Block, Inc. (NYSE:SQ) Shares Sold by Qsemble Capital Management LP

Qsemble Capital Management LP decreased its position in shares of Block, Inc. (NYSE:SQ) by 58.8% during the 3rd quarter, according to its most recent disclosure with the SEC. The firm owned 16,450 shares of the technology company’s stock after selling 23,490 shares during the period. Qsemble Capital Management LP’s holdings in Block were worth $1,104,000 as of its most recent SEC filing.

Other hedge funds have also recently bought and sold shares of the company. SVB Wealth LLC lifted its position in Block by 5.6% during the first quarter. SVB Wealth LLC now owns 4,960 shares of the technology company’s stock worth $420,000 after buying an additional 261 shares during the period. B. Riley Wealth Advisors Inc. lifted its holdings in shares of Block by 8.9% during the 1st quarter. B. Riley Wealth Advisors Inc. now owns 13,827 shares of the technology company’s stock worth $1,169,000 after acquiring an additional 1,132 shares during the period. iA Global Asset Management Inc. lifted its holdings in shares of Block by 28.3% during the 1st quarter. iA Global Asset Management Inc. now owns 10,330 shares of the technology company’s stock worth $874,000 after acquiring an additional 2,277 shares during the period. Plato Investment Management Ltd boosted its position in shares of Block by 587.8% in the first quarter. Plato Investment Management Ltd now owns 14,547 shares of the technology company’s stock worth $1,230,000 after acquiring an additional 12,432 shares during the last quarter. Finally, National Wealth Management Group LLC purchased a new stake in Block in the first quarter valued at approximately $518,000. Institutional investors and hedge funds own 70.44% of the company’s stock.

Block Stock Down 1.9 %

SQ stock opened at $89.04 on Wednesday. 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 firm has a 50 day simple moving average of $74.76 and a 200-day simple moving average of $68.32. The company has a market capitalization of $55.19 billion, a P/E ratio of 50.02, a PEG ratio of 1.22 and a beta of 2.48. Block, Inc. has a twelve month low of $55.00 and a twelve month high of $94.12.

Insider Buying and Selling at Block

In related news, CAO Ajmere Dale sold 1,781 shares of the company’s stock in a transaction that occurred on Thursday, November 21st. The stock was sold at an average price of $91.43, for a total transaction of $162,836.83. Following the sale, the chief accounting officer now directly owns 86,010 shares of the company’s stock, valued at approximately $7,863,894.30. This represents a 2.03 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Brian Grassadonia sold 1,884 shares of Block 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 completion of the transaction, the insider now directly owns 574,914 shares of the company’s stock, valued at approximately $37,605,124.74. This represents a 0.33 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 29,053 shares of company stock worth $2,393,972 in the last ninety days. 10.49% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on SQ shares. BMO Capital Markets downgraded shares of Block from an “outperform” rating to a “market perform” rating and increased their price target for the stock from $94.00 to $100.00 in a research note on Monday. William Blair restated an “outperform” rating on shares of Block in a report on Friday, November 15th. BNP Paribas cut Block from an “outperform” rating to a “neutral” rating and set a $88.00 target price on the stock. in a report on Wednesday, November 20th. Morgan Stanley dropped their price target on Block from $60.00 to $55.00 and set an “underweight” rating for the company in a research note on Tuesday, July 30th. Finally, Needham & Company LLC lifted their price objective on Block from $80.00 to $90.00 and gave the company a “buy” rating in a research note on Friday, November 8th. One analyst has rated the stock with a sell rating, seven have given a hold rating and twenty-three have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $91.46.

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.