5,091 Shares in Block, Inc. (NYSE:SQ) Bought by KG&L Capital Management LLC

KG&L Capital Management LLC acquired a new position in shares of Block, Inc. (NYSE:SQ) during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 5,091 shares of the technology company’s stock, valued at approximately $342,000.

Other large investors also recently bought and sold shares of the company. Lone Pine Capital LLC increased its position in shares of 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 buying an additional 934,588 shares in the last quarter. DekaBank Deutsche Girozentrale increased its position in shares of Block by 2.7% in the third quarter. DekaBank Deutsche Girozentrale now owns 541,204 shares of the technology company’s stock valued at $35,969,000 after buying an additional 14,163 shares in the last quarter. Forsta AP Fonden increased its position in shares of Block by 11.5% in the third quarter. Forsta AP Fonden now owns 115,900 shares of the technology company’s stock valued at $7,780,000 after buying an additional 12,000 shares in the last quarter. Vontobel Holding Ltd. increased its position in shares of Block by 165.2% in the third quarter. Vontobel Holding Ltd. now owns 453,545 shares of the technology company’s stock valued at $30,446,000 after buying an additional 282,550 shares in the last quarter. Finally, Duality Advisers LP increased its position in shares of Block by 2.7% in the first quarter. Duality Advisers LP now owns 34,899 shares of the technology company’s stock valued at $2,952,000 after buying an additional 927 shares in the last quarter. Institutional investors and hedge funds own 70.44% of the company’s stock.

Block Stock Performance

NYSE SQ opened at $72.69 on Tuesday. The firm has a market capitalization of $44.75 billion, a P/E ratio of 56.79, a P/E/G ratio of 0.99 and a beta of 2.48. 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, Inc. has a 1-year low of $48.15 and a 1-year high of $87.52. The business’s 50-day simple moving average is $68.15 and its 200-day simple moving average is $66.86.

Insider Activity at Block

In related news, CAO Ajmere Dale sold 500 shares of the firm’s 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 sale, the chief accounting officer now directly 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 sale was disclosed in a filing with the SEC, which can be accessed through this link. In related news, CAO Ajmere Dale sold 500 shares of the firm’s 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 sale, the chief accounting officer now directly 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 sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Brian Grassadonia sold 8,328 shares of the firm’s stock in a transaction dated Wednesday, August 21st. The shares were sold at an average price of $64.77, for a total value of $539,404.56. Following the sale, the insider now owns 580,086 shares in the company, valued at approximately $37,572,170.22. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 25,214 shares of company stock worth $1,637,932. 10.49% of the stock is currently owned by company insiders.

Analyst Ratings Changes

A number of analysts recently commented on SQ shares. William Blair raised Block to a “strong-buy” rating in a research note on Wednesday, July 31st. Morgan Stanley decreased their price objective on Block from $60.00 to $55.00 and set an “underweight” rating on the stock in a research note on Tuesday, July 30th. Royal Bank of Canada reaffirmed an “outperform” rating and set a $88.00 price objective on shares of Block in a research note on Monday, October 21st. Macquarie reaffirmed an “outperform” rating and set a $100.00 price objective on shares of Block in a research note on Friday, July 26th. Finally, New Street Research started coverage on Block in a research note on Monday, September 9th. They set a “neutral” rating and a $70.00 price objective on the stock. One analyst has rated the stock with a sell rating, five have issued a hold rating, twenty-four have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, Block currently has a consensus rating of “Moderate Buy” and a consensus target price of $88.79.

Block 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.