Osborne Partners Capital Management LLC Makes New Investment in Block, Inc. (NYSE:SQ)

Osborne Partners Capital Management LLC bought a new position in Block, Inc. (NYSE:SQ - Free Report) in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm bought 97,720 shares of the technology company's stock, valued at approximately $6,560,000.

Other institutional investors have also recently bought and sold shares of the company. Allworth Financial LP lifted its position in shares of Block by 7.5% during the 3rd quarter. Allworth Financial LP now owns 2,841 shares of the technology company's stock worth $191,000 after buying an additional 197 shares during the period. Ballentine Partners LLC lifted its holdings in shares of Block by 11.7% during the third quarter. Ballentine Partners LLC now owns 6,430 shares of the technology company's stock valued at $432,000 after acquiring an additional 671 shares during the period. Financial Partners Group LLC bought a new position in shares of Block during the third quarter valued at $252,000. Global Trust Asset Management LLC boosted its stake in shares of Block by 32.4% in the 3rd quarter. Global Trust Asset Management LLC now owns 3,463 shares of the technology company's stock valued at $232,000 after purchasing an additional 848 shares in the last quarter. Finally, IFM Investors Pty Ltd grew its holdings in shares of Block by 0.4% in the 3rd quarter. IFM Investors Pty Ltd now owns 109,276 shares of the technology company's stock worth $7,336,000 after purchasing an additional 489 shares during the last quarter. Institutional investors and hedge funds own 70.44% of the company's stock.

Block Stock Up 0.1 %

Shares of NYSE:SQ traded up $0.06 during midday trading on Friday, hitting $72.61. The stock had a trading volume of 3,964,224 shares, compared to its average volume of 7,998,896. The company has a market cap of $44.80 billion, a P/E ratio of 94.30, a PEG ratio of 0.99 and a beta of 2.49. Block, Inc. has a 12 month low of $38.85 and a 12 month high of $87.52. The business's 50-day simple moving average is $67.22 and its 200-day simple moving average is $67.11. The company has a quick ratio of 1.82, a current ratio of 1.82 and a debt-to-equity ratio of 0.26.

Block (NYSE:SQ - Get Free Report) last released its quarterly earnings data on Thursday, August 1st. The technology company reported $0.93 earnings per share for the quarter, topping 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 company had revenue of $6.16 billion for the quarter, compared to analyst estimates of $6.27 billion. During the same period in the previous year, the business earned $0.40 EPS. Block's revenue for the quarter was up 11.2% compared to the same quarter last year. On average, sell-side analysts forecast that Block, Inc. will post 1.71 earnings per share for the current fiscal year.

Insider Buying and Selling at Block

In other Block news, Director Roelof Botha bought 434,405 shares of the firm's stock in a transaction that occurred on Tuesday, August 6th. The shares were acquired at an average cost of $57.55 per share, with a total value of $25,000,007.75. Following the acquisition, the director now owns 434,405 shares of the company's stock, valued at $25,000,007.75. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, CAO Ajmere Dale sold 500 shares of the business's stock in a transaction that occurred on Tuesday, August 13th. The stock was sold at an average price of $61.88, for a total transaction of $30,940.00. Following the completion of the sale, the chief accounting officer now owns 92,366 shares in the company, 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 legal filing with the SEC, which is available at this hyperlink. Also, Director Roelof Botha bought 434,405 shares of the stock in a transaction dated 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 purchase, the director now owns 434,405 shares of the company's stock, valued at $25,000,007.75. The disclosure for this purchase can be found here. Insiders have sold 25,214 shares of company stock worth $1,637,932 over the last 90 days. Company insiders own 10.49% of the company's stock.

Analyst Ratings Changes

SQ has been the topic of a number of recent analyst reports. Benchmark restated a "buy" rating and issued a $99.00 price target on shares of Block in a research report on Friday, August 2nd. UBS Group cut their price objective on Block from $100.00 to $92.00 and set a "buy" rating for the company in a research report on Tuesday, August 27th. BMO Capital Markets lowered their target price on Block from $93.00 to $92.00 and set an "outperform" rating for the company in a research note on Thursday, October 3rd. Needham & Company LLC dropped their price objective on shares of Block from $105.00 to $80.00 and set a "buy" rating for the company in a research report on Monday, August 5th. Finally, William Blair upgraded shares of Block to a "strong-buy" rating in a research report on Wednesday, July 31st. One analyst has rated the stock with a sell rating, six have assigned a hold rating, twenty-four have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, Block presently has a consensus rating of "Moderate Buy" and an average target price of $88.79.

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.