CENTRAL TRUST Co Sells 204 Shares of Block, Inc. (NYSE:SQ)

CENTRAL TRUST Co trimmed its position in shares of Block, Inc. (NYSE:SQ) by 20.3% in the 3rd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 803 shares of the technology company’s stock after selling 204 shares during the quarter. CENTRAL TRUST Co’s holdings in Block were worth $54,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of SQ. LRI Investments LLC acquired a new position in Block during the 1st quarter valued at about $34,000. Unique Wealth Strategies LLC acquired a new position in shares of Block during the second quarter valued at about $34,000. Migdal Insurance & Financial Holdings Ltd. purchased a new position in shares of Block in the 2nd quarter valued at approximately $44,000. V Square Quantitative Management LLC acquired a new stake in Block in the 3rd quarter worth approximately $46,000. Finally, Hobbs Group Advisors LLC acquired a new stake in Block in the 2nd quarter worth approximately $49,000. 70.44% of the stock is currently owned by institutional investors.

Insider Transactions at Block

In other Block news, insider Brian Grassadonia sold 1,884 shares of the stock in a transaction dated Wednesday, October 2nd. The shares were sold at an average price of $65.41, for a total value of $123,232.44. Following the completion of the sale, the insider now owns 574,914 shares in the company, valued at approximately $37,605,124.74. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, CAO Ajmere Dale sold 500 shares of the business’s stock in a transaction dated Tuesday, August 13th. The shares were sold at an average price of $61.88, for a total transaction of $30,940.00. Following the transaction, the chief accounting officer now owns 92,366 shares of the company’s stock, valued at approximately $5,715,608.08. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Brian Grassadonia sold 1,884 shares of the firm’s stock in a transaction dated Wednesday, October 2nd. The stock was sold at an average price of $65.41, for a total transaction of $123,232.44. Following the sale, the insider now owns 574,914 shares of the company’s stock, valued at approximately $37,605,124.74. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 25,214 shares of company stock valued at $1,637,932. Corporate insiders own 10.49% of the company’s stock.

Block Price Performance

NYSE:SQ opened at $72.61 on Monday. The stock has a 50 day moving average of $67.22 and a two-hundred day moving average of $67.02. Block, Inc. has a 12 month low of $38.85 and a 12 month high of $87.52. The firm has a market cap of $44.80 billion, a P/E ratio of 94.30, a price-to-earnings-growth ratio of 0.99 and a beta of 2.49. 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 (NYSE:SQ) last issued its quarterly earnings results on Thursday, August 1st. The technology company reported $0.93 EPS for the quarter, topping the consensus estimate of $0.84 by $0.09. The firm had revenue of $6.16 billion during the quarter, compared to analysts’ expectations of $6.27 billion. Block had a return on equity of 3.77% and a net margin of 3.47%. During the same period in the previous year, the business earned $0.40 earnings per share. The firm’s revenue for the quarter was up 11.2% on a year-over-year basis. On average, analysts expect that Block, Inc. will post 1.71 earnings per share for the current fiscal year.

Analysts Set New Price Targets

SQ has been the subject of a number of research analyst reports. Needham & Company LLC decreased their price target on shares of Block from $105.00 to $80.00 and set a “buy” rating for the company in a report on Monday, August 5th. Oppenheimer assumed coverage on Block in a research report on Tuesday, October 1st. They set a “market perform” rating for the company. New Street Research started coverage on Block in a report on Monday, September 9th. They issued a “neutral” rating and a $70.00 price objective on the stock. Morgan Stanley decreased their target price on Block from $60.00 to $55.00 and set an “underweight” rating for the company in a report on Tuesday, July 30th. Finally, Macquarie reiterated an “outperform” rating and issued a $100.00 price target on shares of Block in a report on Friday, July 26th. One research analyst has rated the stock with a sell rating, six have given a hold rating, twenty-four have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $88.79.

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.