Golden State Equity Partners Sells 540 Shares of Block, Inc. (NYSE:SQ)

Golden State Equity Partners trimmed its holdings in Block, Inc. (NYSE:SQ) by 13.0% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,601 shares of the technology company’s stock after selling 540 shares during the quarter. Golden State Equity Partners’ holdings in Block were worth $242,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors also recently bought and sold shares of the business. Baillie Gifford & Co. increased its holdings in shares of Block by 45.7% during the second quarter. Baillie Gifford & Co. now owns 10,085,229 shares of the technology company’s stock valued at $650,396,000 after acquiring an additional 3,163,975 shares in the last quarter. Lone Pine Capital LLC increased its position in shares of Block by 13.9% during the second quarter. Lone Pine Capital LLC now owns 7,670,523 shares of the technology company’s stock valued at $494,672,000 after acquiring an additional 934,588 shares in the last quarter. D1 Capital Partners L.P. raised its holdings in Block by 76.7% in the 2nd quarter. D1 Capital Partners L.P. now owns 1,831,342 shares of the technology company’s stock worth $118,103,000 after acquiring an additional 795,000 shares during the last quarter. Canada Pension Plan Investment Board lifted its position in Block by 1,061.0% in the 2nd quarter. Canada Pension Plan Investment Board now owns 657,667 shares of the technology company’s stock valued at $42,413,000 after acquiring an additional 601,020 shares in the last quarter. Finally, Capital World Investors boosted its stake in Block by 4.7% during the 1st quarter. Capital World Investors now owns 13,096,614 shares of the technology company’s stock valued at $1,107,712,000 after purchasing an additional 582,826 shares during the last quarter. 70.44% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Block

In other Block news, CAO Ajmere Dale sold 500 shares of the business’s stock in a transaction on Tuesday, October 1st. The shares were sold at an average price of $67.00, for a total value of $33,500.00. Following the sale, the chief accounting officer now owns 90,460 shares in the company, valued at $6,060,820. 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 the SEC website. In related news, CFO Amrita Ahuja sold 6,661 shares of the firm’s stock in a transaction on Wednesday, August 21st. The shares were sold at an average price of $64.70, for a total value of $430,966.70. Following the completion of the transaction, the chief financial officer now directly owns 264,697 shares of the company’s stock, valued at approximately $17,125,895.90. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CAO Ajmere Dale sold 500 shares of the company’s stock in a transaction on Tuesday, October 1st. The shares were sold at an average price of $67.00, for a total transaction of $33,500.00. Following the sale, the chief accounting officer now directly owns 90,460 shares in the company, valued at approximately $6,060,820. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 25,214 shares of company stock valued at $1,637,932. Corporate insiders own 10.49% of the company’s stock.

Block Stock Down 1.3 %

NYSE SQ opened at $72.32 on Friday. Block, Inc. has a 12 month low of $38.88 and a 12 month high of $87.52. The company has a current ratio of 1.82, a quick ratio of 1.82 and a debt-to-equity ratio of 0.26. The stock has a market cap of $44.62 billion, a PE ratio of 93.92, a P/E/G ratio of 0.99 and a beta of 2.49. The stock’s 50 day moving average is $67.87 and its 200 day moving average is $66.96.

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

Analyst Upgrades and Downgrades

SQ has been the subject of several recent analyst reports. BMO Capital Markets decreased their price target on Block from $93.00 to $92.00 and set an “outperform” rating for the company in a research note on Thursday, October 3rd. Needham & Company LLC decreased their target price on Block from $105.00 to $80.00 and set a “buy” rating for the company in a research report on Monday, August 5th. Royal Bank of Canada reaffirmed an “outperform” rating and set a $88.00 price target on shares of Block in a report on Monday, October 21st. Macquarie reissued an “outperform” rating and set a $100.00 price objective on shares of Block in a report on Friday, July 26th. Finally, Morgan Stanley dropped their target price 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. One analyst has rated the stock with a sell rating, six have issued a hold rating, twenty-four have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the company currently has an average 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.