Block, Inc. (NYSE:SQ) Stock Position Lessened by KBC Group NV

KBC Group NV lowered its stake in Block, Inc. (NYSE:SQ) by 87.1% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm 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.

A number of other institutional investors and hedge funds have also recently bought and sold shares of SQ. LRI Investments LLC bought a new stake in shares of Block during the 1st quarter worth about $34,000. Unique Wealth Strategies LLC bought a new stake in Block during the second quarter worth approximately $34,000. Migdal Insurance & Financial Holdings Ltd. acquired a new stake in Block in the second quarter worth approximately $44,000. V Square Quantitative Management LLC bought a new position in Block during the 3rd quarter valued at $46,000. Finally, Hobbs Group Advisors LLC acquired a new position in shares of Block during the 2nd quarter valued at $49,000. Institutional investors own 70.44% of the company’s stock.

Insider Activity at Block

In other Block news, CAO Ajmere Dale sold 1,406 shares of the firm’s stock in a transaction dated Wednesday, August 21st. The stock was sold at an average price of $64.70, for a total transaction of $90,968.20. Following the transaction, the chief accounting officer now directly owns 90,960 shares in the company, valued at $5,885,112. This trade represents a 1.52 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Amrita Ahuja sold 6,661 shares of the company’s stock in a transaction dated Wednesday, August 21st. The stock was sold at an average price of $64.70, for a total value of $430,966.70. Following the sale, the chief financial officer now owns 264,697 shares of the company’s stock, valued at approximately $17,125,895.90. This trade represents a 2.45 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 28,678 shares of company stock valued at $1,924,112. 10.49% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on the company. Needham & Company LLC raised their target price on Block from $80.00 to $90.00 and gave the company a “buy” rating in a research note on Friday, November 8th. Oppenheimer started coverage on shares of Block in a research report on Tuesday, October 1st. They set a “market perform” rating for the company. BMO Capital Markets dropped their target price on shares of Block from $93.00 to $92.00 and set an “outperform” rating on the stock in a report on Thursday, October 3rd. Piper Sandler restated an “overweight” rating and set a $83.00 target price on shares of Block in a report on Monday, November 11th. Finally, Macquarie reiterated an “outperform” rating and set a $100.00 price objective on shares of Block in a research report on Friday, July 26th. One investment analyst has rated the stock with a sell rating, five have given a hold rating and twenty-four have assigned a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $91.30.

Block Stock Up 1.1 %

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

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.