Banque Cantonale Vaudoise Increases Stake in Block, Inc. (NYSE:SQ)

Banque Cantonale Vaudoise increased its stake in Block, Inc. (NYSE:SQFree Report) by 31.5% in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 6,894 shares of the technology company’s stock after purchasing an additional 1,650 shares during the period. Banque Cantonale Vaudoise’s holdings in Block were worth $305,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors also recently bought and sold shares of the stock. Capital World Investors boosted its stake in Block by 0.5% in the 2nd quarter. Capital World Investors now owns 11,368,613 shares of the technology company’s stock worth $756,809,000 after purchasing an additional 55,250 shares in the last quarter. ARK Investment Management LLC raised its position in Block by 1.5% during the 3rd quarter. ARK Investment Management LLC now owns 10,887,114 shares of the technology company’s stock worth $481,864,000 after buying an additional 160,179 shares during the last quarter. Sumitomo Mitsui Trust Holdings Inc. raised its position in Block by 6.6% during 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 buying an additional 643,825 shares during the last quarter. Geode Capital Management LLC raised its position in Block by 30.4% during the 2nd quarter. Geode Capital Management LLC now owns 7,411,331 shares of the technology company’s stock worth $492,513,000 after buying an additional 1,725,656 shares during the last quarter. Finally, Norges Bank purchased a new position in Block during the 4th quarter worth approximately $353,954,000. 61.17% of the stock is currently owned by institutional investors and hedge funds.

Block Stock Up 0.7 %

Shares of SQ opened at $68.81 on Friday. The firm has a market cap of $42.26 billion, a P/E ratio of -146.40, a price-to-earnings-growth ratio of 2.06 and a beta of 2.53. Block, Inc. has a 12-month low of $38.85 and a 12-month high of $83.08. The company’s 50-day moving average price is $69.62 and its 200 day moving average price is $59.65. The company has a current ratio of 1.91, a quick ratio of 1.91 and a debt-to-equity ratio of 0.23.

Wall Street Analyst Weigh In

SQ has been the subject of a number of recent research reports. BMO Capital Markets reissued an “outperform” rating and set a $84.00 price target (down from $93.00) on shares of Block in a research report on Tuesday, December 5th. Mizuho raised their price target on shares of Block from $90.00 to $99.00 and gave the stock a “buy” rating in a research report on Tuesday, December 12th. The Goldman Sachs Group reduced their price target on shares of Block from $110.00 to $95.00 and set a “buy” rating for the company in a research report on Friday, November 3rd. Piper Sandler cut their target price on shares of Block from $77.00 to $67.00 and set an “overweight” rating for the company in a report on Friday, November 3rd. Finally, CLSA raised shares of Block from a “sell” rating to an “outperform” rating and set a $57.00 target price for the company in a report on Monday, November 6th. Seven investment analysts have rated the stock with a hold rating and twenty-four have issued a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $76.87.

Read Our Latest Report on Block

Insider Activity at Block

In related news, CAO Ajmere Dale sold 500 shares of the business’s stock in a transaction dated Thursday, December 14th. The shares were sold at an average price of $75.00, for a total value of $37,500.00. Following the sale, the chief accounting officer now directly owns 71,004 shares in the company, valued at approximately $5,325,300. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In other Block news, CAO Ajmere Dale sold 500 shares of the business’s stock in a transaction dated Thursday, December 14th. The shares were sold at an average price of $75.00, for a total transaction of $37,500.00. Following the sale, the chief accounting officer now directly owns 71,004 shares in the company, valued at $5,325,300. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Roelof Botha purchased 23,433 shares of the business’s stock in a transaction on Monday, November 13th. The shares were acquired at an average price of $50.97 per share, for a total transaction of $1,194,380.01. Following the completion of the purchase, the director now directly owns 540,646 shares of the company’s stock, valued at $27,556,726.62. The disclosure for this purchase can be found here. In the last ninety days, insiders have sold 33,302 shares of company stock worth $2,258,303. Company insiders own 10.79% of the company’s stock.

About Block

(Free Report)

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.

See Also

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Institutional Ownership by Quarter for Block (NYSE:SQ)

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