Block, Inc. (NYSE:SQ) Shares Acquired by Vinva Investment Management Ltd

Vinva Investment Management Ltd lifted its position in shares of Block, Inc. (NYSE:SQ) by 4.8% in the third quarter, according to its most recent 13F filing with the SEC. The firm owned 21,947 shares of the technology company’s stock after purchasing an additional 1,012 shares during the quarter. Vinva Investment Management Ltd’s holdings in Block were worth $1,470,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Financial Counselors Inc. acquired a new stake in Block in the 3rd quarter valued at $206,000. Ribbit Management Company LLC grew its stake in shares of Block by 9.6% in the third quarter. Ribbit Management Company LLC now owns 1,001,500 shares of the technology company’s stock valued at $67,231,000 after buying an additional 88,000 shares in the last quarter. Caz Investments LP grew its stake in shares of Block by 100.0% in the third quarter. Caz Investments LP now owns 3,000 shares of the technology company’s stock valued at $198,000 after buying an additional 1,500 shares in the last quarter. Bridgewater Associates LP lifted its position in Block by 2,156.0% during the 3rd quarter. Bridgewater Associates LP now owns 395,697 shares of the technology company’s stock worth $26,563,000 after acquiring an additional 378,157 shares in the last quarter. Finally, Townsquare Capital LLC lifted its position in Block by 192.5% during the 3rd quarter. Townsquare Capital LLC now owns 58,873 shares of the technology company’s stock worth $3,952,000 after acquiring an additional 38,748 shares in the last quarter. Institutional investors and hedge funds own 70.44% of the company’s stock.

Insider Transactions at Block

In related news, insider Brian Grassadonia sold 8,328 shares of the stock in a transaction that occurred on Thursday, November 21st. The shares were sold at an average price of $91.18, for a total transaction of $759,347.04. Following the completion of the sale, the insider now directly owns 563,894 shares of the company’s stock, valued at $51,415,854.92. This represents a 1.46 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Amrita Ahuja sold 6,661 shares of the firm’s stock in a transaction that occurred on Thursday, November 21st. The stock was sold at an average price of $91.43, for a total transaction of $609,015.23. Following the sale, the chief financial officer now owns 246,967 shares of the company’s stock, valued at $22,580,192.81. The trade was a 2.63 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 29,053 shares of company stock valued at $2,393,972. Corporate insiders own 10.49% of the company’s stock.

Analyst Ratings Changes

SQ has been the topic of a number of analyst reports. Keefe, Bruyette & Woods lifted their price objective on shares of Block from $71.00 to $80.00 and gave the company a “market perform” rating in a research note on Friday, November 8th. Oppenheimer began coverage on shares of Block in a research note on Tuesday, October 1st. They set a “market perform” rating on the stock. BNP Paribas cut shares of Block from an “outperform” rating to a “neutral” rating and set a $88.00 price objective for the company. in a research report on Wednesday, November 20th. Benchmark reaffirmed a “buy” rating and set a $99.00 target price on shares of Block in a research report on Friday, August 2nd. Finally, Royal Bank of Canada reissued an “outperform” rating and issued a $88.00 price target on shares of Block in a report on Monday, October 21st. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and twenty-three have issued a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $91.46.

Block Stock Performance

SQ opened at $88.51 on Friday. The business has a 50 day moving average price of $76.03 and a two-hundred day moving average price of $68.74. The company has a debt-to-equity ratio of 0.26, a current ratio of 2.07 and a quick ratio of 2.07. The company has a market capitalization of $54.86 billion, a price-to-earnings ratio of 49.72, a price-to-earnings-growth ratio of 1.20 and a beta of 2.48. Block, Inc. has a 1-year low of $55.00 and a 1-year high of $94.12.

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.