Block, Inc. (NYSE:SQ) Shares Acquired by Nordea Investment Management AB

Nordea Investment Management AB increased its holdings in Block, Inc. (NYSE:SQ) by 3.8% in the 1st quarter, according to its most recent 13F filing with the SEC. The firm owned 38,862 shares of the technology company’s stock after buying an additional 1,438 shares during the period. Nordea Investment Management AB’s holdings in Block were worth $3,253,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of SQ. Lido Advisors LLC boosted its stake in Block by 15.6% during the 3rd quarter. Lido Advisors LLC now owns 4,934 shares of the technology company’s stock valued at $218,000 after purchasing an additional 664 shares during the period. Townsquare Capital LLC boosted its stake in Block by 12.9% during the 3rd quarter. Townsquare Capital LLC now owns 29,800 shares of the technology company’s stock valued at $1,319,000 after purchasing an additional 3,412 shares during the period. Integrated Advisors Network LLC boosted its stake in Block by 18.0% during the 3rd quarter. Integrated Advisors Network LLC now owns 11,139 shares of the technology company’s stock valued at $493,000 after purchasing an additional 1,697 shares during the period. Sunbelt Securities Inc. lifted its stake in shares of Block by 9.3% in the 3rd quarter. Sunbelt Securities Inc. now owns 7,637 shares of the technology company’s stock worth $338,000 after acquiring an additional 652 shares during the period. Finally, Wesbanco Bank Inc. acquired a new stake in shares of Block in the 3rd quarter worth approximately $225,000. 70.44% of the stock is owned by institutional investors and hedge funds.

Block Stock Performance

Shares of SQ opened at $64.34 on Thursday. The company’s 50 day moving average price is $66.39 and its 200 day moving average price is $70.97. Block, Inc. has a 52 week low of $38.85 and a 52 week high of $87.52. The company has a market capitalization of $39.70 billion, a PE ratio of 83.56, a PEG ratio of 1.50 and a beta of 2.52. The company has a debt-to-equity ratio of 0.16, a quick ratio of 1.64 and a current ratio of 1.64.

Block (NYSE:SQ) last announced its quarterly earnings data on Thursday, May 2nd. The technology company reported $0.47 EPS for the quarter, beating analysts’ consensus estimates of $0.15 by $0.32. Block had a net margin of 2.18% and a return on equity of 2.04%. The firm had revenue of $5.96 billion for the quarter, compared to the consensus estimate of $5.75 billion. Research analysts expect that Block, Inc. will post 1.28 EPS for the current fiscal year.

Analyst Ratings Changes

SQ has been the subject of a number of research analyst reports. Needham & Company LLC upped their price target on shares of Block from $95.00 to $105.00 and gave the stock a “buy” rating in a research note on Friday, May 3rd. Morgan Stanley reaffirmed an “underweight” rating and issued a $60.00 price target (down from $62.00) on shares of Block in a research note on Thursday, April 4th. Mizuho upped their price target on shares of Block from $99.00 to $106.00 and gave the stock a “buy” rating in a research note on Wednesday, April 10th. Susquehanna reaffirmed a “positive” rating and issued a $100.00 price target on shares of Block in a research note on Wednesday, June 26th. Finally, Benchmark reaffirmed a “buy” rating and issued a $99.00 price target on shares of Block in a research note on Friday, May 3rd. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and twenty-seven have given a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $87.00.

Insider Activity at Block

In related news, CAO Ajmere Dale sold 1,278 shares of the business’s stock in a transaction that occurred on Tuesday, May 21st. The shares were sold at an average price of $71.26, for a total transaction of $91,070.28. Following the transaction, the chief accounting officer now directly owns 93,337 shares of the company’s stock, valued at $6,651,194.62. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Block news, insider Brian Grassadonia sold 5,155 shares of the business’s stock in a transaction that occurred on Tuesday, May 21st. The shares were sold at an average price of $71.26, for a total value of $367,345.30. Following the completion of the sale, the insider now directly owns 599,150 shares of the company’s stock, valued at $42,695,429. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CAO Ajmere Dale sold 1,278 shares of the business’s stock in a transaction that occurred on Tuesday, May 21st. The stock was sold at an average price of $71.26, for a total transaction of $91,070.28. Following the completion of the sale, the chief accounting officer now directly owns 93,337 shares of the company’s stock, valued at $6,651,194.62. The disclosure for this sale can be found here. Over the last three months, insiders have sold 135,673 shares of company stock valued at $9,188,222. Corporate insiders own 10.49% of the company’s stock.

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.