DRW Securities LLC Makes New Investment in Block, Inc. (NYSE:SQ)

DRW Securities LLC acquired a new stake in Block, Inc. (NYSE:SQ - Free Report) during the third quarter, according to its most recent filing with the SEC. The firm acquired 5,926 shares of the technology company's stock, valued at approximately $398,000.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Swiss National Bank raised its stake in shares of Block by 0.5% during the third quarter. Swiss National Bank now owns 1,651,886 shares of the technology company's stock worth $110,891,000 after buying an additional 8,200 shares during the last quarter. National Pension Service grew its holdings in Block by 13.5% during the 3rd quarter. National Pension Service now owns 1,083,113 shares of the technology company's stock worth $72,709,000 after acquiring an additional 128,832 shares during the period. Baillie Gifford & Co. raised its position in shares of Block by 1.5% during the 3rd quarter. Baillie Gifford & Co. now owns 10,233,102 shares of the technology company's stock valued at $686,948,000 after acquiring an additional 147,873 shares during the last quarter. Lone Pine Capital LLC lifted its stake in shares of Block by 13.9% in the 2nd quarter. Lone Pine Capital LLC now owns 7,670,523 shares of the technology company's stock valued at $494,672,000 after purchasing an additional 934,588 shares during the period. Finally, DekaBank Deutsche Girozentrale lifted its stake in shares of Block by 2.7% in the 3rd quarter. DekaBank Deutsche Girozentrale now owns 541,204 shares of the technology company's stock valued at $35,969,000 after purchasing an additional 14,163 shares during the period. 70.44% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

SQ has been the subject of a number of analyst reports. Keefe, Bruyette & Woods upped their price objective on Block from $71.00 to $80.00 and gave the company a "market perform" rating in a report on Friday, November 8th. Needham & Company LLC increased their price target on shares of Block from $80.00 to $90.00 and gave the company a "buy" rating in a research report on Friday, November 8th. Morgan Stanley decreased their price objective on shares of Block from $60.00 to $55.00 and set an "underweight" rating for the company in a report on Tuesday, July 30th. UBS Group lowered their target price on shares of Block from $100.00 to $92.00 and set a "buy" rating for the company in a research note on Tuesday, August 27th. Finally, Wells Fargo & Company reduced their price target on shares of Block from $95.00 to $85.00 and set an "overweight" rating on the stock in a research report on Friday, August 2nd. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and twenty-three have issued a buy rating to the company's stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $91.46.

Insider Transactions at Block

In other Block news, CAO Ajmere Dale sold 500 shares of Block stock in a transaction on Tuesday, October 1st. The shares were sold at an average price of $67.00, for a total transaction of $33,500.00. Following the completion of the transaction, the chief accounting officer now directly owns 90,460 shares of the company's stock, valued at $6,060,820. The trade was a 0.55 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Brian Grassadonia sold 1,884 shares of the firm's stock in a transaction dated Wednesday, October 2nd. The stock was sold at an average price of $65.41, for a total transaction of $123,232.44. Following the sale, the insider now owns 574,914 shares of the company's stock, valued at approximately $37,605,124.74. This represents a 0.33 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 29,053 shares of company stock worth $2,393,972 in the last ninety days. Insiders own 10.49% of the company's stock.

Block Stock Down 0.3 %

SQ traded down $0.23 on Wednesday, hitting $88.78. 6,615,633 shares of the company were exchanged, compared to its average volume of 8,238,972. Block, Inc. has a 12 month low of $55.00 and a 12 month high of $94.12. 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 stock's fifty day moving average is $74.76 and its 200-day moving average is $68.32. The company has a market cap of $55.03 billion, a PE ratio of 50.02, a PEG ratio of 1.22 and a beta of 2.48.

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.