Cerity Partners LLC Raises Stock Holdings in Block, Inc. (NYSE:SQ)

Cerity Partners LLC boosted its holdings in shares of Block, Inc. (NYSE:SQ - Free Report) by 24.4% during the 3rd quarter, according to its most recent 13F filing with the SEC. The fund owned 37,375 shares of the technology company's stock after purchasing an additional 7,338 shares during the period. Cerity Partners LLC's holdings in Block were worth $2,509,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Swedbank AB acquired a new position in shares of Block in the first quarter worth $2,842,000. Cetera Investment Advisers raised its position in shares of Block by 194.8% during the 1st quarter. Cetera Investment Advisers now owns 104,642 shares of the technology company's stock worth $8,851,000 after purchasing an additional 69,146 shares during the period. Cetera Advisors LLC increased its position in Block by 100.9% in the 1st quarter. Cetera Advisors LLC now owns 32,843 shares of the technology company's stock valued at $2,778,000 after acquiring an additional 16,492 shares during the period. DNB Asset Management AS raised its stake in shares of Block by 6.4% in the 2nd quarter. DNB Asset Management AS now owns 88,960 shares of the technology company's stock worth $5,737,000 after buying an additional 5,336 shares in the last quarter. Finally, Mather Group LLC. lifted its position in shares of Block by 272.5% during the 2nd quarter. Mather Group LLC. now owns 1,680 shares of the technology company's stock valued at $108,000 after acquiring an additional 1,229 shares during the last quarter. 70.44% of the stock is currently owned by hedge funds and other institutional investors.

Block Stock Up 4.8 %

SQ stock traded up $4.22 during trading on Monday, reaching $92.77. The stock had a trading volume of 14,013,830 shares, compared to its average volume of 8,247,938. The company's 50 day moving average is $76.53 and its two-hundred day moving average is $68.85. The company has a market capitalization of $57.50 billion, a price-to-earnings ratio of 52.12, a P/E/G ratio of 1.19 and a beta of 2.48. Block, Inc. has a one year low of $55.00 and a one year high of $95.95. The company has a quick ratio of 2.07, a current ratio of 2.07 and a debt-to-equity ratio of 0.26.

Insider Activity

In related news, CAO Ajmere Dale sold 500 shares of Block stock in a transaction that occurred on Tuesday, October 1st. The shares were sold at an average price of $67.00, for a total value of $33,500.00. Following the completion of the transaction, the chief accounting officer now directly owns 90,460 shares in the company, valued at approximately $6,060,820. The trade was a 0.55 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Amrita Ahuja sold 5,935 shares of the stock in a transaction dated Wednesday, October 2nd. The stock was sold at an average price of $65.53, for a total value of $388,920.55. Following the sale, the chief financial officer now directly owns 255,496 shares in the company, valued at $16,742,652.88. This trade represents a 2.27 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 29,053 shares of company stock valued at $2,393,972 in the last ninety days. 10.49% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

A number of research analysts have commented on SQ shares. UBS Group lowered their target price on Block from $100.00 to $92.00 and set a "buy" rating on the stock in a research note on Tuesday, August 27th. New Street Research started coverage on Block in a research note on Monday, September 9th. They issued a "neutral" rating and a $70.00 target price for the company. Oppenheimer started coverage on Block in a research report on Tuesday, October 1st. They issued a "market perform" rating on the stock. Needham & Company LLC lifted their price target 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. Finally, Canaccord Genuity Group boosted their price target on Block from $95.00 to $120.00 and gave the stock a "buy" rating in a research report on Tuesday, November 12th. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and twenty-four have given a buy rating to the stock. According to MarketBeat.com, Block presently has a consensus rating of "Moderate Buy" and a consensus price target of $93.21.

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.