Block, Inc. (NYSE:SQ) Shares Sold by KBC Group NV

KBC Group NV cut its position in shares of Block, Inc. (NYSE:SQ) by 87.1% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 105,918 shares of the technology company’s stock after selling 712,750 shares during the quarter. KBC Group NV’s holdings in Block were worth $7,110,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. LRI Investments LLC acquired a new stake in Block during the 1st quarter worth approximately $34,000. Unique Wealth Strategies LLC acquired a new stake in shares of Block in the second quarter worth $34,000. Migdal Insurance & Financial Holdings Ltd. purchased a new position in shares of Block in the 2nd quarter valued at $44,000. V Square Quantitative Management LLC acquired a new position in shares of Block during the 3rd quarter valued at $46,000. Finally, Hobbs Group Advisors LLC purchased a new stake in Block during the 2nd quarter worth $49,000. 70.44% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research analysts have commented on the company. Keefe, Bruyette & Woods raised their price objective on Block from $71.00 to $80.00 and gave the company a “market perform” rating in a research report on Friday, November 8th. Needham & Company LLC boosted their price target on Block from $80.00 to $90.00 and gave the stock a “buy” rating in a research report on Friday, November 8th. Canaccord Genuity Group increased their price objective on shares of Block from $95.00 to $120.00 and gave the company a “buy” rating in a research report on Tuesday, November 12th. William Blair reiterated an “outperform” rating on shares of Block in a research note on Friday. Finally, Wells Fargo & Company decreased their target price on shares of Block from $95.00 to $85.00 and set an “overweight” rating for the company in a research note on Friday, August 2nd. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and twenty-four have assigned a buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $91.30.

Block Price Performance

SQ opened at $84.30 on Friday. The company has a quick ratio of 2.07, a current ratio of 2.07 and a debt-to-equity ratio of 0.26. The company’s 50-day moving average price is $70.94 and its 200 day moving average price is $67.39. Block, Inc. has a fifty-two week low of $55.00 and a fifty-two week high of $90.00. The firm has a market cap of $51.90 billion, a price-to-earnings ratio of 47.36, a price-to-earnings-growth ratio of 1.16 and a beta of 2.48.

Insider Transactions at Block

In other Block news, CAO Ajmere Dale sold 1,406 shares of the stock in a transaction on Wednesday, August 21st. The stock was sold at an average price of $64.70, for a total value of $90,968.20. Following the sale, the chief accounting officer now directly owns 90,960 shares of the company’s stock, valued at $5,885,112. This trade represents a 1.52 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider Brian Grassadonia sold 8,328 shares of the firm’s 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 completion of the sale, the insider now owns 580,086 shares in the company, valued at $37,572,170.22. The trade was a 1.42 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 28,678 shares of company stock worth $1,924,112. 10.49% of the stock is currently owned by company insiders.

About Block

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.