Integrated Advisors Network LLC Trims Position in Block, Inc. (NYSE:SQ)

Integrated Advisors Network LLC lowered its stake in shares of Block, Inc. (NYSE:SQ) by 22.2% during the third quarter, HoldingsChannel.com reports. The institutional investor owned 9,318 shares of the technology company’s stock after selling 2,652 shares during the period. Integrated Advisors Network LLC’s holdings in Block were worth $626,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also recently added to or reduced their stakes in the stock. LRI Investments LLC purchased a new position in shares of Block in the 1st quarter valued at approximately $34,000. Unique Wealth Strategies LLC acquired a new stake in shares of Block during the second quarter worth $34,000. Migdal Insurance & Financial Holdings Ltd. purchased a new position in Block in the 2nd quarter valued at $44,000. V Square Quantitative Management LLC purchased a new position in Block in the 3rd quarter valued at $46,000. Finally, Hobbs Group Advisors LLC acquired a new position in Block in the 2nd quarter valued at $49,000. Institutional investors and hedge funds own 70.44% of the company’s stock.

Analysts Set New Price Targets

Several research firms have recently commented on SQ. Deutsche Bank Aktiengesellschaft raised their target price on shares of Block from $90.00 to $98.00 and gave the stock a “buy” rating in a research note on Friday, July 12th. Needham & Company LLC lowered their price objective on Block from $105.00 to $80.00 and set a “buy” rating on the stock in a report on Monday, August 5th. Benchmark reissued a “buy” rating and set a $99.00 target price on shares of Block in a research note on Friday, August 2nd. Macquarie reissued an “outperform” rating and issued a $100.00 price target on shares of Block in a report on Friday, July 26th. Finally, UBS Group dropped their price objective on Block from $100.00 to $92.00 and set a “buy” rating on the stock in a report on Tuesday, August 27th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating, twenty-four have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, Block has an average rating of “Moderate Buy” and an average target price of $88.79.

Block Trading Down 1.3 %

Block stock opened at $72.32 on Friday. The stock has a 50-day moving average price of $67.87 and a 200 day moving average price of $66.96. Block, Inc. has a 52 week low of $38.88 and a 52 week high of $87.52. 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 company has a current ratio of 1.82, a quick ratio of 1.82 and a debt-to-equity ratio of 0.26.

Block (NYSE:SQ) last issued its quarterly earnings results on Thursday, August 1st. The technology company reported $0.93 EPS for the quarter, topping analysts’ consensus estimates 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 net margin of 3.47% and a return on equity of 3.77%. The company’s quarterly revenue was up 11.2% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.40 earnings per share. Equities research analysts predict that Block, Inc. will post 1.71 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Block news, Director Roelof Botha purchased 434,405 shares of the business’s stock in a transaction on Tuesday, August 6th. The stock was bought at an average cost of $57.55 per share, for a total transaction 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 acquisition was disclosed in a legal filing with the SEC, which is available at this link. 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 price of $57.55 per share, with a total value of $25,000,007.75. Following the purchase, the director now directly owns 434,405 shares in the company, valued at $25,000,007.75. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, CFO Amrita Ahuja sold 5,935 shares of the firm’s stock in a transaction that occurred on Wednesday, October 2nd. The stock was sold at an average price of $65.53, for a total transaction of $388,920.55. Following the completion of the sale, the chief financial officer now directly owns 255,496 shares in the company, valued at $16,742,652.88. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 25,214 shares of company stock worth $1,637,932. 10.49% of the stock is owned by insiders.

About Block

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.