Chicago Capital LLC Sells 11,000 Shares of Block, Inc. (NYSE:SQ)

Chicago Capital LLC decreased its position in Block, Inc. (NYSE:SQ - Free Report) by 27.3% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 29,310 shares of the technology company's stock after selling 11,000 shares during the quarter. Chicago Capital LLC's holdings in Block were worth $1,968,000 as of its most recent SEC filing.

Other hedge funds also recently made changes to their positions in the company. HighPoint Advisor Group LLC acquired a new position in Block during the 4th quarter valued at approximately $254,000. GAMMA Investing LLC boosted its position in Block by 17.0% during the 1st quarter. GAMMA Investing LLC now owns 1,129 shares of the technology company's stock valued at $95,000 after purchasing an additional 164 shares during the period. Mather Group LLC. acquired a new position in Block during the 1st quarter valued at approximately $35,000. Wedmont Private Capital boosted its position in Block by 32.0% during the 1st quarter. Wedmont Private Capital now owns 3,889 shares of the technology company's stock valued at $311,000 after purchasing an additional 943 shares during the period. Finally, Park Avenue Securities LLC boosted its position in Block by 4.3% during the 1st quarter. Park Avenue Securities LLC now owns 9,294 shares of the technology company's stock valued at $786,000 after purchasing an additional 379 shares during the period. Institutional investors and hedge funds own 70.44% of the company's stock.

Insiders Place Their Bets

In other Block news, CAO Ajmere Dale sold 500 shares of the business's stock in a transaction dated Tuesday, August 13th. The stock was sold at an average price of $61.88, for a total value of $30,940.00. Following the completion of the sale, the chief accounting officer now owns 92,366 shares of the company's stock, valued at $5,715,608.08. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other Block news, CAO Ajmere Dale sold 500 shares of the business's stock in a transaction dated Tuesday, August 13th. The stock was sold at an average price of $61.88, for a total value of $30,940.00. Following the completion of the sale, the chief accounting officer now owns 92,366 shares of the company's stock, valued at $5,715,608.08. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Roelof Botha purchased 434,405 shares of Block stock in a transaction on Tuesday, August 6th. The stock was bought at an average cost of $57.55 per share, with a total value of $25,000,007.75. Following the transaction, the director now directly owns 434,405 shares of the company's stock, valued at approximately $25,000,007.75. The disclosure for this purchase can be found here. Insiders sold 25,214 shares of company stock valued at $1,637,932 over the last quarter. Insiders own 10.49% of the company's stock.

Block Stock Up 1.3 %

NYSE SQ traded up $0.98 on Friday, reaching $74.66. The stock had a trading volume of 4,293,354 shares, compared to its average volume of 8,094,713. The business has a 50 day moving average price of $66.30 and a 200 day moving average price of $67.12. 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, Inc. has a 1 year low of $38.85 and a 1 year high of $87.52. The company has a market capitalization of $46.07 billion, a price-to-earnings ratio of 96.96, a P/E/G ratio of 0.95 and a beta of 2.49.

Block (NYSE:SQ - Get Free Report) last issued its earnings results on Thursday, August 1st. The technology company reported $0.93 EPS for the quarter, beating analysts' consensus estimates of $0.84 by $0.09. Block had a return on equity of 3.77% and a net margin of 3.47%. The firm had revenue of $6.16 billion for the quarter, compared to the consensus estimate of $6.27 billion. During the same quarter in the previous year, the company posted $0.40 earnings per share. The business's quarterly revenue was up 11.2% compared to the same quarter last year. On average, analysts forecast that Block, Inc. will post 1.71 EPS for the current fiscal year.

Analysts Set New Price Targets

SQ has been the topic of several recent analyst reports. Oppenheimer initiated coverage on Block in a research note on Tuesday, October 1st. They set a "market perform" rating on the stock. Susquehanna reaffirmed a "positive" rating and set a $100.00 target price on shares of Block in a research note on Wednesday, June 26th. Royal Bank of Canada reaffirmed an "outperform" rating and set a $88.00 target price on shares of Block in a research note on Friday, August 2nd. Macquarie reaffirmed an "outperform" rating and set a $100.00 target price on shares of Block in a research note on Friday, July 26th. Finally, Needham & Company LLC cut their target price on Block from $105.00 to $80.00 and set a "buy" rating on the stock in a research note on Monday, August 5th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating, twenty-four have assigned a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $88.79.

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.