Dimensional Fund Advisors LP Acquires 133,840 Shares of Block, Inc. (NYSE:SQ)

Dimensional Fund Advisors LP raised its holdings in shares of Block, Inc. (NYSE:SQ – Get Rating) by 34.4% during the third quarter, HoldingsChannel reports. The fund owned 522,545 shares of the technology company’s stock after purchasing an additional 133,840 shares during the quarter. Dimensional Fund Advisors LP’s holdings in Block were worth $28,750,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also bought and sold shares of the company. Householder Group Estate & Retirement Specialist LLC bought a new stake in Block during the 3rd quarter valued at $28,000. Heritage Wealth Management LLC bought a new stake in Block during the 2nd quarter valued at $36,000. Twin Lakes Capital Management LLC bought a new stake in Block during the 3rd quarter valued at $37,000. Ronald Blue Trust Inc. bought a new stake in Block during the 2nd quarter valued at $43,000. Finally, CoreCap Advisors LLC bought a new position in shares of Block in the second quarter worth $44,000. Institutional investors own 59.49% of the company’s stock.

Analyst Ratings Changes

Several research analysts have recently weighed in on SQ shares. Morgan Stanley upped their price target on shares of Block from $67.00 to $72.00 and gave the stock an “equal weight” rating in a report on Tuesday, February 21st. Barclays upped their price target on shares of Block from $100.00 to $103.00 and gave the stock an “overweight” rating in a report on Monday, January 23rd. BNP Paribas started coverage on shares of Block in a report on Tuesday. They issued an “underperform” rating on the stock. Mizuho upped their price target on shares of Block from $70.00 to $80.00 and gave the stock a “neutral” rating in a report on Monday, February 27th. Finally, Truist Financial upped their price target on shares of Block from $85.00 to $105.00 and gave the stock a “buy” rating in a report on Friday, January 20th. Three analysts have rated the stock with a sell rating, six have given a hold rating and twenty-two have assigned a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $107.19.

Block Price Performance

Shares of NYSE SQ opened at $80.88 on Friday. Block, Inc. has a fifty-two week low of $51.34 and a fifty-two week high of $149.00. The company has a 50 day simple moving average of $74.58 and a two-hundred day simple moving average of $67.53. The company has a market capitalization of $48.37 billion, a price-to-earnings ratio of -85.14 and a beta of 2.35. The company has a debt-to-equity ratio of 0.24, a quick ratio of 1.85 and a current ratio of 1.85.

Insider Buying and Selling at Block

In other Block news, insider Alyssa Henry sold 30,769 shares of the firm’s stock in a transaction that occurred on Wednesday, December 28th. The shares were sold at an average price of $59.49, for a total transaction of $1,830,447.81. Following the completion of the transaction, the insider now owns 422,617 shares of the company’s stock, valued at $25,141,485.33. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, CFO Amrita Ahuja sold 19,750 shares of the firm’s stock in a transaction that occurred on Thursday, February 2nd. The shares were sold at an average price of $88.05, for a total transaction of $1,738,987.50. Following the completion of the sale, the chief financial officer now owns 138,152 shares of the company’s stock, valued at $12,164,283.60. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Alyssa Henry sold 30,769 shares of the firm’s stock in a transaction that occurred on Wednesday, December 28th. The shares were sold at an average price of $59.49, for a total transaction of $1,830,447.81. Following the sale, the insider now directly owns 422,617 shares of the company’s stock, valued at approximately $25,141,485.33. The disclosure for this sale can be found here. Over the last quarter, insiders sold 241,823 shares of company stock valued at $17,532,598. Corporate insiders own 11.52% of the company’s stock.

About Block

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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.