GSA Capital Partners LLP Trims Stock Holdings in Block, Inc. (NYSE:SQ)

GSA Capital Partners LLP lowered its stake in Block, Inc. (NYSE:SQ) by 54.0% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 22,543 shares of the technology company’s stock after selling 26,445 shares during the quarter. GSA Capital Partners LLP’s holdings in Block were worth $1,513,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of SQ. Apollon Wealth Management LLC boosted its position in shares of Block by 9.0% during the third quarter. Apollon Wealth Management LLC now owns 9,392 shares of the technology company’s stock worth $630,000 after buying an additional 773 shares during the period. Nations Financial Group Inc. IA ADV boosted its holdings in Block by 1.9% during the 3rd quarter. Nations Financial Group Inc. IA ADV now owns 7,744 shares of the technology company’s stock valued at $520,000 after acquiring an additional 145 shares during the period. Ashton Thomas Securities LLC grew its position in Block by 10.7% in the 3rd quarter. Ashton Thomas Securities LLC now owns 4,608 shares of the technology company’s stock valued at $309,000 after acquiring an additional 445 shares in the last quarter. Los Angeles Capital Management LLC increased its stake in Block by 1.7% during the third quarter. Los Angeles Capital Management LLC now owns 276,836 shares of the technology company’s stock worth $18,584,000 after purchasing an additional 4,525 shares during the period. Finally, River Global Investors LLP lifted its position in shares of Block by 4.0% during the third quarter. River Global Investors LLP now owns 27,057 shares of the technology company’s stock worth $1,816,000 after purchasing an additional 1,030 shares in the last quarter. Hedge funds and other institutional investors own 70.44% of the company’s stock.

Block Price Performance

Shares of SQ opened at $87.20 on Wednesday. The company has a market capitalization of $53.68 billion, a price-to-earnings ratio of 48.99, a price-to-earnings-growth ratio of 1.11 and a beta of 2.48. Block, Inc. has a fifty-two week low of $50.86 and a fifty-two week high of $87.52. The firm has a 50-day simple moving average of $69.21 and a 200-day simple moving average of $67.00. The company has a debt-to-equity ratio of 0.26, a quick ratio of 2.07 and a current ratio of 2.07.

Insider Activity

In related news, CAO Ajmere Dale sold 500 shares of the stock in a transaction on Tuesday, October 1st. The stock was sold at an average price of $67.00, for a total transaction of $33,500.00. Following the completion of the sale, the chief accounting officer now directly owns 90,460 shares of the company’s stock, valued at $6,060,820. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In related news, CAO Ajmere Dale sold 500 shares of the firm’s stock in a transaction dated Tuesday, October 1st. The shares were 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 in the company, valued at $6,060,820. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Brian Grassadonia sold 8,328 shares of the stock in a transaction that occurred on 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 approximately $37,572,170.22. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 24,714 shares of company stock valued at $1,606,992. Company insiders own 10.49% of the company’s stock.

Analyst Ratings Changes

SQ has been the subject of a number of research reports. Piper Sandler restated an “overweight” rating and issued a $83.00 price objective on shares of Block in a report on Monday. New Street Research initiated coverage on Block in a research report on Monday, September 9th. They set a “neutral” rating and a $70.00 price objective on the stock. Canaccord Genuity Group lifted their target price on Block from $95.00 to $120.00 and gave the company a “buy” rating in a report on Tuesday. William Blair upgraded Block to a “strong-buy” rating in a report on Wednesday, July 31st. Finally, BMO Capital Markets decreased their price objective on Block from $93.00 to $92.00 and set an “outperform” rating for the company in a research note on Thursday, October 3rd. One investment analyst has rated the stock with a sell rating, five have given a hold rating, twenty-three have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $91.30.

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.