Block, Inc. (NYSE:SQ) Shares Bought by Y.D. More Investments Ltd

Y.D. More Investments Ltd increased its position in Block, Inc. (NYSE:SQ) by 12.4% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 5,385 shares of the technology company’s stock after acquiring an additional 592 shares during the period. Y.D. More Investments Ltd’s holdings in Block were worth $417,000 at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of SQ. Baillie Gifford & Co. increased its holdings in shares of Block by 3,525.7% in the 4th quarter. Baillie Gifford & Co. now owns 5,935,002 shares of the technology company’s stock worth $459,072,000 after acquiring an additional 5,771,310 shares during the period. Lone Pine Capital LLC acquired a new stake in shares of Block in the 3rd quarter worth about $172,001,000. Qube Research & Technologies Ltd increased its holdings in shares of Block by 72.8% in the 3rd quarter. Qube Research & Technologies Ltd now owns 2,683,346 shares of the technology company’s stock worth $118,765,000 after acquiring an additional 1,130,925 shares during the period. ARK Investment Management LLC increased its holdings in shares of Block by 9.2% in the 4th quarter. ARK Investment Management LLC now owns 11,887,628 shares of the technology company’s stock worth $919,508,000 after acquiring an additional 1,000,514 shares during the period. Finally, Assenagon Asset Management S.A. increased its stake in Block by 396.4% during the 3rd quarter. Assenagon Asset Management S.A. now owns 1,228,886 shares of the technology company’s stock valued at $54,390,000 after buying an additional 981,320 shares during the period. Institutional investors and hedge funds own 70.44% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have commented on SQ shares. Benchmark raised their target price on shares of Block from $89.00 to $99.00 and gave the company a “buy” rating in a research note on Thursday, April 4th. Seaport Res Ptn raised shares of Block from a “neutral” rating to a “buy” rating in a research note on Friday, February 23rd. Canaccord Genuity Group raised their target price on shares of Block from $80.00 to $95.00 and gave the company a “buy” rating in a research note on Monday, February 26th. Truist Financial raised their target price on shares of Block from $90.00 to $100.00 and gave the company a “buy” rating in a research note on Friday, February 23rd. Finally, Keefe, Bruyette & Woods raised their target price on shares of Block from $74.00 to $78.00 and gave the company a “market perform” rating in a research note on Friday, February 23rd. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and twenty-seven have assigned a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $85.67.

Block Stock Performance

Block stock opened at $68.50 on Thursday. The company has a market cap of $42.17 billion, a PE ratio of 429.41, a PEG ratio of 2.02 and a beta of 2.57. The company’s 50-day moving average is $77.77 and its two-hundred day moving average is $67.82. The company has a current ratio of 1.90, a quick ratio of 1.90 and a debt-to-equity ratio of 0.22. Block, Inc. has a 1 year low of $38.85 and a 1 year high of $87.52.

Block (NYSE:SQ) last posted its earnings results on Thursday, February 22nd. The technology company reported $0.03 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.02 by $0.01. Block had a return on equity of 0.63% and a net margin of 0.04%. The business had revenue of $5.77 billion during the quarter, compared to analysts’ expectations of $5.69 billion. Equities analysts anticipate that Block, Inc. will post 1.11 earnings per share for the current year.

Insider Transactions at Block

In related news, insider Brian Grassadonia sold 127,800 shares of the firm’s stock in a transaction dated Tuesday, February 20th. The shares were sold at an average price of $65.45, for a total value of $8,364,510.00. Following the completion of the sale, the insider now directly owns 405,224 shares in the company, valued at approximately $26,521,910.80. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other news, CFO Amrita Ahuja sold 4,170 shares of the firm’s stock in a transaction that occurred on Tuesday, April 2nd. The shares were sold at an average price of $78.84, for a total transaction of $328,762.80. Following the transaction, the chief financial officer now directly owns 193,192 shares of the company’s stock, valued at $15,231,257.28. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Brian Grassadonia sold 127,800 shares of the stock in a transaction that occurred on Tuesday, February 20th. The stock was sold at an average price of $65.45, for a total transaction of $8,364,510.00. Following the sale, the insider now owns 405,224 shares in the company, valued at approximately $26,521,910.80. The disclosure for this sale can be found here. Insiders sold a total of 363,801 shares of company stock worth $27,284,175 in the last three months. Insiders own 10.79% of the company’s stock.

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.