GSA Capital Partners LLP trimmed its position in Block, Inc. (NYSE:SQ - Free Report) by 54.0% in the third quarter, according to its most recent filing with the SEC. The fund owned 22,543 shares of the technology company's stock after selling 26,445 shares during the period. GSA Capital Partners LLP's holdings in Block were worth $1,513,000 as of its most recent filing with the SEC.
A number of other large investors also recently modified their holdings of SQ. Baillie Gifford & Co. lifted its stake in shares of Block by 45.7% in the 2nd quarter. Baillie Gifford & Co. now owns 10,085,229 shares of the technology company's stock valued at $650,396,000 after acquiring an additional 3,163,975 shares during the last quarter. Lone Pine Capital LLC raised its position in Block by 13.9% during the 2nd quarter. Lone Pine Capital LLC now owns 7,670,523 shares of the technology company's stock worth $494,672,000 after purchasing an additional 934,588 shares during the last quarter. D1 Capital Partners L.P. raised its position in Block by 76.7% during the 2nd quarter. D1 Capital Partners L.P. now owns 1,831,342 shares of the technology company's stock worth $118,103,000 after purchasing an additional 795,000 shares during the last quarter. Canada Pension Plan Investment Board raised its position in Block by 1,061.0% during the 2nd quarter. Canada Pension Plan Investment Board now owns 657,667 shares of the technology company's stock worth $42,413,000 after purchasing an additional 601,020 shares during the last quarter. Finally, Capital World Investors raised its position in Block by 4.7% during the 1st quarter. Capital World Investors now owns 13,096,614 shares of the technology company's stock worth $1,107,712,000 after purchasing an additional 582,826 shares during the last quarter. 70.44% of the stock is currently owned by institutional investors.
Block Price Performance
NYSE:SQ traded down $1.43 during trading hours on Wednesday, hitting $85.82. 12,938,271 shares of the company's stock traded hands, compared to its average volume of 8,145,545. The firm has a market cap of $52.84 billion, a P/E ratio of 50.01, a P/E/G ratio of 1.18 and a beta of 2.48. Block, Inc. has a 52 week low of $53.82 and a 52 week high of $90.00. The business's fifty day simple moving average is $69.67 and its two-hundred day simple moving average is $67.09. 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 at Block
In other Block news, insider Brian Grassadonia sold 8,328 shares of Block stock in a transaction dated Wednesday, August 21st. The stock was sold at an average price of $64.77, for a total transaction of $539,404.56. Following the completion of the sale, the insider now owns 580,086 shares of the company's stock, valued at $37,572,170.22. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. In other Block news, CAO Ajmere Dale sold 1,406 shares of the company'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 transaction of $90,968.20. Following the transaction, the chief accounting officer now owns 90,960 shares in the company, valued at approximately $5,885,112. This represents a 0.00 % 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, insider Brian Grassadonia sold 8,328 shares of the company's stock in a transaction that occurred on Wednesday, August 21st. The stock was 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 $37,572,170.22. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 24,714 shares of company stock valued at $1,606,992. Company insiders own 10.49% of the company's stock.
Analyst Upgrades and Downgrades
Several equities research analysts recently commented on the company. Oppenheimer assumed coverage on Block in a research report on Tuesday, October 1st. They set a "market perform" rating on the stock. BMO Capital Markets decreased their target price on Block from $93.00 to $92.00 and set an "outperform" rating for the company in a research note on Thursday, October 3rd. Royal Bank of Canada reiterated an "outperform" rating and issued a $88.00 price target on shares of Block in a report on Monday, October 21st. New Street Research began coverage on Block in a report on Monday, September 9th. They issued a "neutral" rating and a $70.00 price target on the stock. Finally, Needham & Company LLC increased their price target on Block from $80.00 to $90.00 and gave the stock a "buy" rating in a report on Friday, November 8th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating, twenty-three have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, Block presently has a consensus rating of "Moderate Buy" and a consensus price target of $91.30.
View Our Latest Analysis on Block
Block Company Profile
(
Free Report)
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.
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