Ballentine Partners LLC Has $432,000 Position in Block, Inc. (NYSE:SQ)

Ballentine Partners LLC grew its stake in Block, Inc. (NYSE:SQ) by 11.7% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 6,430 shares of the technology company’s stock after buying an additional 671 shares during the period. Ballentine Partners LLC’s holdings in Block were worth $432,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently made changes to their positions in SQ. Financial Partners Group LLC acquired a new stake in shares of Block during the third quarter worth $252,000. Global Trust Asset Management LLC grew its holdings in Block by 32.4% during the 3rd quarter. Global Trust Asset Management LLC now owns 3,463 shares of the technology company’s stock worth $232,000 after acquiring an additional 848 shares during the period. IFM Investors Pty Ltd raised its position in shares of Block by 0.4% in the 3rd quarter. IFM Investors Pty Ltd now owns 109,276 shares of the technology company’s stock worth $7,336,000 after acquiring an additional 489 shares in the last quarter. Yoder Wealth Management Inc. lifted its stake in shares of Block by 0.4% in the 3rd quarter. Yoder Wealth Management Inc. now owns 39,688 shares of the technology company’s stock valued at $2,664,000 after purchasing an additional 145 shares during the period. Finally, International Assets Investment Management LLC acquired a new stake in Block during the third quarter worth approximately $58,850,000. 70.44% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on the company. Needham & Company LLC cut their price target on Block from $105.00 to $80.00 and set a “buy” rating on the stock in a report on Monday, August 5th. William Blair upgraded shares of Block to a “strong-buy” rating in a report on Wednesday, July 31st. Macquarie reiterated an “outperform” rating and set a $100.00 price objective on shares of Block in a report on Friday, July 26th. UBS Group reduced their target price on Block from $100.00 to $92.00 and set a “buy” rating for the company in a research note on Tuesday, August 27th. Finally, Morgan Stanley cut 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. 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 assigned a strong buy rating to the company’s stock. According to MarketBeat, Block presently has an average rating of “Moderate Buy” and a consensus target price of $88.79.

Insider Activity at Block

In other Block news, Director Roelof Botha purchased 434,405 shares of the stock in a transaction on Tuesday, August 6th. The shares were purchased at an average price of $57.55 per share, with a total value of $25,000,007.75. Following the acquisition, the director now directly owns 434,405 shares in the company, valued at approximately $25,000,007.75. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In related news, Director Roelof Botha acquired 434,405 shares of the company’s stock in a transaction dated Tuesday, August 6th. The stock was bought at an average cost of $57.55 per share, with a total value of $25,000,007.75. Following the acquisition, the director now owns 434,405 shares of the company’s stock, valued at approximately $25,000,007.75. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CAO Ajmere Dale sold 500 shares of the stock in a transaction on Tuesday, August 13th. The shares were sold at an average price of $61.88, for a total value of $30,940.00. Following the completion of the transaction, the chief accounting officer now directly owns 92,366 shares in the company, valued at approximately $5,715,608.08. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 25,214 shares of company stock valued at $1,637,932. Company insiders own 10.49% of the company’s stock.

Block Trading Up 0.1 %

Shares of SQ opened at $72.61 on Monday. The business’s 50-day moving average price is $67.22 and its 200-day moving average price is $67.02. The company has a quick ratio of 1.82, a current ratio of 1.82 and a debt-to-equity ratio of 0.26. Block, Inc. has a twelve month low of $38.85 and a twelve month high of $87.52. The stock has a market cap of $44.80 billion, a PE ratio of 94.30, a P/E/G ratio of 0.99 and a beta of 2.49.

Block (NYSE:SQ) last posted its earnings results on Thursday, August 1st. The technology company reported $0.93 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.84 by $0.09. The business had revenue of $6.16 billion for the quarter, compared to analysts’ expectations of $6.27 billion. Block had a net margin of 3.47% and a return on equity of 3.77%. The business’s revenue for the quarter was up 11.2% compared to the same quarter last year. During the same period in the prior year, the company posted $0.40 EPS. On average, equities analysts forecast that Block, Inc. will post 1.71 EPS for the current fiscal year.

Block 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.