Block, Inc. (NYSE:SQ) Holdings Reduced by Dragoneer Investment Group LLC

Dragoneer Investment Group LLC lowered its position in Block, Inc. (NYSE:SQ - Free Report) by 0.5% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 3,373,167 shares of the technology company's stock after selling 15,930 shares during the quarter. Block accounts for approximately 4.2% of Dragoneer Investment Group LLC's holdings, making the stock its 11th biggest holding. Dragoneer Investment Group LLC owned 0.55% of Block worth $217,536,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. Riverview Trust Co purchased a new position in Block during the first quarter worth $28,000. YHB Investment Advisors Inc. purchased a new stake in Block during the 1st quarter worth about $33,000. Vima LLC acquired a new position in Block in the 4th quarter valued at about $34,000. LRI Investments LLC purchased a new position in Block in the 1st quarter valued at about $34,000. Finally, Unique Wealth Strategies LLC acquired a new stake in shares of Block during the 2nd quarter worth about $34,000. Institutional investors and hedge funds own 70.44% of the company's stock.

Block Stock Up 1.9 %

Shares of NYSE:SQ traded up $1.25 during trading on Thursday, hitting $66.49. The company's stock had a trading volume of 5,898,656 shares, compared to its average volume of 8,314,034. The company has a market capitalization of $41.03 billion, a PE ratio of 85.03, a PEG ratio of 1.18 and a beta of 2.49. Block, Inc. has a fifty-two week low of $38.85 and a fifty-two week high of $87.52. The company has a debt-to-equity ratio of 0.26, a quick ratio of 1.82 and a current ratio of 1.82. The stock's 50-day moving average price is $63.94 and its two-hundred day moving average price is $68.78.

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

Insider Buying and Selling at Block

In other news, insider Brian Grassadonia sold 1,889 shares of the company's stock in a transaction dated Tuesday, July 2nd. The shares were sold at an average price of $64.37, for a total value of $121,594.93. Following the sale, the insider now owns 590,761 shares in the company, valued at approximately $38,027,285.57. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other news, insider Brian Grassadonia sold 1,889 shares of Block stock in a transaction that occurred on Tuesday, July 2nd. The stock was sold at an average price of $64.37, for a total value of $121,594.93. Following the completion of the transaction, the insider now owns 590,761 shares in the company, valued at approximately $38,027,285.57. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Chrysty Esperanza sold 2,500 shares of the company's stock in a transaction that occurred on Monday, July 15th. The shares were sold at an average price of $70.00, for a total value of $175,000.00. Following the sale, the insider now directly owns 92,048 shares in the company, valued at $6,443,360. The disclosure for this sale can be found here. Insiders have sold 28,179 shares of company stock worth $1,833,962 in the last ninety days. 10.49% of the stock is owned by insiders.

Wall Street Analyst Weigh In

SQ has been the subject of a number of analyst reports. The Goldman Sachs Group reissued a "buy" rating and issued a $80.00 price objective on shares of Block in a research report on Monday, June 24th. BMO Capital Markets increased their price target on Block from $92.00 to $93.00 and gave the stock an "outperform" rating in a research note on Friday, August 2nd. Macquarie restated an "outperform" rating and set a $100.00 price objective on shares of Block in a report on Friday, July 26th. UBS Group dropped their target price on Block from $100.00 to $92.00 and set a "buy" rating for the company in a research note on Tuesday, August 27th. Finally, Susquehanna reiterated a "positive" rating and set a $100.00 target price on shares of Block in a research report on Wednesday, June 26th. One research 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. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target of $87.34.

Block Company 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.