Ghe LLC Sells 15,716 Shares of Block, Inc. (NYSE:SQ)

GHE LLC cut its stake in Block, Inc. (NYSE:SQ - Free Report) by 75.2% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 5,170 shares of the technology company's stock after selling 15,716 shares during the period. GHE LLC's holdings in Block were worth $347,000 at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in SQ. Envestnet Portfolio Solutions Inc. grew its stake in Block by 53.9% during the 1st quarter. Envestnet Portfolio Solutions Inc. now owns 6,947 shares of the technology company's stock worth $588,000 after buying an additional 2,432 shares during the last quarter. Empowered Funds LLC boosted its stake in Block by 28.2% during the 1st quarter. Empowered Funds LLC now owns 20,750 shares of the technology company's stock valued at $1,755,000 after purchasing an additional 4,561 shares during the period. Avantax Advisory Services Inc. increased its stake in shares of Block by 6.3% in the first quarter. Avantax Advisory Services Inc. now owns 21,928 shares of the technology company's stock valued at $1,855,000 after purchasing an additional 1,292 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. raised its holdings in shares of Block by 19.2% during the first quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 301,857 shares of the technology company's stock valued at $25,531,000 after buying an additional 48,646 shares during the last quarter. Finally, Blair William & Co. IL boosted its position in shares of Block by 3.0% during the first quarter. Blair William & Co. IL now owns 222,495 shares of the technology company's stock worth $18,819,000 after buying an additional 6,556 shares during the period. 70.44% of the stock is currently owned by institutional investors.

Block Stock Down 1.6 %

SQ stock traded down $1.43 during mid-day trading on Wednesday, hitting $85.82. The stock had a trading volume of 12,935,783 shares, compared to its average volume of 8,145,625. Block, Inc. has a 1-year low of $53.82 and a 1-year high of $90.00. The company has a fifty day moving average of $69.67 and a 200 day moving average of $67.09. The company has a current ratio of 2.07, a quick ratio of 2.07 and a debt-to-equity ratio of 0.26. The stock has a market capitalization of $52.84 billion, a price-to-earnings ratio of 50.01, a PEG ratio of 1.18 and a beta of 2.48.

Insider Activity at Block

In related news, CAO Ajmere Dale sold 1,406 shares of Block stock in a transaction on Wednesday, August 21st. The shares were sold at an average price of $64.70, for a total value of $90,968.20. Following the completion of the sale, the chief accounting officer now owns 90,960 shares of the company's stock, valued at approximately $5,885,112. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In related news, CAO Ajmere Dale sold 1,406 shares of the business's stock in a transaction that occurred on Wednesday, August 21st. The stock was sold at an average price of $64.70, for a total value of $90,968.20. Following the completion of the sale, the chief accounting officer now directly owns 90,960 shares in the company, valued at approximately $5,885,112. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Brian Grassadonia sold 8,328 shares of the stock in a transaction that occurred on Wednesday, August 21st. The shares were sold at an average price of $64.77, for a total value of $539,404.56. Following the transaction, the insider now owns 580,086 shares in the company, valued at approximately $37,572,170.22. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 28,678 shares of company stock valued at $1,924,112. 10.49% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

Several brokerages have weighed in on SQ. Wells Fargo & Company cut their target price on Block from $95.00 to $85.00 and set an "overweight" rating on the stock in a research note on Friday, August 2nd. Keefe, Bruyette & Woods lifted their price objective on shares of Block from $71.00 to $80.00 and gave the company a "market perform" rating in a research note on Friday, November 8th. Benchmark reiterated a "buy" rating and issued a $99.00 target price on shares of Block in a research report on Friday, August 2nd. Canaccord Genuity Group upped their price target on shares of Block from $95.00 to $120.00 and gave the stock a "buy" rating in a research note on Tuesday. Finally, Needham & Company LLC raised their price objective on shares of Block from $80.00 to $90.00 and gave the company a "buy" rating in a research note on Friday, November 8th. One research analyst has rated the stock with a sell rating, five have issued a hold rating, twenty-three have issued a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $91.30.

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.