Global Trust Asset Management LLC Purchases 848 Shares of Block, Inc. (NYSE:SQ)

Global Trust Asset Management LLC boosted its position in Block, Inc. (NYSE:SQ) by 32.4% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 3,463 shares of the technology company’s stock after acquiring an additional 848 shares during the quarter. Global Trust Asset Management LLC’s holdings in Block were worth $232,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also added to or reduced their stakes in the company. Lone Pine Capital LLC grew its stake in shares of Block by 13.9% during the second quarter. Lone Pine Capital LLC now owns 7,670,523 shares of the technology company’s stock valued at $494,672,000 after buying an additional 934,588 shares during the last quarter. Vontobel Holding Ltd. grew its stake in shares of Block by 165.2% during the third quarter. Vontobel Holding Ltd. now owns 453,545 shares of the technology company’s stock valued at $30,446,000 after buying an additional 282,550 shares during the last quarter. Duality Advisers LP grew its stake in shares of Block by 2.7% during the first quarter. Duality Advisers LP now owns 34,899 shares of the technology company’s stock valued at $2,952,000 after buying an additional 927 shares during the last quarter. Cetera Investment Advisers grew its stake in shares of Block by 194.8% during the first quarter. Cetera Investment Advisers now owns 104,642 shares of the technology company’s stock valued at $8,851,000 after buying an additional 69,146 shares during the last quarter. Finally, New Century Financial Group LLC bought a new position in shares of Block during the first quarter valued at about $1,121,000. Institutional investors own 70.44% of the company’s stock.

Insiders Place Their Bets

In other Block news, CFO Amrita Ahuja sold 5,935 shares of Block stock in a transaction that occurred on Wednesday, October 2nd. The shares were sold at an average price of $65.53, for a total value of $388,920.55. Following the completion of the sale, the chief financial officer now owns 255,496 shares of the company’s stock, valued at approximately $16,742,652.88. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other Block news, CAO Ajmere Dale sold 500 shares of Block stock in a transaction that occurred on Tuesday, October 1st. The shares were 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 of the company’s stock, valued at approximately $6,060,820. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CFO Amrita Ahuja sold 5,935 shares of Block stock in a transaction that occurred on Wednesday, October 2nd. The stock was sold at an average price of $65.53, for a total transaction of $388,920.55. Following the completion of the sale, the chief financial officer now directly owns 255,496 shares of the company’s stock, valued at approximately $16,742,652.88. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 25,214 shares of company stock valued at $1,637,932. Company insiders own 10.49% of the company’s stock.

Block Price Performance

Shares of SQ opened at $72.52 on Friday. The company has a market capitalization of $44.75 billion, a P/E ratio of 94.18, a price-to-earnings-growth ratio of 0.99 and a beta of 2.49. The company has a quick ratio of 1.82, a current ratio of 1.82 and a debt-to-equity ratio of 0.26. The firm has a 50 day moving average of $66.92 and a 200 day moving average of $67.11. Block, Inc. has a twelve month low of $38.85 and a twelve month high of $87.52.

Block (NYSE:SQ) last announced its quarterly earnings results on Thursday, August 1st. The technology company reported $0.93 earnings per share for the quarter, beating the consensus estimate of $0.84 by $0.09. The company had revenue of $6.16 billion during the quarter, compared to the consensus estimate of $6.27 billion. Block had a net margin of 3.47% and a return on equity of 3.77%. The firm’s quarterly revenue was up 11.2% compared to the same quarter last year. During the same quarter last year, the firm earned $0.40 earnings per share. As a group, equities research analysts anticipate that Block, Inc. will post 1.71 earnings per share for the current fiscal year.

Analysts Set New Price Targets

SQ has been the topic of several recent analyst reports. Macquarie reissued an “outperform” rating and issued a $100.00 target price on shares of Block in a research note on Friday, July 26th. Royal Bank of Canada reissued an “outperform” rating and issued a $88.00 target price on shares of Block in a research note on Monday. William Blair raised Block to a “strong-buy” rating in a research note on Wednesday, July 31st. Oppenheimer initiated coverage on Block in a research note on Tuesday, October 1st. They issued a “market perform” rating on the stock. Finally, Wells Fargo & Company cut their target price on Block from $95.00 to $85.00 and set an “overweight” rating on the stock in a research note on Friday, August 2nd. One analyst has rated the stock with a sell rating, six have given a hold rating, twenty-four have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $88.79.

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.