Block, Inc. (NYSE:SQ) Stock Holdings Lifted by Ribbit Management Company LLC

Ribbit Management Company LLC raised its position in shares of Block, Inc. (NYSE:SQ - Free Report) by 9.6% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,001,500 shares of the technology company's stock after acquiring an additional 88,000 shares during the period. Block makes up approximately 4.5% of Ribbit Management Company LLC's investment portfolio, making the stock its 5th largest position. Ribbit Management Company LLC owned about 0.16% of Block worth $67,231,000 at the end of the most recent reporting period.

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

Block Trading Down 0.3 %

Shares of SQ traded down $0.23 during trading hours on Thursday, hitting $88.78. 6,646,061 shares of the stock were exchanged, compared to its average volume of 8,238,983. The firm has a market capitalization of $55.03 billion, a P/E ratio of 49.87, a price-to-earnings-growth ratio of 1.22 and a beta of 2.48. The company has a debt-to-equity ratio of 0.26, a current ratio of 2.07 and a quick 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 business has a 50-day moving average of $75.20 and a 200-day moving average of $68.47.

Insiders Place Their Bets

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

Wall Street Analyst Weigh In

A number of research analysts recently commented on SQ shares. BNP Paribas downgraded Block from an "outperform" rating to a "neutral" rating and set a $88.00 price target for the company. in a research note on Wednesday, November 20th. Needham & Company LLC increased their price target on shares of Block from $80.00 to $90.00 and gave the stock a "buy" rating in a research report on Friday, November 8th. UBS Group lowered 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. Wells Fargo & Company reduced their target price on Block from $95.00 to $85.00 and set an "overweight" rating on the stock in a report on Friday, August 2nd. Finally, Piper Sandler restated an "overweight" rating and set a $83.00 price objective on shares of Block in a research report on Monday, November 11th. One research 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. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $91.46.

Block 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.