TB Alternative Assets Ltd. Buys New Shares in Block, Inc. (NYSE:SQ)

TB Alternative Assets Ltd. purchased a new stake in Block, Inc. (NYSE:SQ - Free Report) during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund purchased 41,529 shares of the technology company's stock, valued at approximately $3,530,000. Block makes up about 0.9% of TB Alternative Assets Ltd.'s holdings, making the stock its 24th biggest position.

Other hedge funds have also recently bought and sold shares of the company. Perpetual Ltd bought a new position in shares of Block in the fourth quarter valued at approximately $10,779,000. Legal Advantage Investments Inc. increased its holdings in Block by 13.2% during the 4th quarter. Legal Advantage Investments Inc. now owns 23,160 shares of the technology company's stock valued at $1,968,000 after purchasing an additional 2,700 shares in the last quarter. Ballentine Partners LLC raised its position in Block by 18.1% in the 4th quarter. Ballentine Partners LLC now owns 7,592 shares of the technology company's stock valued at $645,000 after purchasing an additional 1,162 shares during the last quarter. Ulland Investment Advisors LLC boosted its stake in Block by 92.3% in the fourth quarter. Ulland Investment Advisors LLC now owns 2,135 shares of the technology company's stock worth $181,000 after purchasing an additional 1,025 shares in the last quarter. Finally, Harbor Investment Advisory LLC grew its holdings in shares of Block by 31.2% during the fourth quarter. Harbor Investment Advisory LLC now owns 4,735 shares of the technology company's stock worth $402,000 after purchasing an additional 1,125 shares during the last quarter. 70.44% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research analysts recently issued reports on the company. Keefe, Bruyette & Woods cut their price target on Block from $105.00 to $100.00 and set a "market perform" rating for the company in a report on Monday, January 6th. BNP Paribas downgraded shares of Block from an "outperform" rating to a "neutral" rating and set a $88.00 target price for the company. in a research note on Wednesday, November 20th. Sanford C. Bernstein increased their price target on shares of Block from $90.00 to $120.00 and gave the company an "outperform" rating in a research note on Monday, December 2nd. Oppenheimer upgraded shares of Block from a "market perform" rating to an "outperform" rating and set a $115.00 price objective for the company in a research report on Thursday, December 19th. Finally, William Blair reaffirmed an "outperform" rating on shares of Block in a report on Friday, November 15th. One analyst has rated the stock with a sell rating, five have given a hold rating and twenty-seven have issued a buy rating to the company's stock. According to MarketBeat.com, Block has a consensus rating of "Moderate Buy" and an average target price of $97.68.

Block Stock Up 0.8 %

Shares of Block stock traded up $0.70 on Tuesday, hitting $87.08. The company had a trading volume of 5,788,892 shares, compared to its average volume of 4,896,312. Block, Inc. has a twelve month low of $55.00 and a twelve month high of $99.26. The company has a debt-to-equity ratio of 0.26, a current ratio of 2.07 and a quick ratio of 2.07. The stock has a 50-day moving average of $89.68 and a 200-day moving average of $74.98. The firm has a market capitalization of $53.97 billion, a P/E ratio of 48.92, a P/E/G ratio of 0.79 and a beta of 2.51.

Insider Buying and Selling

In related news, insider Brian Grassadonia sold 8,328 shares of the firm's stock in a transaction on Thursday, November 21st. The shares were sold at an average price of $91.18, for a total value of $759,347.04. Following the completion of the transaction, the insider now owns 563,894 shares of the company's stock, valued at approximately $51,415,854.92. This trade represents a 1.46 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CAO Ajmere Dale sold 1,000 shares of Block stock in a transaction on Monday, November 11th. The shares were sold at an average price of $80.00, for a total transaction of $80,000.00. Following the completion of the sale, the chief accounting officer now owns 88,791 shares in the company, valued at $7,103,280. The trade was a 1.11 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 29,981 shares of company stock valued at $2,681,185. Company 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.