Block, Inc. (NYSE:SQ) Shares Purchased by Malaga Cove Capital LLC

Malaga Cove Capital LLC boosted its stake in Block, Inc. (NYSE:SQ) by 3.0% in the 3rd quarter, Holdings Channel reports. The firm owned 6,893 shares of the technology company’s stock after purchasing an additional 200 shares during the period. Malaga Cove Capital LLC’s holdings in Block were worth $463,000 at the end of the most recent quarter.

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

Analysts Set New Price Targets

SQ has been the topic of a number of recent research reports. BMO Capital Markets cut their price objective on Block from $93.00 to $92.00 and set an “outperform” rating on the stock in a research report on Thursday, October 3rd. UBS Group cut their price target on Block from $100.00 to $92.00 and set a “buy” rating on the stock in a report on Tuesday, August 27th. Macquarie reiterated an “outperform” rating and issued a $100.00 price objective on shares of Block in a research note on Friday, July 26th. Deutsche Bank Aktiengesellschaft boosted their price objective on Block from $90.00 to $98.00 and gave the stock a “buy” rating in a research report on Friday, July 12th. Finally, Needham & Company LLC reduced their target price on shares of Block from $105.00 to $80.00 and set a “buy” rating on the stock in a report on Monday, August 5th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating, twenty-three have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $89.96.

Block Price Performance

Shares of SQ opened at $77.62 on Thursday. The company has a debt-to-equity ratio of 0.26, a quick ratio of 1.82 and a current ratio of 1.82. Block, Inc. has a fifty-two week low of $49.71 and a fifty-two week high of $87.52. The firm has a 50-day simple moving average of $68.52 and a 200-day simple moving average of $66.95. The company has a market capitalization of $47.79 billion, a price-to-earnings ratio of 60.64, a price-to-earnings-growth ratio of 0.99 and a beta of 2.48.

Insider Buying and Selling at Block

In related news, insider Brian Grassadonia sold 8,328 shares of Block stock in a transaction on Wednesday, August 21st. The shares were sold at an average price of $64.77, for a total value of $539,404.56. Following the transaction, the insider now directly owns 580,086 shares in the company, valued at $37,572,170.22. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. In related news, insider Brian Grassadonia sold 8,328 shares of the stock in a transaction dated Wednesday, August 21st. The shares were sold at an average price of $64.77, for a total transaction of $539,404.56. Following the completion of the transaction, the insider now directly owns 580,086 shares of the company’s stock, valued at $37,572,170.22. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, CAO Ajmere Dale sold 500 shares of the firm’s stock in a transaction dated Tuesday, August 13th. The shares were 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 of the company’s stock, valued at approximately $5,715,608.08. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 25,214 shares of company stock valued at $1,637,932 in the last ninety days. 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.