Vontobel Holding Ltd. Purchases 47,165 Shares of Block, Inc. (NYSE:SQ)

Vontobel Holding Ltd. boosted its stake in Block, Inc. (NYSE:SQGet Rating) by 19.8% in the third quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 285,509 shares of the technology company’s stock after buying an additional 47,165 shares during the quarter. Vontobel Holding Ltd.’s holdings in Block were worth $15,699,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. AIA Group Ltd purchased a new stake in Block in the 3rd quarter valued at $223,000. Empowered Funds LLC raised its position in Block by 24.1% in the 3rd quarter. Empowered Funds LLC now owns 5,825 shares of the technology company’s stock valued at $320,000 after buying an additional 1,132 shares during the last quarter. Ardevora Asset Management LLP purchased a new stake in Block in the 3rd quarter valued at $18,757,000. CX Institutional raised its position in Block by 19,807.4% in the 3rd quarter. CX Institutional now owns 21,500 shares of the technology company’s stock valued at $1,182,000 after buying an additional 21,392 shares during the last quarter. Finally, Lincoln National Corp raised its position in Block by 2.4% in the 3rd quarter. Lincoln National Corp now owns 7,968 shares of the technology company’s stock valued at $438,000 after buying an additional 186 shares during the last quarter. 59.49% of the stock is owned by hedge funds and other institutional investors.

Block Stock Performance

NYSE:SQ opened at $80.79 on Wednesday. The business has a 50 day moving average of $66.39 and a 200 day moving average of $66.82. The company has a market capitalization of $48.32 billion, a price-to-earnings ratio of -86.87, a PEG ratio of 61.40 and a beta of 2.35. Block, Inc. has a 1-year low of $51.34 and a 1-year high of $149.00. The company has a debt-to-equity ratio of 0.25, a current ratio of 1.86 and a quick ratio of 1.86.

Block (NYSE:SQGet Rating) last announced its quarterly earnings data on Thursday, November 3rd. The technology company reported $0.01 earnings per share for the quarter, beating the consensus estimate of ($0.15) by $0.16. Block had a negative return on equity of 2.10% and a negative net margin of 2.97%. The firm had revenue of $4.52 billion during the quarter, compared to the consensus estimate of $4.48 billion. On average, sell-side analysts predict that Block, Inc. will post -0.67 earnings per share for the current fiscal year.

Insider Buying and Selling at Block

In other Block news, CAO Ajmere Dale sold 1,032 shares of the business’s stock in a transaction that occurred on Tuesday, January 3rd. The stock was sold at an average price of $64.28, for a total value of $66,336.96. Following the completion of the sale, the chief accounting officer now owns 46,892 shares in the company, valued at $3,014,217.76. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, CAO Ajmere Dale sold 1,032 shares of the business’s stock in a transaction that occurred on Tuesday, January 3rd. The stock was sold at an average price of $64.28, for a total transaction of $66,336.96. Following the transaction, the chief accounting officer now directly owns 46,892 shares of the company’s stock, valued at $3,014,217.76. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, CFO Amrita Ahuja sold 3,820 shares of the business’s stock in a transaction that occurred on Wednesday, November 2nd. The shares were sold at an average price of $58.86, for a total value of $224,845.20. Following the transaction, the chief financial officer now directly owns 144,010 shares in the company, valued at $8,476,428.60. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 287,537 shares of company stock worth $18,528,646. 11.52% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

SQ has been the subject of a number of analyst reports. Morgan Stanley lowered their price target on Block from $67.00 to $66.00 and set an “equal weight” rating for the company in a research report on Thursday, December 8th. Robert W. Baird lifted their price objective on shares of Block from $78.00 to $85.00 in a research report on Wednesday, January 18th. Piper Sandler reissued an “overweight” rating and set a $93.00 target price on shares of Block in a research report on Tuesday, December 13th. UBS Group lowered their price target on shares of Block from $104.00 to $100.00 and set a “buy” rating on the stock in a report on Thursday, December 15th. Finally, Needham & Company LLC reduced their price objective on Block from $120.00 to $80.00 and set a “buy” rating for the company in a report on Friday, November 4th. Two investment analysts have rated the stock with a sell rating, six have issued a hold rating and thirty-two have issued a buy rating to the company’s stock. According to data from MarketBeat, Block presently has a consensus rating of “Moderate Buy” and an average price target of $113.08.

About Block

(Get Rating)

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.

See Also

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Institutional Ownership by Quarter for Block (NYSE:SQ)

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