Regal Partners Ltd Acquires New Holdings in Block, Inc. (NYSE:SQ)

Regal Partners Ltd acquired a new stake in shares of Block, Inc. (NYSE:SQ) during the 3rd quarter, HoldingsChannel.com reports. The fund acquired 200,000 shares of the technology company’s stock, valued at approximately $13,426,000. Block comprises approximately 1.2% of Regal Partners Ltd’s investment portfolio, making the stock its 23rd largest holding.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. LRI Investments LLC bought a new position in shares of Block in the first quarter valued at approximately $34,000. Unique Wealth Strategies LLC bought a new position in shares of Block in the second quarter valued at approximately $34,000. V Square Quantitative Management LLC bought a new position in shares of Block in the third quarter valued at approximately $46,000. Migdal Insurance & Financial Holdings Ltd. bought a new position in shares of Block in the second quarter valued at approximately $44,000. Finally, Hobbs Group Advisors LLC bought a new position in shares of Block in the second quarter valued at approximately $49,000. Institutional investors own 70.44% of the company’s stock.

Block Stock Performance

NYSE SQ opened at $85.82 on Thursday. Block, Inc. has a 1-year low of $53.82 and a 1-year high of $90.00. The company has a 50 day moving average of $69.67 and a 200-day moving average of $67.09. The company has a current ratio of 2.07, a quick ratio of 2.07 and a debt-to-equity ratio of 0.26. The firm has a market cap of $52.84 billion, a price-to-earnings ratio of 48.21, a PEG ratio of 1.18 and a beta of 2.48.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on SQ. Morgan Stanley dropped their price target on shares of Block from $60.00 to $55.00 and set an “underweight” rating on the stock in a research report on Tuesday, July 30th. William Blair raised shares of Block to a “strong-buy” rating in a research report on Wednesday, July 31st. Benchmark reaffirmed a “buy” rating and set a $99.00 target price on shares of Block in a research report on Friday, August 2nd. Canaccord Genuity Group upped their target price on shares of Block from $95.00 to $120.00 and gave the company a “buy” rating in a research note on Tuesday. Finally, New Street Research started coverage on shares of Block in a research report on Monday, September 9th. They issued a “neutral” rating and a $70.00 price target on the stock. One research analyst has rated the stock with a sell rating, five have issued a hold rating, twenty-three have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $91.30.

Insider Buying and Selling

In other Block news, insider Chrysty Esperanza sold 2,964 shares of the business’s stock in a transaction on Monday, November 11th. The stock was sold at an average price of $80.00, for a total value of $237,120.00. Following the transaction, the insider now owns 88,607 shares of the company’s stock, valued at approximately $7,088,560. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Block news, CAO Ajmere Dale sold 1,000 shares of the business’s stock in a transaction on Monday, November 11th. The stock was sold at an average price of $80.00, for a total value of $80,000.00. Following the transaction, the chief accounting officer now owns 88,791 shares of the company’s stock, valued at approximately $7,103,280. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Chrysty Esperanza sold 2,964 shares of the business’s stock in a transaction on Monday, November 11th. The stock was sold at an average price of $80.00, for a total value of $237,120.00. Following the completion of the transaction, the insider now directly owns 88,607 shares in the company, valued at approximately $7,088,560. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 28,678 shares of company stock worth $1,924,112 in the last three months. Insiders own 10.49% of the company’s stock.

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.