Block, Inc. (NYSE:SQ) Shares Purchased by Penserra Capital Management LLC

Penserra Capital Management LLC raised its position in Block, Inc. (NYSE:SQ) by 2.8% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 221,083 shares of the technology company’s stock after acquiring an additional 5,995 shares during the quarter. Penserra Capital Management LLC’s holdings in Block were worth $14,840,000 as of its most recent SEC filing.

Other institutional investors also recently bought and sold shares of the company. Yoder Wealth Management Inc. raised its stake in shares of Block by 0.4% in the third quarter. Yoder Wealth Management Inc. now owns 39,688 shares of the technology company’s stock valued at $2,664,000 after acquiring an additional 145 shares in the last quarter. Nations Financial Group Inc. IA ADV increased its holdings in Block by 1.9% during the 3rd quarter. Nations Financial Group Inc. IA ADV now owns 7,744 shares of the technology company’s stock worth $520,000 after purchasing an additional 145 shares during the period. Moser Wealth Advisors LLC increased its holdings in Block by 2.5% during the 3rd quarter. Moser Wealth Advisors LLC now owns 6,265 shares of the technology company’s stock worth $421,000 after purchasing an additional 153 shares during the period. Lindbrook Capital LLC raised its position in Block by 6.3% in the 3rd quarter. Lindbrook Capital LLC now owns 2,592 shares of the technology company’s stock valued at $174,000 after purchasing an additional 154 shares in the last quarter. Finally, Quintet Private Bank Europe S.A. grew its position in shares of Block by 13.8% during the third quarter. Quintet Private Bank Europe S.A. now owns 1,351 shares of the technology company’s stock worth $91,000 after buying an additional 164 shares in the last quarter. 70.44% of the stock is owned by institutional investors and hedge funds.

Block Trading Down 0.5 %

NYSE:SQ opened at $92.26 on Friday. The company has a current ratio of 2.07, a quick ratio of 2.07 and a debt-to-equity ratio of 0.26. The stock’s 50 day simple moving average is $73.83 and its 200-day simple moving average is $68.10. Block, Inc. has a 12-month low of $55.00 and a 12-month high of $94.12. The firm has a market cap of $57.18 billion, a P/E ratio of 51.83, a PEG ratio of 1.25 and a beta of 2.48.

Wall Street Analyst Weigh In

Several analysts recently weighed in on the stock. Keefe, Bruyette & Woods raised their target price on shares of Block from $71.00 to $80.00 and gave the company a “market perform” rating in a report on Friday, November 8th. Wells Fargo & Company reduced their price objective on shares of Block from $95.00 to $85.00 and set an “overweight” rating on the stock in a report on Friday, August 2nd. Oppenheimer initiated coverage on shares of Block in a research report on Tuesday, October 1st. They set a “market perform” rating for the company. Piper Sandler reissued an “overweight” rating and issued a $83.00 target price on shares of Block in a report on Monday, November 11th. Finally, Benchmark reaffirmed a “buy” rating and set a $99.00 price target on shares of Block in a report on Friday, August 2nd. One research analyst has rated the stock with a sell rating, six have given a hold rating and twenty-four have given a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $91.18.

Insider Buying and Selling at Block

In related news, insider Brian Grassadonia sold 1,884 shares of the company’s stock in a transaction on Wednesday, October 2nd. The stock was sold at an average price of $65.41, for a total transaction of $123,232.44. Following the transaction, the insider now owns 574,914 shares of the company’s stock, valued at $37,605,124.74. This represents a 0.33 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CAO Ajmere Dale sold 500 shares of the firm’s stock in a transaction on Tuesday, October 1st. The shares were sold at an average price of $67.00, for a total value of $33,500.00. Following the completion of the sale, the chief accounting officer now directly owns 90,460 shares of the company’s stock, valued at approximately $6,060,820. This trade represents a 0.55 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 12,283 shares of company stock valued at $862,773. 10.49% of the stock is owned by company insiders.

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.