BluePath Capital Management LLC Invests $859,000 in Block, Inc. (NYSE:SQ)

BluePath Capital Management LLC acquired a new stake in Block, Inc. (NYSE:SQ - Free Report) in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The firm acquired 12,801 shares of the technology company's stock, valued at approximately $859,000.

Several other institutional investors also recently modified their holdings of the company. LRI Investments LLC bought a new stake in Block in the 1st quarter valued at $34,000. Unique Wealth Strategies LLC acquired a new stake in shares of Block during the 2nd quarter worth about $34,000. Migdal Insurance & Financial Holdings Ltd. bought a new stake in shares of Block during the 2nd quarter worth about $44,000. V Square Quantitative Management LLC acquired a new position in Block in the 3rd quarter valued at about $46,000. Finally, Hobbs Group Advisors LLC bought a new position in Block in the 2nd quarter valued at about $49,000. 70.44% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other Block news, CAO Ajmere Dale sold 500 shares of Block stock in a transaction dated Tuesday, August 13th. The stock was sold at an average price of $61.88, for a total transaction of $30,940.00. Following the transaction, the chief accounting officer now directly owns 92,366 shares of the company's stock, valued at approximately $5,715,608.08. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In other Block news, CAO Ajmere Dale sold 500 shares of the firm's stock in a transaction that occurred on Tuesday, August 13th. The shares were sold at an average price of $61.88, for a total transaction of $30,940.00. Following the completion of the transaction, the chief accounting officer now owns 92,366 shares in the company, valued at approximately $5,715,608.08. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Brian Grassadonia sold 1,884 shares of the company's stock in a transaction on Wednesday, October 2nd. The shares were sold at an average price of $65.41, for a total transaction of $123,232.44. Following the completion of the sale, the insider now directly owns 574,914 shares in the company, valued at approximately $37,605,124.74. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 25,214 shares of company stock valued at $1,637,932 over the last 90 days. 10.49% of the stock is owned by insiders.

Block Trading Down 0.2 %

Shares of SQ stock traded down $0.17 during mid-day trading on Friday, reaching $72.15. 5,643,079 shares of the stock traded hands, compared to its average volume of 4,882,765. The stock's fifty day simple moving average is $68.00 and its two-hundred day simple moving average is $66.90. Block, Inc. has a 1-year low of $42.78 and a 1-year high of $87.52. The company has a quick ratio of 1.82, a current ratio of 1.82 and a debt-to-equity ratio of 0.26. The company has a market cap of $44.42 billion, a price-to-earnings ratio of 56.37, a price-to-earnings-growth ratio of 0.99 and a beta of 2.48.

Block (NYSE:SQ - Get Free Report) last announced its quarterly earnings results on Thursday, August 1st. The technology company reported $0.93 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.84 by $0.09. The firm had revenue of $6.16 billion during the quarter, compared to analysts' expectations of $6.27 billion. Block had a net margin of 3.47% and a return on equity of 3.77%. The company's 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. On average, research analysts anticipate that Block, Inc. will post 1.71 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several research firms have recently commented on SQ. Benchmark reaffirmed a "buy" rating and issued a $99.00 target price on shares of Block in a research report on Friday, August 2nd. UBS Group lowered their price target on shares of Block from $100.00 to $92.00 and set a "buy" rating on the stock in a research report on Tuesday, August 27th. Deutsche Bank Aktiengesellschaft boosted their price objective on shares of Block from $90.00 to $98.00 and gave the company a "buy" rating in a report on Friday, July 12th. Needham & Company LLC lowered their target price on shares of Block from $105.00 to $80.00 and set a "buy" rating on the stock in a report on Monday, August 5th. Finally, William Blair upgraded Block to a "strong-buy" rating in a research note on Wednesday, July 31st. One equities 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 given a strong buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target 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.