Block, Inc. (NYSE:SQ) Shares Sold by Capital International Inc. CA

Capital International Inc. CA lowered its stake in shares of Block, Inc. (NYSE:SQ) by 5.3% in the first quarter, HoldingsChannel reports. The firm owned 24,405 shares of the technology company’s stock after selling 1,370 shares during the quarter. Capital International Inc. CA’s holdings in Block were worth $2,064,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. Advisors Asset Management Inc. boosted its position in Block by 0.8% during the 1st quarter. Advisors Asset Management Inc. now owns 213,236 shares of the technology company’s stock valued at $18,036,000 after purchasing an additional 1,623 shares during the period. Vident Advisory LLC boosted its position in Block by 10.0% during the 1st quarter. Vident Advisory LLC now owns 39,391 shares of the technology company’s stock worth $3,332,000 after acquiring an additional 3,570 shares during the period. LGT Group Foundation acquired a new position in Block during the 1st quarter worth $204,000. Shell Asset Management Co. acquired a new position in Block during the 1st quarter worth $435,000. Finally, Crewe Advisors LLC acquired a new position in Block during the 1st quarter worth $65,000. Institutional investors and hedge funds own 70.44% of the company’s stock.

Insider Buying and Selling

In related news, insider Chrysty Esperanza sold 2,500 shares of the stock in a transaction that occurred on Monday, July 15th. The stock was sold at an average price of $70.00, for a total transaction of $175,000.00. Following the sale, the insider now directly owns 92,048 shares in the company, valued at approximately $6,443,360. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In other Block news, insider Brian Grassadonia sold 5,155 shares of the stock in a transaction on Tuesday, May 21st. The stock was sold at an average price of $71.26, for a total value of $367,345.30. Following the transaction, the insider now directly owns 599,150 shares in the company, valued at approximately $42,695,429. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Chrysty Esperanza sold 2,500 shares of the stock in a transaction on Monday, July 15th. The shares were sold at an average price of $70.00, for a total value of $175,000.00. Following the completion of the transaction, the insider now owns 92,048 shares in the company, valued at $6,443,360. The disclosure for this sale can be found here. Insiders have sold a total of 138,173 shares of company stock worth $9,363,222 in the last three months. Insiders own 10.49% of the company’s stock.

Block Price Performance

NYSE SQ traded down $1.40 during trading hours on Friday, reaching $60.18. 11,388,681 shares of the company’s stock were exchanged, compared to its average volume of 6,080,625. The stock has a market cap of $37.13 billion, a PE ratio of 78.13, a price-to-earnings-growth ratio of 1.44 and a beta of 2.52. Block, Inc. has a one year low of $38.85 and a one year high of $87.52. The firm has a fifty day moving average of $65.37 and a 200-day moving average of $70.42. The company has a current ratio of 1.64, a quick ratio of 1.64 and a debt-to-equity ratio of 0.16.

Block (NYSE:SQ) last released its quarterly earnings results on Thursday, May 2nd. The technology company reported $0.47 EPS for the quarter, topping analysts’ consensus estimates of $0.15 by $0.32. The business had revenue of $5.96 billion for the quarter, compared to analyst estimates of $5.75 billion. Block had a return on equity of 2.04% and a net margin of 2.18%. On average, equities research analysts predict that Block, Inc. will post 1.28 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on SQ. Mizuho boosted their price target on Block from $99.00 to $106.00 and gave the stock a “buy” rating in a research report on Wednesday, April 10th. Canaccord Genuity Group reiterated a “buy” rating and set a $95.00 price target on shares of Block in a research report on Friday, May 3rd. Robert W. Baird boosted their price target on Block from $98.00 to $100.00 and gave the stock an “outperform” rating in a research report on Friday, May 3rd. Susquehanna reissued a “positive” rating and issued a $100.00 price objective on shares of Block in a research note on Wednesday, June 26th. Finally, Wedbush reissued an “outperform” rating and issued a $90.00 price objective on shares of Block in a research note on Friday, May 3rd. One analyst has rated the stock with a sell rating, six have issued a hold rating and twenty-nine have issued a buy rating to the company. According to data from MarketBeat.com, Block has a consensus rating of “Moderate Buy” and a consensus price target of $87.64.

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.