22,477 Shares in Block, Inc. (NYSE:SQ) Purchased by B. Metzler seel. Sohn & Co. Holding AG

B. Metzler seel. Sohn & Co. Holding AG bought a new position in Block, Inc. (NYSE:SQ - Free Report) in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund bought 22,477 shares of the technology company's stock, valued at approximately $1,509,000.

Other institutional investors also recently bought and sold shares of the company. SouthState Corp increased its stake in Block by 85.3% in the third quarter. SouthState Corp now owns 391 shares of the technology company's stock valued at $26,000 after purchasing an additional 180 shares during the last quarter. Prospera Financial Services Inc increased its stake in shares of Block by 4.7% during the 3rd quarter. Prospera Financial Services Inc now owns 8,498 shares of the technology company's stock valued at $571,000 after acquiring an additional 383 shares during the last quarter. Aviance Capital Partners LLC lifted its holdings in shares of Block by 28.9% during the 3rd quarter. Aviance Capital Partners LLC now owns 20,077 shares of the technology company's stock worth $1,348,000 after acquiring an additional 4,504 shares during the period. Gilbert & Cook Inc. boosted its position in shares of Block by 6.4% in the third quarter. Gilbert & Cook Inc. now owns 10,698 shares of the technology company's stock worth $718,000 after acquiring an additional 645 shares during the last quarter. Finally, Swiss National Bank grew its holdings in Block by 0.5% in the third quarter. Swiss National Bank now owns 1,651,886 shares of the technology company's stock valued at $110,891,000 after purchasing an additional 8,200 shares during the period. 70.44% of the stock is currently owned by institutional investors and hedge funds.

Block Stock Down 0.5 %

NYSE SQ traded down $0.44 during trading hours on Friday, reaching $92.26. 9,117,000 shares of the company traded hands, compared to its average volume of 10,421,971. The company has a 50 day moving average of $73.83 and a two-hundred day moving average of $68.10. The stock has a market capitalization of $57.18 billion, a PE ratio of 51.83, a PEG ratio of 1.25 and a beta of 2.48. Block, Inc. has a 12 month low of $55.00 and a 12 month high of $94.12. The company has a current ratio of 2.07, a quick ratio of 2.07 and a debt-to-equity ratio of 0.26.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on the stock. Royal Bank of Canada reaffirmed an "outperform" rating and set a $88.00 price target on shares of Block in a research note on Monday, October 21st. Piper Sandler reiterated an "overweight" rating and issued a $83.00 target price on shares of Block in a report on Monday, November 11th. New Street Research started coverage on Block in a research note on Monday, September 9th. They set a "neutral" rating and a $70.00 price target for the company. Morgan Stanley reduced their price objective on Block from $60.00 to $55.00 and set an "underweight" rating on the stock in a research note on Tuesday, July 30th. Finally, UBS Group decreased their target price on Block from $100.00 to $92.00 and set a "buy" rating for the company in a report on Tuesday, August 27th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and twenty-four have issued a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $91.18.

Insiders Place Their Bets

In other news, insider Chrysty Esperanza sold 2,964 shares of the firm's stock in a transaction dated Monday, November 11th. The shares were sold at an average price of $80.00, for a total value of $237,120.00. Following the transaction, the insider now directly owns 88,607 shares in the company, valued at approximately $7,088,560. This trade represents a 3.24 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CAO Ajmere Dale sold 1,000 shares of Block stock in a transaction dated Monday, November 11th. The shares were sold at an average price of $80.00, for a total transaction of $80,000.00. Following the completion of the transaction, the chief accounting officer now directly owns 88,791 shares of the company's stock, valued at $7,103,280. This trade represents a 1.11 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 12,283 shares of company stock valued at $862,773 in the last quarter. Insiders own 10.49% of the company's stock.

About Block

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.