KRS Capital Management LLC Has $751,000 Position in Block, Inc. (NYSE:SQ)

KRS Capital Management LLC raised its holdings in shares of Block, Inc. (NYSE:SQFree Report) by 11.5% in the 4th quarter, HoldingsChannel.com reports. The fund owned 8,832 shares of the technology company’s stock after purchasing an additional 912 shares during the quarter. KRS Capital Management LLC’s holdings in Block were worth $751,000 at the end of the most recent quarter.

A number of other large investors also recently made changes to their positions in SQ. Southpoint Capital Advisors LP acquired a new position in Block in the third quarter valued at about $114,121,000. Massachusetts Financial Services Co. MA increased its stake in shares of Block by 770.0% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 1,738,708 shares of the technology company’s stock valued at $116,719,000 after acquiring an additional 1,538,849 shares during the last quarter. Lone Pine Capital LLC raised its position in shares of Block by 13.9% in the 2nd quarter. Lone Pine Capital LLC now owns 7,670,523 shares of the technology company’s stock valued at $494,672,000 after acquiring an additional 934,588 shares during the period. D1 Capital Partners L.P. boosted its stake in Block by 76.7% during the 2nd quarter. D1 Capital Partners L.P. now owns 1,831,342 shares of the technology company’s stock worth $118,103,000 after acquiring an additional 795,000 shares during the last quarter. Finally, Canada Pension Plan Investment Board boosted its stake in Block by 1,061.0% during the 2nd quarter. Canada Pension Plan Investment Board now owns 657,667 shares of the technology company’s stock worth $42,413,000 after acquiring an additional 601,020 shares during the last quarter. Institutional investors and hedge funds own 70.44% of the company’s stock.

Analyst Ratings Changes

SQ has been the topic of several analyst reports. BNP Paribas lowered shares of Block from an “outperform” rating to a “neutral” rating and set a $88.00 target price on the stock. in a report on Wednesday, November 20th. Morgan Stanley lifted their target price on Block from $60.00 to $65.00 and gave the stock an “underweight” rating in a report on Wednesday, December 18th. Oppenheimer raised Block from a “market perform” rating to an “outperform” rating and set a $115.00 price target on the stock in a research report on Thursday, December 19th. Barclays increased their target price on Block from $100.00 to $112.00 and gave the stock an “overweight” rating in a research note on Tuesday, December 17th. Finally, Wells Fargo & Company lifted their price target on shares of Block from $85.00 to $95.00 and gave the company an “overweight” rating in a research note on Thursday. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and twenty-seven have assigned a buy rating to the stock. According to MarketBeat, Block currently has an average rating of “Moderate Buy” and an average target price of $97.68.

Read Our Latest Research Report on SQ

Block Stock Performance

Shares of SQ stock traded up $0.62 during midday trading on Friday, hitting $87.00. 5,788,892 shares of the company were exchanged, compared to its average volume of 5,438,821. The firm has a market capitalization of $53.92 billion, a P/E ratio of 48.88, a PEG ratio of 0.75 and a beta of 2.51. The company has a debt-to-equity ratio of 0.26, a quick ratio of 2.07 and a current ratio of 2.07. Block, Inc. has a 52 week low of $55.00 and a 52 week high of $99.26. The firm’s 50 day moving average price is $89.61 and its two-hundred day moving average price is $74.68.

Insider Transactions at Block

In related news, CAO Ajmere Dale sold 1,000 shares of the firm’s stock in a transaction dated Monday, November 11th. The shares were sold at an average price of $80.00, for a total transaction of $80,000.00. Following the transaction, the chief accounting officer now directly owns 88,791 shares of the company’s stock, valued at approximately $7,103,280. This trade represents a 1.11 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Brian Grassadonia sold 8,328 shares of the business’s stock in a transaction dated 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 position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 29,981 shares of company stock worth $2,681,185. Company insiders own 10.49% of the company’s stock.

Block Profile

(Free Report)

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.

Further Reading

Want to see what other hedge funds are holding SQ? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Block, Inc. (NYSE:SQFree Report).

Institutional Ownership by Quarter for Block (NYSE:SQ)

Receive News & Ratings for Block Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Block and related companies with MarketBeat.com's FREE daily email newsletter.