Block, Inc. (NYSE:SQ) Shares Sold by Loomis Sayles & Co. L P

Loomis Sayles & Co. L P trimmed its stake in shares of Block, Inc. (NYSE:SQ - Free Report) by 3.1% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 7,820,783 shares of the technology company's stock after selling 253,870 shares during the quarter. Loomis Sayles & Co. L P owned about 1.27% of Block worth $525,009,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors also recently modified their holdings of the company. SouthState Corp lifted its holdings in shares of Block by 85.3% in the 3rd quarter. SouthState Corp now owns 391 shares of the technology company's stock valued at $26,000 after buying an additional 180 shares during the period. LRI Investments LLC purchased a new stake in shares of Block during the 1st quarter worth $34,000. Unique Wealth Strategies LLC acquired a new position in shares of Block during the 2nd quarter worth $34,000. V Square Quantitative Management LLC acquired a new stake in shares of Block in the third quarter valued at about $46,000. Finally, Migdal Insurance & Financial Holdings Ltd. purchased a new stake in Block during the second quarter worth about $44,000. 70.44% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, 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 completion of the sale, the chief financial officer now owns 255,496 shares in the company, valued at approximately $16,742,652.88. This trade represents a 2.27 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CAO Ajmere Dale sold 500 shares of the business's stock in a transaction that occurred on Tuesday, October 1st. The stock was sold at an average price of $67.00, for a total value of $33,500.00. Following the transaction, the chief accounting officer now directly owns 90,460 shares in the company, valued at $6,060,820. This trade represents a 0.55 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 12,283 shares of company stock worth $862,773 over the last ninety days. 10.49% of the stock is owned by company insiders.

Analysts Set New Price Targets

SQ has been the subject of a number of research analyst reports. BNP Paribas cut shares of Block from an "outperform" rating to a "neutral" rating and set a $88.00 target price for the company. in a report on Wednesday, November 20th. Oppenheimer initiated coverage on Block in a research report on Tuesday, October 1st. They set a "market perform" rating on the stock. New Street Research assumed coverage on Block in a research report on Monday, September 9th. They issued a "neutral" rating and a $70.00 price target for the company. UBS Group decreased their price objective on shares of Block from $100.00 to $92.00 and set a "buy" rating on the stock in a research report on Tuesday, August 27th. Finally, Royal Bank of Canada restated an "outperform" rating and set a $88.00 target price on shares of Block in a report on Monday, October 21st. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and twenty-three have given a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $91.46.

Block Trading Down 1.6 %

SQ traded down $1.51 on Monday, reaching $90.75. 11,049,898 shares of the company's stock were exchanged, compared to its average volume of 8,247,438. Block, Inc. has a twelve month low of $55.00 and a twelve month high of $94.12. The company's 50 day moving average is $73.83 and its 200-day moving average is $68.07. 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 company has a market cap of $56.25 billion, a price-to-earnings ratio of 50.74, a PEG ratio of 1.24 and a beta of 2.48.

About Block

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.