Transatlantique Private Wealth LLC Buys 1,859 Shares of Block, Inc. (NYSE:SQ)

Transatlantique Private Wealth LLC lifted its position in Block, Inc. (NYSE:SQ) by 16.7% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 12,994 shares of the technology company’s stock after purchasing an additional 1,859 shares during the quarter. Transatlantique Private Wealth LLC’s holdings in Block were worth $838,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in SQ. Vanguard Group Inc. lifted its holdings in shares of Block by 0.9% in the 1st quarter. Vanguard Group Inc. now owns 36,511,250 shares of the technology company’s stock valued at $3,088,122,000 after acquiring an additional 318,549 shares during the last quarter. Capital World Investors raised its position in 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 purchasing an additional 582,826 shares during the period. Baillie Gifford & Co. lifted its stake in shares of Block by 45.7% in the 2nd quarter. Baillie Gifford & Co. now owns 10,085,229 shares of the technology company’s stock valued at $650,396,000 after purchasing an additional 3,163,975 shares during the last quarter. Lone Pine Capital LLC boosted its holdings in shares of Block by 70.0% in the 4th quarter. Lone Pine Capital LLC now owns 6,606,269 shares of the technology company’s stock worth $510,995,000 after purchasing an additional 2,720,123 shares during the period. Finally, Bares Capital Management Inc. increased its position in shares of Block by 2.0% during the 4th quarter. Bares Capital Management Inc. now owns 4,487,251 shares of the technology company’s stock valued at $347,089,000 after purchasing an additional 87,826 shares during the last quarter. 70.44% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on the company. New Street Research assumed coverage on Block in a research report on Monday, September 9th. They issued a “neutral” rating and a $70.00 price target for the company. Keefe, Bruyette & Woods decreased their price target on Block from $82.00 to $74.00 and set a “market perform” rating for the company in a research note on Monday, July 8th. The Goldman Sachs Group reaffirmed a “buy” rating and issued a $80.00 price objective on shares of Block in a research report on Monday, June 24th. Macquarie reiterated an “outperform” rating and set a $100.00 target price on shares of Block in a research report on Friday, July 26th. Finally, Deutsche Bank Aktiengesellschaft upped their price target on shares of Block from $90.00 to $98.00 and gave the stock a “buy” rating in a report on Friday, July 12th. One research analyst has rated the stock with a sell rating, six have given a hold rating, twenty-four have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, Block currently has a consensus rating of “Moderate Buy” and a consensus price target of $87.34.

Block Trading Down 1.7 %

NYSE SQ opened at $67.47 on Friday. Block, Inc. has a 52 week low of $38.85 and a 52 week high of $87.52. The company has a 50 day moving average price of $64.24 and a 200 day moving average price of $69.05. The company has a quick ratio of 1.82, a current ratio of 1.82 and a debt-to-equity ratio of 0.26. The firm has a market cap of $41.54 billion, a PE ratio of 87.62, a price-to-earnings-growth ratio of 1.15 and a beta of 2.49.

Block (NYSE:SQ) last issued its quarterly earnings results on Thursday, August 1st. The technology company reported $0.93 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.84 by $0.09. The business had revenue of $6.16 billion for the quarter, compared to the consensus estimate of $6.27 billion. Block had a return on equity of 3.77% and a net margin of 3.47%. The business’s quarterly revenue was up 11.2% on a year-over-year basis. During the same period in the prior year, the firm posted $0.40 earnings per share. As a group, sell-side analysts forecast that Block, Inc. will post 1.72 EPS for the current fiscal year.

Insider Activity

In related news, insider Brian Grassadonia sold 1,889 shares of the company’s stock in a transaction on Tuesday, July 2nd. The stock was sold at an average price of $64.37, for a total value of $121,594.93. Following the transaction, the insider now directly owns 590,761 shares of the company’s stock, valued at approximately $38,027,285.57. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other news, insider Brian Grassadonia sold 1,889 shares of the company’s stock in a transaction on Tuesday, July 2nd. The shares were sold at an average price of $64.37, for a total value of $121,594.93. Following the sale, the insider now directly owns 590,761 shares of the company’s stock, valued at approximately $38,027,285.57. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CAO Ajmere Dale sold 471 shares of the stock in a transaction on Tuesday, July 2nd. The stock was sold at an average price of $64.37, for a total transaction of $30,318.27. Following the completion of the sale, the chief accounting officer now owns 92,866 shares in the company, valued at approximately $5,977,784.42. The disclosure for this sale can be found here. Insiders have sold a total of 28,179 shares of company stock worth $1,833,962 over the last 90 days. 10.49% of the stock is currently owned by corporate insiders.

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.