Block, Inc. (NYSE:SQ) Holdings Raised by Forsta AP Fonden

Forsta AP Fonden increased its position in shares of Block, Inc. (NYSE:SQ) by 11.5% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 115,900 shares of the technology company’s stock after purchasing an additional 12,000 shares during the quarter. Forsta AP Fonden’s holdings in Block were worth $7,780,000 at the end of the most recent reporting period.

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

Insider Buying and Selling

In other Block news, insider Brian Grassadonia sold 8,328 shares of the business’s stock in a transaction on Wednesday, August 21st. The shares were sold at an average price of $64.77, for a total transaction of $539,404.56. Following the sale, the insider now directly owns 580,086 shares of the company’s stock, valued at $37,572,170.22. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In other Block news, insider Brian Grassadonia sold 8,328 shares of Block stock in a transaction dated Wednesday, August 21st. The stock was sold at an average price of $64.77, for a total transaction of $539,404.56. Following the transaction, the insider now owns 580,086 shares of the company’s stock, valued at $37,572,170.22. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CAO Ajmere Dale sold 500 shares of the company’s stock in a transaction dated Tuesday, October 1st. The shares were sold at an average price of $67.00, for a total value of $33,500.00. Following the completion of the transaction, the chief accounting officer now owns 90,460 shares in the company, valued at $6,060,820. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 25,214 shares of company stock valued at $1,637,932. Company insiders own 10.49% of the company’s stock.

Block Stock Performance

Shares of NYSE SQ opened at $72.61 on Monday. Block, Inc. has a 52-week low of $38.85 and a 52-week high of $87.52. The stock has a market capitalization of $44.80 billion, a price-to-earnings ratio of 94.30, a PEG ratio of 0.99 and a beta of 2.49. 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 stock’s fifty day simple moving average is $67.22 and its 200 day simple moving average is $66.94.

Block (NYSE:SQ) last posted its quarterly earnings data on Thursday, August 1st. The technology company reported $0.93 EPS for the quarter, beating analysts’ consensus estimates of $0.84 by $0.09. The company had revenue of $6.16 billion during the quarter, compared to analyst estimates of $6.27 billion. Block had a net margin of 3.47% and a return on equity of 3.77%. The business’s quarterly revenue was up 11.2% on a year-over-year basis. During the same period in the prior year, the firm earned $0.40 earnings per share. As a group, sell-side analysts forecast that Block, Inc. will post 1.71 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on the company. William Blair upgraded Block to a “strong-buy” rating in a research report on Wednesday, July 31st. Macquarie reissued an “outperform” rating and set a $100.00 price target on shares of Block in a report on Friday, July 26th. 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 report on Tuesday, July 30th. UBS Group cut their price objective on shares of Block from $100.00 to $92.00 and set a “buy” rating on the stock in a research report on Tuesday, August 27th. Finally, Keefe, Bruyette & Woods decreased their target price on shares of Block from $82.00 to $74.00 and set a “market perform” rating for the company in a research report on Monday, July 8th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating, twenty-four have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, Block presently has a consensus rating of “Moderate Buy” and an average 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.