Block, Inc. (NYSE:SQ) Shares Bought by Caz Investments LP

Caz Investments LP increased its stake in Block, Inc. (NYSE:SQ) by 100.0% in the third quarter, Holdings Channel.com reports. The institutional investor owned 3,000 shares of the technology company’s stock after purchasing an additional 1,500 shares during the quarter. Block comprises about 0.1% of Caz Investments LP’s holdings, making the stock its 16th largest position. Caz Investments LP’s holdings in Block were worth $198,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. Bridgewater Associates LP increased its stake in Block by 2,156.0% during the 3rd quarter. Bridgewater Associates LP now owns 395,697 shares of the technology company’s stock worth $26,563,000 after buying an additional 378,157 shares during the period. Townsquare Capital LLC increased its position in shares of Block by 192.5% during the third quarter. Townsquare Capital LLC now owns 58,873 shares of the technology company’s stock worth $3,952,000 after acquiring an additional 38,748 shares during the last quarter. J. Stern & Co. LLP lifted its stake in shares of Block by 103.4% in the third quarter. J. Stern & Co. LLP now owns 33,447 shares of the technology company’s stock worth $2,245,000 after acquiring an additional 17,002 shares in the last quarter. Brooklyn Investment Group purchased a new position in Block in the third quarter valued at about $151,000. Finally, D.A. Davidson & CO. grew its stake in Block by 6.7% during the 3rd quarter. D.A. Davidson & CO. now owns 13,850 shares of the technology company’s stock valued at $930,000 after purchasing an additional 864 shares in the last quarter. 70.44% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, insider Brian Grassadonia sold 8,328 shares of the business’s stock in a transaction that occurred on Thursday, November 21st. The stock was sold at an average price of $91.18, for a total transaction of $759,347.04. Following the sale, the insider now owns 563,894 shares of the company’s stock, valued at $51,415,854.92. The trade was a 1.46 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CAO Ajmere Dale sold 500 shares of the company’s stock in a transaction that occurred on Tuesday, October 1st. The stock was sold at an average price of $67.00, for a total value of $33,500.00. Following the completion of the sale, the chief accounting officer now owns 90,460 shares of the company’s stock, valued at $6,060,820. This trade represents a 0.55 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 29,053 shares of company stock valued at $2,393,972 over the last 90 days. 10.49% of the stock is currently owned by company insiders.

Block Trading Down 1.9 %

Shares of SQ stock opened at $89.04 on Wednesday. Block, Inc. has a 1 year low of $55.00 and a 1 year high of $94.12. The firm has a market capitalization of $55.19 billion, a PE ratio of 50.02, a price-to-earnings-growth ratio of 1.22 and a beta of 2.48. The stock has a fifty day moving average of $74.76 and a two-hundred day moving average of $68.32. The company has a debt-to-equity ratio of 0.26, a quick ratio of 2.07 and a current ratio of 2.07.

Analysts Set New Price Targets

A number of equities analysts have issued reports on the company. BMO Capital Markets lowered Block from an “outperform” rating to a “market perform” rating and upped their target price for the company from $94.00 to $100.00 in a research report on Monday. BNP Paribas downgraded shares of Block from an “outperform” rating to a “neutral” rating and set a $88.00 price objective on the stock. in a research note on Wednesday, November 20th. Needham & Company LLC raised their price objective on shares of Block from $80.00 to $90.00 and gave the stock a “buy” rating in a report on Friday, November 8th. William Blair restated an “outperform” rating on shares of Block in a research note on Friday, November 15th. Finally, Oppenheimer started coverage on Block in a research note on Tuesday, October 1st. They issued a “market perform” rating for the company. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and twenty-three have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $91.46.

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.