Huntington National Bank Has $57,000 Holdings in Block, Inc. (NYSE:SQ)

Huntington National Bank lifted its stake in Block, Inc. (NYSE:SQFree Report) by 30.5% during the third quarter, Holdings Channel.com reports. The fund owned 1,292 shares of the technology company’s stock after buying an additional 302 shares during the period. Huntington National Bank’s holdings in Block were worth $57,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of SQ. Hexagon Capital Partners LLC raised its stake in Block by 89.6% in the third quarter. Hexagon Capital Partners LLC now owns 635 shares of the technology company’s stock valued at $28,000 after buying an additional 300 shares during the period. Strategic Investment Solutions Inc. IL bought a new stake in Block in the first quarter valued at approximately $31,000. Tobam raised its stake in Block by 885.7% in the second quarter. Tobam now owns 483 shares of the technology company’s stock valued at $32,000 after buying an additional 434 shares during the period. Larson Financial Group LLC raised its stake in Block by 38.4% in the third quarter. Larson Financial Group LLC now owns 728 shares of the technology company’s stock valued at $32,000 after buying an additional 202 shares during the period. Finally, McClarren Financial Advisors Inc. raised its stake in Block by 1,571.4% in the second quarter. McClarren Financial Advisors Inc. now owns 585 shares of the technology company’s stock valued at $38,000 after buying an additional 550 shares during the period. Institutional investors and hedge funds own 61.17% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on SQ. Mizuho upped their price objective on Block from $90.00 to $99.00 and gave the company a “buy” rating in a research note on Tuesday, December 12th. CLSA upgraded 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. The Goldman Sachs Group lowered their target price on Block from $110.00 to $95.00 and set a “buy” rating on the stock in a research note on Friday, November 3rd. Truist Financial lowered their target price on Block from $85.00 to $70.00 and set a “buy” rating on the stock in a research note on Tuesday, October 17th. Finally, StockNews.com upgraded Block from a “sell” rating to a “hold” rating in a research note on Friday, November 3rd. Seven equities research analysts have rated the stock with a hold rating and twenty-four have given a buy rating to the company. Based on data from MarketBeat.com, Block currently has a consensus rating of “Moderate Buy” and an average price target of $76.87.

View Our Latest Analysis on SQ

Block Trading Up 2.9 %

Shares of SQ stock opened at $68.84 on Tuesday. The stock’s fifty day moving average price is $69.74 and its two-hundred day moving average price is $59.29. Block, Inc. has a fifty-two week low of $38.85 and a fifty-two week high of $83.08. The company has a quick ratio of 1.91, a current ratio of 1.91 and a debt-to-equity ratio of 0.23.

Insider Activity at Block

In related news, insider Brian Grassadonia sold 5,652 shares of the firm’s stock in a transaction on Thursday, January 4th. The stock was sold at an average price of $68.00, for a total transaction of $384,336.00. Following the sale, the insider now owns 280,208 shares of the company’s stock, valued at approximately $19,054,144. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In related news, insider Brian Grassadonia sold 5,652 shares of the firm’s stock in a transaction on Thursday, January 4th. The stock was sold at an average price of $68.00, for a total transaction of $384,336.00. Following the sale, the insider now owns 280,208 shares of the company’s stock, valued at approximately $19,054,144. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CAO Ajmere Dale sold 500 shares of the firm’s stock in a transaction on 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 disclosure for this sale can be found here. Insiders have sold a total of 33,302 shares of company stock valued at $2,258,303 in the last 90 days. 10.79% of the stock is owned by corporate insiders.

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

Want to see what other hedge funds are holding SQ? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Block, Inc. (NYSE:SQFree Report).

Institutional Ownership by Quarter for Block (NYSE:SQ)

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