SpiderRock Advisors LLC cut its stake in Block, Inc. (NYSE:SQ – Free Report) by 75.7% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 11,592 shares of the technology company’s stock after selling 36,197 shares during the period. SpiderRock Advisors LLC’s holdings in Block were worth $778,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other hedge funds and other institutional investors have also recently made changes to their positions in the company. LRI Investments LLC purchased a new stake in Block in the 1st quarter valued at $34,000. Unique Wealth Strategies LLC purchased a new stake in shares of Block in the second quarter valued at about $34,000. V Square Quantitative Management LLC acquired a new stake in Block during the third quarter worth about $46,000. Migdal Insurance & Financial Holdings Ltd. purchased a new position in Block during the second quarter worth about $44,000. Finally, Hobbs Group Advisors LLC acquired a new position in Block in the 2nd quarter valued at about $49,000. Institutional investors and hedge funds own 70.44% of the company’s stock.
Block Stock Performance
Shares of SQ stock opened at $74.56 on Monday. The company has a market cap of $45.90 billion, a P/E ratio of 41.89, a PEG ratio of 1.02 and a beta of 2.48. The firm has a fifty day moving average price of $68.86 and a 200 day moving average price of $66.97. The company has a current ratio of 1.82, a quick ratio of 1.82 and a debt-to-equity ratio of 0.26. Block, Inc. has a 12 month low of $50.86 and a 12 month high of $87.52.
Insider Transactions at Block
Analyst Ratings Changes
A number of analysts have recently issued reports on SQ shares. Macquarie restated an “outperform” rating and set a $100.00 price target on shares of Block in a report on Friday, July 26th. Morgan Stanley reduced their target price on Block from $60.00 to $55.00 and set an “underweight” rating on the stock in a research report on Tuesday, July 30th. Keefe, Bruyette & Woods increased their price target on Block from $71.00 to $80.00 and gave the stock a “market perform” rating in a report on Friday. New Street Research assumed coverage on shares of Block in a report on Monday, September 9th. They issued a “neutral” rating and a $70.00 price objective on the stock. Finally, William Blair raised shares of Block to a “strong-buy” rating in a research note on Wednesday, July 31st. One investment 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 data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $90.56.
Check Out Our Latest Report on SQ
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.
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