Cornercap Investment Counsel Inc. Sells 7,668 Shares of Block, Inc. (NYSE:SQ)

Cornercap Investment Counsel Inc. lowered its stake in shares of Block, Inc. (NYSE:SQ - Free Report) by 35.8% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 13,777 shares of the technology company's stock after selling 7,668 shares during the period. Cornercap Investment Counsel Inc.'s holdings in Block were worth $925,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Yoder Wealth Management Inc. lifted its holdings 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 purchasing an additional 145 shares during the last quarter. Nations Financial Group Inc. IA ADV lifted its position in shares of Block by 1.9% in the 3rd quarter. Nations Financial Group Inc. IA ADV now owns 7,744 shares of the technology company's stock worth $520,000 after purchasing an additional 145 shares during the period. Moser Wealth Advisors LLC grew its position in shares of Block by 2.5% during the 3rd quarter. Moser Wealth Advisors LLC now owns 6,265 shares of the technology company's stock worth $421,000 after buying an additional 153 shares during the period. Lindbrook Capital LLC increased its position in Block by 6.3% in the 3rd quarter. Lindbrook Capital LLC now owns 2,592 shares of the technology company's stock valued at $174,000 after buying an additional 154 shares in the last quarter. Finally, Quintet Private Bank Europe S.A. raised its position in shares of Block by 13.8% during the third 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 during the period. Institutional investors own 70.44% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on the stock. Benchmark reaffirmed a "buy" rating and issued a $99.00 price target on shares of Block in a research report on Friday, August 2nd. New Street Research started coverage on Block in a report on Monday, September 9th. They set a "neutral" rating and a $70.00 price target for the company. BMO Capital Markets cut their price objective on shares of Block from $93.00 to $92.00 and set an "outperform" rating on the stock in a report on Thursday, October 3rd. Oppenheimer started coverage on shares of Block in a report on Tuesday, October 1st. They issued a "market perform" rating for the company. Finally, UBS Group reduced their price objective on shares of Block from $100.00 to $92.00 and set a "buy" rating for the company in a research report on Tuesday, August 27th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and twenty-four have issued a buy rating to the stock. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and an average price target of $91.30.

Insider Transactions at Block

In other news, insider Brian Grassadonia sold 1,884 shares of the company's stock in a transaction dated Wednesday, October 2nd. The stock was sold at an average price of $65.41, for a total value of $123,232.44. Following the completion of the transaction, the insider now owns 574,914 shares of the company's stock, valued at $37,605,124.74. This represents a 0.33 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CAO Ajmere Dale sold 1,406 shares of the 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 owns 90,960 shares in the company, valued at approximately $5,885,112. The trade was a 1.52 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 28,678 shares of company stock worth $1,924,112 in the last quarter. Company insiders own 10.49% of the company's stock.

Block Stock Performance

SQ stock traded up $0.88 during trading on Friday, reaching $84.30. The stock had a trading volume of 6,855,947 shares, compared to its average volume of 8,144,712. The stock's 50 day moving average is $70.48 and its two-hundred day moving average is $67.33. The firm has a market cap of $51.90 billion, a PE ratio of 46.47, a PEG ratio of 1.16 and a beta of 2.48. Block, Inc. has a 52 week low of $55.00 and a 52 week high of $90.00. The company has a current ratio of 2.07, a quick ratio of 2.07 and a debt-to-equity ratio of 0.26.

Block Company 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.