49% of the stock is owned by company insiders.

Block Stock Performance

Shares of NYSE:SQ traded down $0.29 on Tuesday, hitting $67.54. The company had a trading volume of 6,348,927 shares, compared to its average volume of 8,340,817. The stock has a market cap of $41.67 billion, a price-to-earnings ratio of 88.08, a P/E/G ratio of 1.15 and a beta of 2.49. The stock has a 50 day moving average price of $64.16 and a 200 day moving average price of $68.90. Block, Inc. has a 1-year low of $38.85 and a 1-year high of $87.52. 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 released its quarterly earnings results on Thursday, August 1st. The technology company reported $0.93 earnings per share for the quarter, beating the consensus estimate of $0.84 by $0.09. Block had a net margin of 3.47% and a return on equity of 3.77%. The firm had revenue of $6.16 billion for the quarter, compared to analysts' expectations of $6.27 billion. During the same period in the prior year, the firm earned $0.40 EPS. The business's revenue was up 11.2% on a year-over-year basis. Analysts expect that Block, Inc. will post 1.72 EPS for the current year.

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.