Block, Inc. (NYSE:SQ) Shares Sold by Valeo Financial Advisors LLC

Valeo Financial Advisors LLC trimmed its stake in shares of Block, Inc. (NYSE:SQ) by 18.3% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 3,039 shares of the technology company’s stock after selling 682 shares during the quarter. Valeo Financial Advisors LLC’s holdings in Block were worth $204,000 at the end of the most recent quarter.

Several other hedge funds also recently added to or reduced their stakes in the stock. Livforsakringsbolaget Skandia Omsesidigt raised its stake in shares of Block by 272.1% in the 3rd quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 4,249 shares of the technology company’s stock valued at $285,000 after purchasing an additional 3,107 shares in the last quarter. Profit Investment Management LLC lifted its holdings in Block by 34.6% during the 3rd quarter. Profit Investment Management LLC now owns 12,337 shares of the technology company’s stock worth $828,000 after buying an additional 3,173 shares during the last quarter. Tobam grew its position in shares of Block by 15.0% in the 3rd quarter. Tobam now owns 3,988 shares of the technology company’s stock worth $268,000 after acquiring an additional 520 shares in the last quarter. Wedmont Private Capital grew its position in shares of Block by 7.4% in the 3rd quarter. Wedmont Private Capital now owns 4,316 shares of the technology company’s stock worth $284,000 after acquiring an additional 298 shares in the last quarter. Finally, CWM LLC increased its holdings in shares of Block by 7.0% in the 3rd quarter. CWM LLC now owns 16,670 shares of the technology company’s stock valued at $1,119,000 after acquiring an additional 1,090 shares during the last quarter. 70.44% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other news, Director Roelof Botha bought 434,405 shares of the firm’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 completion of the acquisition, the director now directly owns 434,405 shares in the company, valued at $25,000,007.75. The purchase was disclosed in a filing with the SEC, which is available at this hyperlink. In other Block news, insider Brian Grassadonia sold 8,328 shares of the firm’s stock in a transaction dated Wednesday, August 21st. The stock was sold at an average price of $64.77, for a total transaction of $539,404.56. Following the completion of the sale, the insider now directly owns 580,086 shares in the company, valued at approximately $37,572,170.22. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Roelof Botha bought 434,405 shares of the stock in a transaction on Tuesday, August 6th. The shares were acquired at an average cost of $57.55 per share, for a total transaction of $25,000,007.75. Following the purchase, the director now owns 434,405 shares in the company, valued at approximately $25,000,007.75. The disclosure for this purchase can be found here. In the last quarter, insiders have sold 25,214 shares of company stock valued at $1,637,932. 10.49% of the stock is owned by corporate insiders.

Analyst Ratings Changes

SQ has been the topic of several research analyst reports. Deutsche Bank Aktiengesellschaft raised their price objective on Block from $90.00 to $98.00 and gave the stock a “buy” rating in a research note on Friday, July 12th. BMO Capital Markets decreased their price target on shares of Block from $93.00 to $92.00 and set an “outperform” rating for the company in a report on Thursday, October 3rd. Oppenheimer began coverage on shares of Block in a research note on Tuesday, October 1st. They set a “market perform” rating on the stock. 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 note on Monday, August 5th. Finally, Morgan Stanley dropped their price target 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 analyst has rated the stock with a sell rating, six have given 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 has an average rating of “Moderate Buy” and an average price target of $88.79.

Block Stock Up 0.2 %

NYSE SQ opened at $71.80 on Wednesday. Block, Inc. has a 12 month low of $38.85 and a 12 month high of $87.52. The company has a market capitalization of $44.20 billion, a P/E ratio of 56.09, a PEG ratio of 0.93 and a beta of 2.49. The company’s 50 day simple moving average is $65.49 and its 200 day simple moving average is $67.25. The company has a debt-to-equity ratio of 0.26, a current ratio of 1.82 and a quick ratio of 1.82.

Block (NYSE:SQ) last announced its quarterly earnings data on Thursday, August 1st. The technology company reported $0.93 EPS for the quarter, beating analysts’ consensus estimates of $0.84 by $0.09. The company 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 company’s quarterly revenue was up 11.2% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.40 EPS. Equities research analysts expect that Block, Inc. will post 1.71 earnings per share for the current fiscal year.

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.