Mn Services Vermogensbeheer B.V. Has $14.03 Million Position in Block, Inc. (NYSE:SQ)

Mn Services Vermogensbeheer B.V. cut its stake in shares of Block, Inc. (NYSE:SQ) by 2.8% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 217,500 shares of the technology company’s stock after selling 6,300 shares during the quarter. Mn Services Vermogensbeheer B.V.’s holdings in Block were worth $14,027,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of SQ. LRI Investments LLC increased its holdings in shares of Block by 85.3% during the second quarter. LRI Investments LLC now owns 741 shares of the technology company’s stock valued at $48,000 after acquiring an additional 341 shares in the last quarter. Everhart Financial Group Inc. raised its holdings in Block by 15.3% during the second quarter. Everhart Financial Group Inc. now owns 3,241 shares of the technology company’s stock worth $209,000 after buying an additional 429 shares during the last quarter. Secure Asset Management LLC lifted its stake in shares of Block by 254.8% in the second quarter. Secure Asset Management LLC now owns 12,448 shares of the technology company’s stock valued at $803,000 after buying an additional 8,940 shares in the last quarter. Unique Wealth Strategies LLC acquired a new position in shares of Block during the second quarter valued at about $34,000. Finally, Griffin Asset Management Inc. increased its position in shares of Block by 276.3% during the second quarter. Griffin Asset Management Inc. now owns 19,530 shares of the technology company’s stock worth $1,259,000 after acquiring an additional 14,340 shares in the last quarter. 70.44% of the stock is owned by institutional investors.

Block Price Performance

NYSE SQ traded up $1.52 on Friday, reaching $65.36. 5,618,465 shares of the company’s stock traded hands, compared to its average volume of 8,718,805. The stock has a market cap of $40.33 billion, a PE ratio of 84.88, a P/E/G ratio of 1.15 and a beta of 2.52. Block, Inc. has a 12 month low of $38.85 and a 12 month high of $87.52. The stock has a 50-day simple moving average of $63.92 and a 200 day simple moving average of $69.88. The company has a debt-to-equity ratio of 0.26, a current ratio of 1.82 and a quick ratio of 1.82.

Block (NYSE:SQ) last issued its earnings results on Thursday, August 1st. The technology company reported $0.93 EPS for the quarter, topping analysts’ consensus estimates of $0.84 by $0.09. Block had a net margin of 3.47% and a return on equity of 3.77%. The company had revenue of $6.16 billion for the quarter, compared to analysts’ expectations of $6.27 billion. During the same quarter last year, the company earned $0.40 EPS. The firm’s revenue was up 11.2% compared to the same quarter last year. As a group, research analysts predict that Block, Inc. will post 1.72 earnings per share for the current year.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on SQ shares. Wells Fargo & Company dropped their price target on shares of Block from $95.00 to $85.00 and set an “overweight” rating on the stock in a research report on Friday, August 2nd. Deutsche Bank Aktiengesellschaft lifted their target price on Block from $90.00 to $98.00 and gave the company a “buy” rating in a research report on Friday, July 12th. Macquarie reissued an “outperform” rating and issued a $100.00 price target on shares of Block in a research report on Friday, July 26th. Royal Bank of Canada reaffirmed an “outperform” rating and set a $88.00 price objective on shares of Block in a report on Friday, August 2nd. Finally, Keefe, Bruyette & Woods lowered their target price on shares of Block from $82.00 to $74.00 and set a “market perform” rating for the company in a report on Monday, July 8th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating, twenty-four have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $86.59.

Insider Activity

In related news, CFO Amrita Ahuja sold 6,661 shares of the firm’s stock in a transaction that occurred on Wednesday, August 21st. The stock was sold at an average price of $64.70, for a total transaction of $430,966.70. Following the transaction, the chief financial officer now directly owns 264,697 shares in the company, valued at approximately $17,125,895.90. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. In other Block news, Director Roelof Botha purchased 434,405 shares of Block stock in a transaction that occurred on Tuesday, August 6th. The shares were bought at an average price of $57.55 per share, for a total transaction of $25,000,007.75. Following the acquisition, the director now directly owns 434,405 shares in the company, valued at $25,000,007.75. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, CFO Amrita Ahuja sold 6,661 shares of the company’s stock in a transaction that occurred on Wednesday, August 21st. The shares were sold at an average price of $64.70, for a total value of $430,966.70. Following the transaction, the chief financial officer now directly owns 264,697 shares of the company’s stock, valued at approximately $17,125,895.90. The disclosure for this sale can be found here. In the last quarter, insiders sold 28,179 shares of company stock valued at $1,833,962. Insiders own 10.49% of the company’s stock.

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.