KG&L Capital Management LLC Makes New Investment in Block, Inc. (NYSE:SQ)

KG&L Capital Management LLC purchased a new position in shares of Block, Inc. (NYSE:SQ) in the third quarter, Holdings Channel reports. The fund purchased 5,091 shares of the technology company’s stock, valued at approximately $342,000.

A number of other institutional investors also recently added to or reduced their stakes in the business. LRI Investments LLC bought a new stake in shares of Block in the 1st quarter worth $34,000. Unique Wealth Strategies LLC bought a new stake in shares of Block in the 2nd quarter worth $34,000. V Square Quantitative Management LLC bought a new stake in shares of Block in the 3rd quarter worth $46,000. Migdal Insurance & Financial Holdings Ltd. bought a new stake in shares of Block in the 2nd quarter worth $44,000. Finally, Hobbs Group Advisors LLC bought a new stake in shares of Block in the 2nd quarter worth $49,000. Institutional investors and hedge funds own 70.44% of the company’s stock.

Insider Transactions at Block

In other news, insider Brian Grassadonia sold 8,328 shares of the company’s stock in a transaction dated Wednesday, August 21st. The stock was sold at an average price of $64.77, for a total transaction of $539,404.56. Following the completion of the sale, the insider now owns 580,086 shares in the company, valued at approximately $37,572,170.22. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In related news, CAO Ajmere Dale sold 1,406 shares of the business’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 completion of the transaction, the chief accounting officer now owns 90,960 shares of the company’s stock, valued at approximately $5,885,112. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Brian Grassadonia sold 8,328 shares of the business’s stock in a transaction dated Wednesday, August 21st. The stock was sold at an average price of $64.77, for a total value of $539,404.56. Following the transaction, the insider now directly owns 580,086 shares of the company’s stock, valued at $37,572,170.22. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 25,214 shares of company stock worth $1,637,932. 10.49% of the stock is owned by corporate insiders.

Block Stock Performance

SQ opened at $72.69 on Tuesday. The company has a market cap of $44.75 billion, a PE ratio of 56.79, a price-to-earnings-growth ratio of 0.99 and a beta of 2.48. The stock has a 50-day moving average of $68.15 and a 200-day moving average of $66.86. Block, Inc. has a 52-week low of $48.15 and a 52-week high of $87.52. The company has a debt-to-equity ratio of 0.26, a quick ratio of 1.82 and a current ratio of 1.82.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on SQ shares. Keefe, Bruyette & Woods cut their target price on Block from $82.00 to $74.00 and set a “market perform” rating on the stock in a research report on Monday, July 8th. New Street Research started coverage on Block in a research report on Monday, September 9th. They set a “neutral” rating and a $70.00 target price on the stock. Needham & Company LLC cut their target price on Block from $105.00 to $80.00 and set a “buy” rating on the stock in a research report on Monday, August 5th. Royal Bank of Canada reissued an “outperform” rating and set a $88.00 price target on shares of Block in a research report on Monday, October 21st. Finally, Macquarie reissued an “outperform” rating and set a $100.00 price target on shares of Block in a research report on Friday, July 26th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating, twenty-four have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $88.79.

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.