Intech Investment Management LLC Sells 38,494 Shares of Block, Inc. (NYSE:SQ)

Intech Investment Management LLC lowered its position in shares of Block, Inc. (NYSE:SQ - Free Report) by 57.2% during the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 28,822 shares of the technology company's stock after selling 38,494 shares during the quarter. Intech Investment Management LLC's holdings in Block were worth $1,935,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of SQ. Yoder Wealth Management Inc. raised its position in shares of 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 period. Nations Financial Group Inc. IA ADV raised its stake in 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 valued at $520,000 after acquiring an additional 145 shares in the last quarter. Moser Wealth Advisors LLC raised its stake in Block by 2.5% during the 3rd quarter. Moser Wealth Advisors LLC now owns 6,265 shares of the technology company's stock valued at $421,000 after acquiring an additional 153 shares in the last quarter. Lindbrook Capital LLC raised its stake 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 in the last quarter. Finally, Quintet Private Bank Europe S.A. raised its stake in Block by 13.8% during the 3rd quarter. Quintet Private Bank Europe S.A. now owns 1,351 shares of the technology company's stock valued at $91,000 after acquiring an additional 164 shares in the last quarter. Institutional investors and hedge funds own 70.44% of the company's stock.

Analyst Ratings Changes

Several brokerages have weighed in on SQ. William Blair reaffirmed an "outperform" rating on shares of Block in a research note on Friday, November 15th. Needham & Company LLC boosted their price objective on Block from $80.00 to $90.00 and gave the stock a "buy" rating in a research note on Friday, November 8th. Canaccord Genuity Group boosted their price objective on Block from $95.00 to $120.00 and gave the stock a "buy" rating in a research note on Tuesday, November 12th. Royal Bank of Canada reissued an "outperform" rating and issued a $88.00 price objective on shares of Block in a research note on Monday, October 21st. Finally, BMO Capital Markets cut Block from an "outperform" rating to a "market perform" rating and lifted their target price for the stock from $94.00 to $100.00 in a report on Monday. One analyst has rated the stock with a sell rating, seven have given a hold rating and twenty-three have given a buy rating to the company's stock. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of $91.46.

Insider Transactions at Block

In other news, CFO Amrita Ahuja sold 5,935 shares of the stock in a transaction on Wednesday, October 2nd. The shares were sold at an average price of $65.53, for a total transaction of $388,920.55. Following the completion of the sale, the chief financial officer now owns 255,496 shares of the company's stock, valued at $16,742,652.88. This represents a 2.27 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CAO Ajmere Dale sold 500 shares of the business's 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 sale, the chief accounting officer now directly owns 90,460 shares in the company, valued at $6,060,820. This represents a 0.55 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 12,283 shares of company stock valued at $862,773 over the last three months. 10.49% of the stock is currently owned by corporate insiders.

Block Trading Down 1.1 %

NYSE:SQ traded down $0.98 during mid-day trading on Monday, hitting $91.28. The company had a trading volume of 7,410,208 shares, compared to its average volume of 8,231,474. The company has a debt-to-equity ratio of 0.26, a quick ratio of 2.07 and a current ratio of 2.07. Block, Inc. has a fifty-two week low of $55.00 and a fifty-two week high of $94.12. The firm has a market cap of $56.58 billion, a P/E ratio of 50.74, a P/E/G ratio of 1.24 and a beta of 2.48. The business's fifty day moving average is $73.83 and its two-hundred day moving average is $68.07.

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.