Blair William & Co. IL Trims Stake in Block, Inc. (NYSE:SQ)

Blair William & Co. IL reduced its position in Block, Inc. (NYSE:SQFree Report) by 3.1% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 224,205 shares of the technology company’s stock after selling 7,097 shares during the quarter. Blair William & Co. IL’s holdings in Block were worth $9,923,000 at the end of the most recent reporting period.

A number of other large investors have also made changes to their positions in SQ. Carson Advisory Inc. raised its position in shares of Block by 10.0% in the 3rd quarter. Carson Advisory Inc. now owns 5,585 shares of the technology company’s stock valued at $247,000 after purchasing an additional 507 shares during the last quarter. Canada Pension Plan Investment Board lifted its stake in shares of Block by 16.1% during the third quarter. Canada Pension Plan Investment Board now owns 1,373,857 shares of the technology company’s stock worth $60,807,000 after buying an additional 190,400 shares during the period. Campbell & CO Investment Adviser LLC purchased a new stake in shares of Block during the third quarter valued at $2,842,000. Huntington National Bank increased its position in shares of Block by 30.5% in the 3rd quarter. Huntington National Bank now owns 1,292 shares of the technology company’s stock valued at $57,000 after acquiring an additional 302 shares during the period. Finally, State Board of Administration of Florida Retirement System raised its stake in Block by 0.5% in the 3rd quarter. State Board of Administration of Florida Retirement System now owns 580,340 shares of the technology company’s stock worth $25,686,000 after acquiring an additional 2,650 shares during the last quarter. 61.17% of the stock is owned by institutional investors and hedge funds.

Block Stock Down 2.8 %

SQ opened at $66.88 on Monday. The company has a debt-to-equity ratio of 0.23, a current ratio of 1.91 and a quick ratio of 1.91. The business has a 50 day simple moving average of $69.66 and a 200-day simple moving average of $59.34. Block, Inc. has a 12 month low of $38.85 and a 12 month high of $83.08. The stock has a market capitalization of $41.07 billion, a P/E ratio of -142.30, a P/E/G ratio of 2.05 and a beta of 2.53.

Insider Activity

In other news, CAO Ajmere Dale sold 630 shares of the firm’s stock in a transaction that occurred on Tuesday, November 21st. The shares were sold at an average price of $58.51, for a total transaction of $36,861.30. Following the completion of the transaction, the chief accounting officer now directly owns 71,504 shares of the company’s stock, valued at approximately $4,183,699.04. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In other news, CAO Ajmere Dale sold 630 shares of Block stock in a transaction on Tuesday, November 21st. The stock was sold at an average price of $58.51, for a total value of $36,861.30. Following the completion of the sale, the chief accounting officer now owns 71,504 shares of the company’s stock, valued at $4,183,699.04. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Brian Grassadonia sold 5,652 shares of the stock in a transaction dated Thursday, January 4th. The stock was sold at an average price of $68.00, for a total value of $384,336.00. Following the transaction, the insider now owns 280,208 shares in the company, valued at $19,054,144. The disclosure for this sale can be found here. Insiders sold a total of 33,302 shares of company stock worth $2,258,303 over the last 90 days. 10.79% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on SQ shares. CLSA upgraded shares of Block from a “sell” rating to an “outperform” rating and set a $57.00 price objective on the stock in a research note on Monday, November 6th. TheStreet raised Block from a “d+” rating to a “c-” rating in a report on Tuesday, December 19th. Wells Fargo & Company began coverage on Block in a report on Tuesday, October 31st. They issued an “equal weight” rating and a $45.00 price target for the company. Barclays raised their price objective on shares of Block from $95.00 to $100.00 and gave the stock an “overweight” rating in a research note on Tuesday, December 5th. Finally, BTIG Research raised shares of Block from a “neutral” rating to a “buy” rating and set a $85.00 price target on the stock in a report on Tuesday, January 30th. Seven investment analysts have rated the stock with a hold rating and twenty-four have given a buy rating to the company’s stock. According to data from MarketBeat.com, Block currently has a consensus rating of “Moderate Buy” and an average price target of $76.87.

Read Our Latest Stock Analysis on SQ

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.

Further Reading

Institutional Ownership by Quarter for Block (NYSE:SQ)

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