Vinva Investment Management Ltd Raises Stake in Block, Inc. (NYSE:SQ)

Vinva Investment Management Ltd raised its holdings in Block, Inc. (NYSE:SQ) by 4.8% during the third quarter, according to the company in its most recent Form 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 made changes to their positions in the company. SouthState Corp lifted its holdings in shares of Block by 85.3% during the third quarter. SouthState Corp now owns 391 shares of the technology company’s stock worth $26,000 after purchasing an additional 180 shares during the period. LRI Investments LLC acquired a new stake in shares of Block in the 1st quarter worth $34,000. Unique Wealth Strategies LLC purchased a new stake in shares of Block in the second quarter valued at about $34,000. V Square Quantitative Management LLC acquired a new position in shares of Block during the third quarter worth about $46,000. Finally, Migdal Insurance & Financial Holdings Ltd. acquired a new position in shares of Block during the second quarter worth about $44,000. 70.44% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Block

In other Block news, CAO Ajmere Dale sold 500 shares of Block stock in a transaction dated Tuesday, October 1st. The stock was 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. The trade was a 0.55 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CFO Amrita Ahuja sold 5,935 shares of the stock in a transaction dated Wednesday, October 2nd. The stock was sold at an average price of $65.53, for a total transaction of $388,920.55. Following 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 2.27 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 29,053 shares of company stock worth $2,393,972. Insiders own 10.49% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on the company. William Blair reaffirmed an “outperform” rating on shares of Block in a report on Friday, November 15th. 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. New Street Research assumed coverage on Block in a report on Monday, September 9th. They set a “neutral” rating and a $70.00 price objective on the stock. Wells Fargo & Company reduced their target price on Block from $95.00 to $85.00 and set an “overweight” rating for the company in a report on Friday, August 2nd. Finally, Canaccord Genuity Group boosted their target price on shares of Block from $95.00 to $120.00 and gave the stock a “buy” rating in a research report on Tuesday, November 12th. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and twenty-three have issued a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $91.46.

Block Stock Performance

NYSE:SQ opened at $88.51 on Friday. Block, Inc. has a 1-year low of $55.00 and a 1-year high of $94.12. The firm has a 50 day simple moving average of $76.03 and a 200-day simple moving average of $68.74. The firm has a market cap of $54.86 billion, a PE ratio of 49.72, a P/E/G ratio of 1.20 and a beta of 2.48. The company has a debt-to-equity ratio of 0.26, a current ratio of 2.07 and a quick ratio of 2.07.

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.