200,000 Shares in Block, Inc. (NYSE:SQ) Bought by Regal Partners Ltd

Regal Partners Ltd bought a new position in shares of Block, Inc. (NYSE:SQ - Free Report) in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 200,000 shares of the technology company's stock, valued at approximately $13,426,000. Block comprises 1.2% of Regal Partners Ltd's portfolio, making the stock its 23rd largest holding.

A number of other large investors have also recently bought and sold shares of SQ. LRI Investments LLC bought a new stake in shares of Block in the first quarter worth $34,000. Unique Wealth Strategies LLC bought a new stake in Block in the second quarter worth about $34,000. Migdal Insurance & Financial Holdings Ltd. acquired a new position in shares of Block in the 2nd quarter worth $44,000. V Square Quantitative Management LLC purchased a new stake in shares of Block in the 3rd quarter valued at approximately $46,000. Finally, Hobbs Group Advisors LLC acquired a new position in shares of Block in the 2nd quarter valued at about $49,000. Institutional investors and hedge funds own 70.44% of the company's stock.

Insider Activity at Block

In other news, insider Brian Grassadonia sold 8,328 shares of the business's stock in a transaction that occurred on Wednesday, August 21st. The stock was sold at an average price of $64.77, for a total value of $539,404.56. Following the completion of the sale, the insider now directly owns 580,086 shares in the company, valued at approximately $37,572,170.22. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, CAO Ajmere Dale sold 1,406 shares of the firm's stock in a transaction on Wednesday, August 21st. The shares were sold at an average price of $64.70, for a total transaction of $90,968.20. Following the transaction, the chief accounting officer now owns 90,960 shares in the company, valued at approximately $5,885,112. 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 8,328 shares of the firm's stock in a transaction dated Wednesday, August 21st. The shares were sold at an average price of $64.77, for a total value of $539,404.56. Following the completion of the sale, the insider now directly owns 580,086 shares in the company, valued at approximately $37,572,170.22. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 28,678 shares of company stock worth $1,924,112. 10.49% of the stock is currently owned by company insiders.

Block Trading Down 2.1 %

SQ traded down $1.80 during midday trading on Thursday, hitting $84.02. The company's stock had a trading volume of 4,767,894 shares, compared to its average volume of 8,130,460. The firm has a 50-day moving average price of $70.11 and a two-hundred day moving average price of $67.22. Block, Inc. has a 52-week low of $55.00 and a 52-week high of $90.00. The company has a current ratio of 2.07, a quick ratio of 2.07 and a debt-to-equity ratio of 0.26. The firm has a market cap of $51.73 billion, a P/E ratio of 48.21, a PEG ratio of 1.18 and a beta of 2.48.

Analyst Upgrades and Downgrades

SQ has been the subject of a number of research reports. UBS Group reduced their price target on shares of Block from $100.00 to $92.00 and set a "buy" rating for the company in a report on Tuesday, August 27th. BMO Capital Markets reduced their price target on Block from $93.00 to $92.00 and set an "outperform" rating on the stock in a research report on Thursday, October 3rd. Piper Sandler reiterated an "overweight" rating and issued a $83.00 price objective on shares of Block in a research report on Monday. Keefe, Bruyette & Woods increased their price target on shares of Block from $71.00 to $80.00 and gave the company a "market perform" rating in a research note on Friday, November 8th. Finally, Canaccord Genuity Group increased their price objective on shares of Block from $95.00 to $120.00 and gave the company a "buy" rating in a research report on Tuesday. One investment analyst has rated the stock with a sell rating, five have issued a hold rating, twenty-three have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $91.30.

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.