Stonekeep Investments LLC Takes $255,000 Position in Block, Inc. (NYSE:SQ)

Stonekeep Investments LLC bought a new stake in shares of Block, Inc. (NYSE:SQ) during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm bought 3,801 shares of the technology company’s stock, valued at approximately $255,000.

A number of other institutional investors have also recently modified their holdings of SQ. Riverview Trust Co acquired a new stake in Block in the 1st quarter worth about $28,000. Vima LLC acquired a new stake in Block in the 4th quarter worth about $34,000. LRI Investments LLC acquired a new stake in Block in the 1st quarter worth about $34,000. Unique Wealth Strategies LLC acquired a new stake in Block in the 2nd quarter worth about $34,000. Finally, Mather Group LLC. acquired a new stake in Block in the 1st quarter worth about $35,000. 70.44% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Block news, CFO Amrita Ahuja sold 5,935 shares of the business’s stock in a transaction on Wednesday, October 2nd. The shares were sold at an average price of $65.53, for a total value of $388,920.55. Following the completion of the transaction, the chief financial officer now owns 255,496 shares in the company, valued at $16,742,652.88. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. In related news, CFO Amrita Ahuja sold 5,935 shares of the business’s stock in a transaction on Wednesday, October 2nd. The shares were sold at an average price of $65.53, for a total transaction of $388,920.55. Following the completion of the transaction, the chief financial officer now owns 255,496 shares in the company, valued at approximately $16,742,652.88. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Chrysty Esperanza sold 2,500 shares of the business’s stock in a transaction 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 transaction, the insider now owns 92,048 shares of the company’s stock, valued at approximately $6,443,360. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 27,714 shares of company stock worth $1,812,932 over the last 90 days. Corporate insiders own 10.49% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts recently issued reports on the company. New Street Research assumed coverage on Block in a report on Monday, September 9th. They issued a “neutral” rating and a $70.00 price objective on the stock. BMO Capital Markets decreased their target price on shares of Block from $93.00 to $92.00 and set an “outperform” rating on the stock in a research note on Thursday, October 3rd. Macquarie reissued an “outperform” rating and issued a $100.00 target price on shares of Block in a research note on Friday, July 26th. Keefe, Bruyette & Woods decreased their target price on shares of Block from $82.00 to $74.00 and set a “market perform” rating on the stock in a research note on Monday, July 8th. Finally, Susquehanna reissued a “positive” rating and issued a $100.00 target price on shares of Block in a research note on Wednesday, June 26th. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating, twenty-four have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $87.31.

Block Trading Down 0.5 %

Block stock traded down $0.32 during trading on Friday, hitting $69.70. The company had a trading volume of 6,098,576 shares, compared to its average volume of 5,680,133. Block, Inc. has a 1-year low of $38.85 and a 1-year high of $87.52. The company has a current ratio of 1.82, a quick ratio of 1.82 and a debt-to-equity ratio of 0.26. The company’s 50 day simple moving average is $64.91 and its 200-day simple moving average is $67.54. The stock has a market cap of $42.91 billion, a price-to-earnings ratio of 54.45, a price-to-earnings-growth ratio of 0.93 and a beta of 2.49.

Block (NYSE:SQ) last posted its quarterly earnings results on Thursday, August 1st. The technology company reported $0.93 EPS for the quarter, topping the consensus estimate of $0.84 by $0.09. The business had revenue of $6.16 billion during the quarter, compared to the consensus estimate of $6.27 billion. Block had a net margin of 3.47% and a return on equity of 3.77%. The company’s quarterly revenue was up 11.2% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.40 earnings per share. As a group, analysts expect that Block, Inc. will post 1.71 EPS for the current fiscal year.

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.