Block, Inc. (NYSE:SQ) Shares Sold by KBC Group NV

KBC Group NV cut its stake in Block, Inc. (NYSE:SQ - Free Report) by 87.1% in the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 105,918 shares of the technology company's stock after selling 712,750 shares during the period. KBC Group NV's holdings in Block were worth $7,110,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in the company. Yoder Wealth Management Inc. grew its position in Block by 0.4% during the 3rd quarter. Yoder Wealth Management Inc. now owns 39,688 shares of the technology company's stock worth $2,664,000 after acquiring an additional 145 shares during the last quarter. Nations Financial Group Inc. IA ADV grew its holdings in shares of Block by 1.9% during the 3rd quarter. Nations Financial Group Inc. IA ADV now owns 7,744 shares of the technology company's stock worth $520,000 after acquiring an additional 145 shares during the period. Moser Wealth Advisors LLC lifted its position in Block by 2.5% during the third quarter. Moser Wealth Advisors LLC now owns 6,265 shares of the technology company's stock valued at $421,000 after buying an additional 153 shares during the period. Lindbrook Capital LLC lifted its position in Block by 6.3% during the 3rd quarter. Lindbrook Capital LLC now owns 2,592 shares of the technology company's stock valued at $174,000 after acquiring an additional 154 shares during the period. Finally, Quintet Private Bank Europe S.A. boosted its position in shares of Block by 13.8% in the 3rd quarter. Quintet Private Bank Europe S.A. now owns 1,351 shares of the technology company's stock worth $91,000 after purchasing an additional 164 shares in the last quarter. Institutional investors own 70.44% of the company's stock.

Analyst Ratings Changes

Several equities analysts recently issued reports on the company. Benchmark reaffirmed a "buy" rating and issued a $99.00 price objective on shares of Block in a research report on Friday, August 2nd. New Street Research started coverage on shares of Block in a report on Monday, September 9th. They set a "neutral" rating and a $70.00 price target on the stock. Canaccord Genuity Group lifted their target price on Block from $95.00 to $120.00 and gave the company a "buy" rating in a research note on Tuesday, November 12th. Morgan Stanley cut their price objective on Block from $60.00 to $55.00 and set an "underweight" rating for the company in a research report on Tuesday, July 30th. Finally, William Blair restated an "outperform" rating on shares of Block in a research report on Friday. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and twenty-four have given a buy rating to the company. According to MarketBeat.com, Block currently has a consensus rating of "Moderate Buy" and a consensus price target of $91.30.

Insider Buying and Selling

In other news, CAO Ajmere Dale sold 1,406 shares of the company's 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 sale, the chief accounting officer now directly owns 90,960 shares of the company's stock, valued at $5,885,112. This represents a 1.52 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Amrita Ahuja sold 6,661 shares of Block stock in a transaction dated Wednesday, August 21st. The shares were sold at an average price of $64.70, for a total value of $430,966.70. Following the transaction, the chief financial officer now owns 264,697 shares of the company's stock, valued at $17,125,895.90. The trade was a 2.45 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 28,678 shares of company stock worth $1,924,112 in the last ninety days. 10.49% of the stock is owned by insiders.

Block Stock Up 1.1 %

SQ stock traded up $0.88 during trading on Friday, reaching $84.30. 6,915,237 shares of the company traded hands, compared to its average volume of 8,521,384. The company has a market capitalization of $51.90 billion, a price-to-earnings ratio of 47.36, a price-to-earnings-growth ratio of 1.14 and a beta of 2.48. Block, Inc. has a 12 month low of $55.00 and a 12 month high of $90.00. The company has a debt-to-equity ratio of 0.26, a quick ratio of 2.07 and a current ratio of 2.07. The business has a 50 day simple moving average of $70.94 and a 200 day simple moving average of $67.35.

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.