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

KRS Capital Management LLC lifted its holdings in Block, Inc. (NYSE:SQ) by 11.5% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 8,832 shares of the technology company’s stock after buying an additional 912 shares during the period. KRS Capital Management LLC’s holdings in Block were worth $751,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also modified their holdings of the business. Baillie Gifford & Co. boosted its stake in shares of Block by 1.5% during the 3rd quarter. Baillie Gifford & Co. now owns 10,233,102 shares of the technology company’s stock valued at $686,948,000 after buying an additional 147,873 shares during the period. Geode Capital Management LLC grew its stake in Block by 1.6% in the third quarter. Geode Capital Management LLC now owns 8,690,075 shares of the technology company’s stock valued at $581,923,000 after purchasing an additional 133,002 shares in the last quarter. Lone Pine Capital LLC increased its position in Block by 13.9% in the 2nd quarter. Lone Pine Capital LLC now owns 7,670,523 shares of the technology company’s stock worth $494,672,000 after purchasing an additional 934,588 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its holdings in shares of Block by 2.1% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 2,202,388 shares of the technology company’s stock valued at $147,846,000 after buying an additional 45,472 shares during the last quarter. Finally, Dimensional Fund Advisors LP grew its stake in shares of Block by 17.8% in the 2nd quarter. Dimensional Fund Advisors LP now owns 2,157,733 shares of the technology company’s stock valued at $139,143,000 after buying an additional 326,444 shares in the last quarter. Hedge funds and other institutional investors own 70.44% of the company’s stock.

Analyst Ratings Changes

A number of research firms have issued reports on SQ. Monness Crespi & Hardt upgraded shares of Block from a “neutral” rating to a “buy” rating and set a $115.00 target price for the company in a research note on Friday, December 13th. Needham & Company LLC upped their price objective on shares of Block from $80.00 to $90.00 and gave the stock a “buy” rating in a report on Friday, November 8th. William Blair restated an “outperform” rating on shares of Block in a report on Friday, November 15th. Oppenheimer upgraded Block from a “market perform” rating to an “outperform” rating and set a $115.00 price target for the company in a research note on Thursday, December 19th. Finally, Wells Fargo & Company raised their price objective on 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 issued a buy rating to the company. Based on data from MarketBeat, Block currently has an average rating of “Moderate Buy” and an average price target of $97.68.

Insider Transactions at Block

In related news, insider Chrysty Esperanza sold 2,964 shares of the business’s stock in a transaction that occurred on Monday, November 11th. The shares were 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 owns 88,607 shares in the company, valued at $7,088,560. The trade was a 3.24 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CAO Ajmere Dale sold 1,000 shares of the company’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 directly owns 88,791 shares in the company, valued at approximately $7,103,280. This represents a 1.11 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 29,981 shares of company stock valued at $2,681,185 in the last three months. 10.49% of the stock is owned by corporate insiders.

Block Price Performance

Shares of NYSE:SQ traded up $0.62 on Friday, hitting $87.00. The stock had a trading volume of 5,788,892 shares, compared to its average volume of 5,438,821. The firm’s 50 day moving average price is $89.61 and its 200-day moving average price is $74.68. 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 twelve month low of $55.00 and a twelve month high of $99.26. The company has a market capitalization of $53.92 billion, a price-to-earnings ratio of 48.88, a price-to-earnings-growth ratio of 0.75 and a beta of 2.51.

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.