Woodson Capital Management LP Buys New Position in Block, Inc. (NYSE:SQ)

Woodson Capital Management LP purchased a new position in Block, Inc. (NYSE:SQ) in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 406,007 shares of the technology company’s stock, valued at approximately $27,255,000. Block accounts for 5.3% of Woodson Capital Management LP’s investment portfolio, making the stock its 5th biggest position. Woodson Capital Management LP owned approximately 0.07% of Block as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also modified their holdings of the company. SouthState Corp lifted its holdings in shares of Block by 85.3% in the third quarter. SouthState Corp now owns 391 shares of the technology company’s stock worth $26,000 after buying an additional 180 shares in the last quarter. LRI Investments LLC purchased a new position in shares of Block in the first quarter worth $34,000. Unique Wealth Strategies LLC purchased a new position in shares of Block in the second quarter worth $34,000. V Square Quantitative Management LLC purchased a new position in shares of Block in the third quarter worth $46,000. Finally, Migdal Insurance & Financial Holdings Ltd. purchased a new stake in Block during the second quarter valued at $44,000. 70.44% of the stock is currently owned by institutional investors.

Block Stock Down 0.3 %

SQ stock opened at $88.78 on Friday. The firm has a 50 day moving average of $75.61 and a 200 day moving average of $68.61. The stock has a market capitalization of $55.03 billion, a PE ratio of 49.88, a price-to-earnings-growth ratio of 1.20 and a beta of 2.48. The company has a quick ratio of 2.07, a current ratio of 2.07 and a debt-to-equity ratio of 0.26. Block, Inc. has a 52 week low of $55.00 and a 52 week high of $94.12.

Analyst Ratings Changes

SQ has been the topic of a number of recent research reports. Wells Fargo & Company decreased their price target on shares of Block from $95.00 to $85.00 and set an “overweight” rating on the stock in a research note on Friday, August 2nd. Needham & Company LLC raised their target price on shares of Block from $80.00 to $90.00 and gave the stock a “buy” rating in a report on Friday, November 8th. Oppenheimer started coverage on shares of Block in a report on Tuesday, October 1st. They issued a “market perform” rating for the company. BNP Paribas lowered shares of Block from an “outperform” rating to a “neutral” rating and set a $88.00 target price for the company. in a report on Wednesday, November 20th. Finally, Keefe, Bruyette & Woods raised their target price on shares of Block from $71.00 to $80.00 and gave the stock a “market perform” rating in a report on Friday, November 8th. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and twenty-three have given a buy rating to the company’s stock. According to data from MarketBeat.com, Block presently has a consensus rating of “Moderate Buy” and a consensus price target of $91.46.

Insider Buying and Selling

In other Block news, CFO Amrita Ahuja sold 6,661 shares of Block stock in a transaction that occurred on Thursday, November 21st. The shares were sold at an average price of $91.43, for a total transaction of $609,015.23. Following the completion of the sale, the chief financial officer now directly owns 246,967 shares in the company, valued at approximately $22,580,192.81. The trade was a 2.63 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CAO Ajmere Dale sold 1,781 shares of Block stock in a transaction that occurred on Thursday, November 21st. The shares were sold at an average price of $91.43, for a total transaction of $162,836.83. Following the sale, the chief accounting officer now owns 86,010 shares of the company’s stock, valued at approximately $7,863,894.30. The trade was a 2.03 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 29,053 shares of company stock worth $2,393,972 in the last three months. Corporate insiders own 10.49% of the company’s stock.

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.