Block, Inc. (NYSE:SQ) Shares Sold by Dynamic Advisor Solutions LLC

Dynamic Advisor Solutions LLC reduced its stake in shares of Block, Inc. (NYSE:SQ) by 20.6% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 4,650 shares of the technology company’s stock after selling 1,209 shares during the period. Dynamic Advisor Solutions LLC’s holdings in Block were worth $312,000 as of its most recent SEC filing.

Other large investors have also made changes to their positions in the company. Baillie Gifford & Co. boosted its holdings in Block by 45.7% in the 2nd quarter. Baillie Gifford & Co. now owns 10,085,229 shares of the technology company’s stock valued at $650,396,000 after purchasing an additional 3,163,975 shares during the last quarter. Vanguard Group Inc. raised its position in shares of Block by 3.7% during the 4th quarter. Vanguard Group Inc. now owns 36,192,701 shares of the technology company’s stock valued at $2,799,505,000 after buying an additional 1,277,043 shares during the period. Lone Pine Capital LLC lifted its holdings in Block by 13.9% in 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 during the last quarter. D1 Capital Partners L.P. grew its position in Block by 76.7% in the second 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 period. Finally, Canada Pension Plan Investment Board increased its stake in Block by 1,061.0% during the second quarter. Canada Pension Plan Investment Board now owns 657,667 shares of the technology company’s stock worth $42,413,000 after acquiring an additional 601,020 shares during the last quarter. 70.44% of the stock is currently owned by hedge funds and other institutional investors.

Block Stock Performance

Shares of SQ stock opened at $69.70 on Friday. The stock has a fifty day moving average price of $64.91 and a 200 day moving average price of $67.54. The company has a debt-to-equity ratio of 0.26, a quick ratio of 1.82 and a current ratio of 1.82. The stock has a market cap of $43.01 billion, a PE ratio of 90.52, a P/E/G ratio of 0.91 and a beta of 2.49. Block, Inc. has a 1 year low of $38.85 and a 1 year high of $87.52.

Block (NYSE:SQ) last released its quarterly 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 during the quarter, compared to the consensus estimate of $6.27 billion. Block had a return on equity of 3.77% and a net margin of 3.47%. The business’s revenue was up 11.2% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.40 EPS. Sell-side analysts forecast that Block, Inc. will post 1.71 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

SQ has been the topic of several recent analyst reports. Macquarie reaffirmed an “outperform” rating and issued a $100.00 price target on shares of Block in a research note on Friday, July 26th. Wells Fargo & Company decreased their target price on shares of Block from $95.00 to $85.00 and set an “overweight” rating on the stock in a research report on Friday, August 2nd. Needham & Company LLC dropped their price target on shares of Block from $105.00 to $80.00 and set a “buy” rating for the company in a research report on Monday, August 5th. Oppenheimer initiated coverage on shares of Block in a research note on Tuesday, October 1st. They issued a “market perform” rating on the stock. Finally, William Blair raised shares of Block to a “strong-buy” rating in a research report on Wednesday, July 31st. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating, twenty-four have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $87.31.

Insider Buying and Selling at Block

In related news, CAO Ajmere Dale sold 500 shares of Block stock in a transaction that occurred on Tuesday, August 13th. The stock was sold at an average price of $61.88, for a total transaction 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 $5,715,608.08. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. In related news, CAO Ajmere Dale sold 500 shares of Block stock in a transaction dated Tuesday, August 13th. The stock was sold at an average price of $61.88, for a total transaction of $30,940.00. Following the completion of the sale, the chief accounting officer now owns 92,366 shares in the company, valued at approximately $5,715,608.08. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CFO Amrita Ahuja sold 6,661 shares of the company’s stock in a transaction dated Wednesday, August 21st. The shares were sold at an average price of $64.70, for a total transaction of $430,966.70. Following the completion of the transaction, the chief financial officer now owns 264,697 shares in the company, valued at approximately $17,125,895.90. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 27,714 shares of company stock valued at $1,812,932 over the last quarter. 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.