Block, Inc. (NYSE:SQ) Shares Sold by XY Capital Ltd

XY Capital Ltd cut its position in Block, Inc. (NYSE:SQ) by 21.7% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 12,275 shares of the technology company’s stock after selling 3,411 shares during the quarter. Block accounts for 0.3% of XY Capital Ltd’s portfolio, making the stock its 21st largest position. XY Capital Ltd’s holdings in Block were worth $824,000 at the end of the most recent quarter.

A number of other large investors have also added to or reduced their stakes in SQ. LRI Investments LLC purchased a new position in Block in the 1st quarter valued at about $34,000. Unique Wealth Strategies LLC acquired a new position in shares of Block in the second quarter worth about $34,000. V Square Quantitative Management LLC purchased a new position in Block in the third quarter valued at about $46,000. Migdal Insurance & Financial Holdings Ltd. acquired a new stake in Block during the 2nd quarter valued at approximately $44,000. Finally, Hobbs Group Advisors LLC purchased a new stake in Block during the 2nd quarter worth approximately $49,000. 70.44% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Block

In related news, CAO Ajmere Dale sold 500 shares of the 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 sale, the chief accounting officer now directly owns 92,366 shares of the company’s stock, valued at $5,715,608.08. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In related news, CFO Amrita Ahuja sold 6,661 shares of the stock in a transaction on Wednesday, August 21st. The stock was sold at an average price of $64.70, for a total value of $430,966.70. Following the completion of the transaction, the chief financial officer now owns 264,697 shares in the company, valued at $17,125,895.90. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, 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 sale, the chief accounting officer now owns 92,366 shares in the company, valued at approximately $5,715,608.08. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 25,214 shares of company stock valued at $1,637,932 in the last quarter. Insiders own 10.49% of the company’s stock.

Block Price Performance

NYSE:SQ opened at $74.57 on Friday. Block, Inc. has a 52-week low of $50.86 and a 52-week 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 firm has a market cap of $45.91 billion, a P/E ratio of 58.26, a PEG ratio of 1.06 and a beta of 2.48. The business’s 50-day moving average price is $68.86 and its 200 day moving average price is $67.03.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on the stock. Needham & Company LLC upped their price target on shares of Block from $80.00 to $90.00 and gave the company a “buy” rating in a report on Friday. William Blair raised Block to a “strong-buy” rating in a report on Wednesday, July 31st. BMO Capital Markets decreased their price objective on shares of Block from $93.00 to $92.00 and set an “outperform” rating for the company in a report on Thursday, October 3rd. Deutsche Bank Aktiengesellschaft lifted their price target on shares of Block from $90.00 to $98.00 and gave the company a “buy” rating in a report on Friday, July 12th. Finally, Morgan Stanley dropped their price objective on shares of Block from $60.00 to $55.00 and set an “underweight” rating on the stock in a research note on Tuesday, July 30th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating, twenty-three have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $90.56.

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.