$Block(SQ)$ Insider Trading Alert| Nice Insider Buy By BOD
$Block(SQ)$ Board of Directors member Roelof Botha just purchased 540,646 shares for a total value of $27.5 million.
Block is a financial services and mobile payment company that provides innovative solutions.
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As per the SEC filing, The purchase is between November 8 and November 13 at an average price of $50.89 per share. After the latest purchase, the total value of his holdings in SQ now stands at about $65.2 million.
It is an extremely bullish sign. $Block(SQ)$ rose 5.92% to close at $55.1 in Wednesday trading, the YTD 2023 of $Block(SQ)$ is -12.32%
Recent Updates
$Block(SQ)$ Q3 Top Buyers
1. Viking Global • +12.3M shares • NEW position • 0% --> 2.2% (portfolio weight)
2. Dragoneer Investment Group • +4.3M shares • 6.4% --> 9.1%
3. Lone Pine Capital • +3.9M shares • NEW position • 0% --> 1.7%
4. Voya Investment Management • +3.3M shares
5. Blackrock • +3.2M shares
Top Sellers
1. Coatue Management • -7.7M shares
2. Wellington Management • -5.5M shares
3. Morgan Stanley • -4.3M shares
4. Brown Advisory • -4.2M shares
5. FMR • -3.9M shares
It is worth highlighting that the insider initiated the purchase of $Block(SQ)$ shares within a week of the company releasing its better-than-expected third-quarter results. Alongside earnings, $Block(SQ)$ announced its first-ever $1 billion stock buyback program to offset potential dilution effects from share-based compensation.
Following the earnings release on November 2, $Block(SQ)$ received 19 Buy ratings and six Hold ratings from Wall Street analysts. Among the bullish analysts, Jason Kupferberg of Bank of America Securities is optimistic about the company’s future.
From the shareholder list, we can see that $ARK Innovation ETF(ARKK)$ bought 160.18k shares of $Block(SQ)$ in Q3 2023, making it the top 10 shareholder.
Is $Block(SQ)$ a buy or sell?
Are there any other companies’s board members do the same?
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everyone who sold at $39 buying back at $55-$60-$75-$80…😂😂😂 Can we please do this 900X more over the next decade?
Getting accumulated. See you in $60s by next week, if not by the coming Friday!
ready to short when market bubble pops … after that buying for long term. Just getting some more cash for more common stocks to buy 😉
Glad this stock is finally moving green. If it just goes up another few hundred percent I can break even.
did an insider really purchase 27 million dollars of stock