Block, Inc. (NYSE:SQ) Shares Sold by Moors & Cabot Inc.

Moors & Cabot Inc. lessened its position in shares of Block, Inc. (NYSE:SQ) by 28.6% during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 7,853 shares of the technology company’s stock after selling 3,151 shares during the period. Moors & Cabot Inc.’s holdings in Block were worth $523,000 as of its most recent SEC filing.

A number of other large investors also recently bought and sold shares of SQ. Bank Julius Baer & Co. Ltd Zurich lifted its holdings in shares of Block by 77,283.6% in the 2nd quarter. Bank Julius Baer & Co. Ltd Zurich now owns 11,698,072 shares of the technology company’s stock worth $778,741,000 after purchasing an additional 11,682,955 shares during the last quarter. ARK Investment Management LLC lifted its holdings in shares of Block by 2.4% in the 2nd quarter. ARK Investment Management LLC now owns 10,726,935 shares of the technology company’s stock worth $714,092,000 after purchasing an additional 256,004 shares during the last quarter. Sumitomo Mitsui Trust Holdings Inc. lifted its holdings in shares of Block by 6.6% in the 2nd quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 10,377,309 shares of the technology company’s stock worth $690,817,000 after purchasing an additional 643,825 shares during the last quarter. Nikko Asset Management Americas Inc. lifted its holdings in shares of Block by 17.8% in the 1st quarter. Nikko Asset Management Americas Inc. now owns 8,205,524 shares of the technology company’s stock worth $551,252,000 after purchasing an additional 1,237,427 shares during the last quarter. Finally, Geode Capital Management LLC lifted its holdings in shares of Block by 3.5% in the 1st quarter. Geode Capital Management LLC now owns 5,685,675 shares of the technology company’s stock worth $389,576,000 after purchasing an additional 189,718 shares during the last quarter. Institutional investors own 61.17% of the company’s stock.

Block Stock Performance

Shares of SQ stock opened at $58.19 on Friday. Block, Inc. has a 1-year low of $38.85 and a 1-year high of $89.97. The company has a current ratio of 1.91, a quick ratio of 1.91 and a debt-to-equity ratio of 0.23. The company has a market capitalization of $35.73 billion, a price-to-earnings ratio of -123.81 and a beta of 2.34. The stock’s fifty day simple moving average is $47.04 and its 200-day simple moving average is $58.09.

Insider Activity

In other news, CAO Ajmere Dale sold 629 shares of Block stock in a transaction on Monday, August 21st. The stock was sold at an average price of $56.49, for a total transaction of $35,532.21. Following the transaction, the chief accounting officer now owns 72,981 shares in the company, valued at $4,122,696.69. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In other Block news, CAO Ajmere Dale sold 629 shares of the business’s stock in a transaction dated Monday, August 21st. The stock was sold at an average price of $56.49, for a total value of $35,532.21. Following the transaction, the chief accounting officer now owns 72,981 shares in the company, valued at $4,122,696.69. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Roelof Botha bought 495,539 shares of the stock in a transaction on Wednesday, November 8th. The stock was purchased at an average price of $50.88 per share, for a total transaction of $25,213,024.32. Following the purchase, the director now directly owns 495,539 shares of the company’s stock, valued at $25,213,024.32. The disclosure for this purchase can be found here. Over the last quarter, insiders have acquired 534,234 shares of company stock worth $27,185,614 and have sold 21,222 shares worth $1,006,326. 10.79% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

Several brokerages recently issued reports on SQ. Wedbush reissued a “neutral” rating and issued a $70.00 price target on shares of Block in a report on Tuesday, September 19th. Wells Fargo & Company assumed coverage on Block in a research report on Tuesday, October 31st. They issued an “equal weight” rating and a $45.00 target price on the stock. UBS Group cut Block from a “buy” rating to a “neutral” rating and lowered their target price for the company from $102.00 to $65.00 in a research report on Wednesday, September 6th. Piper Sandler lowered their target price on Block from $77.00 to $67.00 and set an “overweight” rating on the stock in a research report on Friday, November 3rd. Finally, Robert W. Baird lowered their target price on Block from $92.00 to $72.00 and set an “outperform” rating on the stock in a research report on Monday, September 11th. Nine analysts have rated the stock with a hold rating and twenty-two have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $76.84.

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.