White Pine Investment CO Sells 250 Shares of Block, Inc. (NYSE:SQ)

White Pine Investment CO lowered its position in shares of Block, Inc. (NYSE:SQ) by 6.6% in the 3rd quarter, HoldingsChannel reports. The institutional investor owned 3,560 shares of the technology company’s stock after selling 250 shares during the quarter. White Pine Investment CO’s holdings in Block were worth $239,000 at the end of the most recent quarter.

A number of other hedge funds have also recently modified their holdings of SQ. Baillie Gifford & Co. boosted its holdings in shares of Block by 45.7% during the second quarter. Baillie Gifford & Co. now owns 10,085,229 shares of the technology company’s stock worth $650,396,000 after purchasing an additional 3,163,975 shares during the period. Lone Pine Capital LLC raised its position in Block by 13.9% during the 2nd quarter. Lone Pine Capital LLC now owns 7,670,523 shares of the technology company’s stock valued at $494,672,000 after purchasing an additional 934,588 shares during the last quarter. D1 Capital Partners L.P. lifted its holdings in Block by 76.7% in the 2nd quarter. D1 Capital Partners L.P. now owns 1,831,342 shares of the technology company’s stock worth $118,103,000 after buying an additional 795,000 shares during the period. Canada Pension Plan Investment Board grew its position in shares of Block by 1,061.0% in the 2nd quarter. Canada Pension Plan Investment Board now owns 657,667 shares of the technology company’s stock worth $42,413,000 after buying an additional 601,020 shares during the last quarter. Finally, Capital World Investors increased its stake in shares of Block by 4.7% during the first quarter. Capital World Investors now owns 13,096,614 shares of the technology company’s stock valued at $1,107,712,000 after buying an additional 582,826 shares during the period. Hedge funds and other institutional investors own 70.44% of the company’s stock.

Insider Activity at Block

In other news, CAO Ajmere Dale sold 500 shares of the firm’s stock in a transaction on Tuesday, August 13th. The stock was sold at an average price of $61.88, for a total value of $30,940.00. Following the transaction, the chief accounting officer now directly owns 92,366 shares in the company, valued at $5,715,608.08. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link. In related news, insider Brian Grassadonia sold 8,328 shares of the business’s stock in a transaction that occurred on 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 sale, the insider now directly 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 sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CAO Ajmere Dale sold 500 shares of the company’s stock in a transaction that occurred on Tuesday, August 13th. The shares were 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 of the company’s stock, valued at approximately $5,715,608.08. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 25,214 shares of company stock worth $1,637,932 over the last quarter. Company insiders own 10.49% of the company’s stock.

Analyst Ratings Changes

A number of analysts recently commented on the company. UBS Group dropped their price target on Block from $100.00 to $92.00 and set a “buy” rating for the company in a research note on Tuesday, August 27th. Keefe, Bruyette & Woods cut their target price on shares of Block from $82.00 to $74.00 and set a “market perform” rating on the stock in a research note on Monday, July 8th. Oppenheimer initiated coverage on shares of Block in a research report on Tuesday, October 1st. They set a “market perform” rating on the stock. Wells Fargo & Company lowered their price objective on shares of Block from $95.00 to $85.00 and set an “overweight” rating for the company in a report on Friday, August 2nd. Finally, Macquarie reiterated an “outperform” rating and set a $100.00 target price on shares of Block in a report on Friday, July 26th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating, twenty-four have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, Block has a consensus rating of “Moderate Buy” and a consensus target price of $88.79.

Block Trading Down 0.2 %

Shares of NYSE:SQ opened at $72.15 on Friday. Block, Inc. has a 1 year low of $42.78 and a 1 year high of $87.52. The stock’s fifty day moving average price is $68.00 and its 200-day moving average price is $66.90. The company has a market cap of $44.42 billion, a P/E ratio of 56.37, a PEG 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 (NYSE:SQ) last announced its quarterly earnings results on Thursday, August 1st. The technology company reported $0.93 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.84 by $0.09. Block had a net margin of 3.47% and a return on equity of 3.77%. The firm had revenue of $6.16 billion for the quarter, compared to the consensus estimate of $6.27 billion. During the same quarter last year, the firm posted $0.40 EPS. The business’s quarterly revenue was up 11.2% compared to the same quarter last year. Sell-side analysts expect that Block, Inc. will post 1.71 earnings per share for the current year.

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.