Block, Inc. (NYSE:SQ) Shares Sold by SRN Advisors LLC

SRN Advisors LLC reduced its stake in Block, Inc. (NYSE:SQ - Free Report) by 48.9% during the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 13,132 shares of the technology company's stock after selling 12,584 shares during the period. SRN Advisors LLC's holdings in Block were worth $882,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Baillie Gifford & Co. grew its stake in Block by 45.7% during the 2nd quarter. Baillie Gifford & Co. now owns 10,085,229 shares of the technology company's stock worth $650,396,000 after buying an additional 3,163,975 shares during the last quarter. Lone Pine Capital LLC grew its position in shares of Block by 13.9% during the second quarter. Lone Pine Capital LLC now owns 7,670,523 shares of the technology company's stock worth $494,672,000 after acquiring an additional 934,588 shares during the last quarter. D1 Capital Partners L.P. grew its position in shares of Block by 76.7% during the second quarter. D1 Capital Partners L.P. now owns 1,831,342 shares of the technology company's stock worth $118,103,000 after acquiring an additional 795,000 shares during the last quarter. Canada Pension Plan Investment Board raised its position in Block by 1,061.0% in the 2nd quarter. Canada Pension Plan Investment Board now owns 657,667 shares of the technology company's stock valued at $42,413,000 after purchasing an additional 601,020 shares during the last quarter. Finally, Capital World Investors boosted its stake in Block by 4.7% during the 1st quarter. Capital World Investors now owns 13,096,614 shares of the technology company's stock worth $1,107,712,000 after purchasing an additional 582,826 shares during the period. Institutional investors and hedge funds own 70.44% of the company's stock.

Insider Transactions at Block

In other Block news, CFO Amrita Ahuja sold 5,935 shares of the firm's stock in a transaction dated Wednesday, October 2nd. The shares were sold at an average price of $65.53, for a total transaction of $388,920.55. Following the sale, the chief financial officer now directly owns 255,496 shares of the company's stock, valued at $16,742,652.88. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other Block news, Director Roelof Botha acquired 434,405 shares of the stock in a transaction dated Tuesday, August 6th. The stock was acquired at an average price of $57.55 per share, with a total value of $25,000,007.75. Following the completion of the transaction, the director now directly owns 434,405 shares in the company, valued at approximately $25,000,007.75. The purchase was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CFO Amrita Ahuja sold 5,935 shares of the stock in a transaction dated Wednesday, October 2nd. The stock was sold at an average price of $65.53, for a total value of $388,920.55. Following the transaction, the chief financial officer now owns 255,496 shares in the company, valued at $16,742,652.88. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 25,214 shares of company stock valued at $1,637,932 over the last three months. 10.49% of the stock is currently owned by insiders.

Block Price Performance

NYSE:SQ traded up $0.06 during mid-day trading on Friday, hitting $72.61. 3,964,224 shares of the company's stock traded hands, compared to its average volume of 7,998,896. 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 company has a market cap of $44.80 billion, a PE ratio of 94.30, a price-to-earnings-growth ratio of 0.99 and a beta of 2.49. The firm's 50 day simple moving average is $67.22 and its 200 day simple moving average is $67.02. Block, Inc. has a 1 year low of $38.85 and a 1 year high of $87.52.

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 for the quarter, topping analysts' consensus estimates of $0.84 by $0.09. Block had a net margin of 3.47% and a return on equity of 3.77%. The business had revenue of $6.16 billion during the quarter, compared to analysts' expectations of $6.27 billion. During the same period last year, the company posted $0.40 EPS. The company's revenue was up 11.2% on a year-over-year basis. Sell-side analysts expect that Block, Inc. will post 1.71 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on the stock. New Street Research began coverage on shares of Block in a research note on Monday, September 9th. They issued a "neutral" rating and a $70.00 price objective on the stock. BMO Capital Markets reduced their price objective on Block from $93.00 to $92.00 and set an "outperform" rating for the company in a research note on Thursday, October 3rd. Benchmark reiterated a "buy" rating and issued a $99.00 target price on shares of Block in a research note on Friday, August 2nd. Royal Bank of Canada restated an "outperform" rating and set a $88.00 price target on shares of Block in a research note on Monday, October 21st. Finally, Deutsche Bank Aktiengesellschaft increased their price target on Block from $90.00 to $98.00 and gave the stock a "buy" rating in a report on Friday, July 12th. 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 stock. Based on data from MarketBeat, Block has an average rating of "Moderate Buy" and a consensus price target of $88.79.

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.