6,471 Shares in Block, Inc. (NYSE:SQ) Purchased by Summit Trail Advisors LLC

Summit Trail Advisors LLC acquired a new position in Block, Inc. (NYSE:SQ - Free Report) in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm acquired 6,471 shares of the technology company's stock, valued at approximately $434,000.

Several other large investors have also added to or reduced their stakes in the stock. Swiss National Bank lifted its holdings 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 valued at $110,891,000 after purchasing an additional 8,200 shares during the last quarter. National Pension Service grew its position in Block by 13.5% in the 3rd quarter. National Pension Service now owns 1,083,113 shares of the technology company's stock worth $72,709,000 after purchasing an additional 128,832 shares during the period. Baillie Gifford & Co. increased 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 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 worth $494,672,000 after purchasing an additional 934,588 shares during the period. Finally, DekaBank Deutsche Girozentrale boosted its holdings in shares of Block by 2.7% in the third quarter. DekaBank Deutsche Girozentrale now owns 541,204 shares of the technology company's stock worth $35,969,000 after buying an additional 14,163 shares during the last quarter. Institutional investors own 70.44% of the company's stock.

Insiders Place Their Bets

In other news, CFO Amrita Ahuja sold 6,661 shares of the firm's stock in a transaction on Thursday, November 21st. The shares were sold at an average price of $91.43, for a total value of $609,015.23. Following the sale, the chief financial officer now directly owns 246,967 shares in the company, valued at approximately $22,580,192.81. This trade represents a 2.63 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CAO Ajmere Dale sold 500 shares of the company's stock in a transaction dated 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 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. Insiders sold a total of 29,053 shares of company stock worth $2,393,972 over the last 90 days. Corporate insiders own 10.49% of the company's stock.

Analyst Ratings Changes

A number of research analysts have recently weighed in on SQ shares. Wells Fargo & Company lowered their price objective on Block from $95.00 to $85.00 and set an "overweight" rating on the stock in a research report on Friday, August 2nd. Keefe, Bruyette & Woods increased their price target on Block from $71.00 to $80.00 and gave the stock a "market perform" rating in a research note on Friday, November 8th. BNP Paribas lowered Block from an "outperform" rating to a "neutral" rating and set a $88.00 price objective for the company. in a research note on Wednesday, November 20th. Oppenheimer initiated coverage on Block in a research note on Tuesday, October 1st. They issued a "market perform" rating for the company. Finally, Needham & Company LLC boosted their price target on shares of Block from $80.00 to $90.00 and gave the stock a "buy" rating in a research note on Friday, November 8th. One analyst has rated the stock with a sell rating, seven have issued a hold rating and twenty-three have given a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $91.46.

Block Trading Up 0.2 %

Shares of SQ traded up $0.14 during trading on Wednesday, reaching $89.15. 4,001,849 shares of the company traded hands, compared to its average volume of 8,227,131. Block, Inc. has a twelve month low of $55.00 and a twelve month high of $94.12. The stock has a market cap of $55.26 billion, a PE ratio of 50.02, a price-to-earnings-growth ratio of 1.22 and a beta of 2.48. The stock has a 50-day simple moving average of $74.76 and a 200-day simple moving average of $68.32. The company has a quick ratio of 2.07, a current ratio of 2.07 and a debt-to-equity ratio of 0.26.

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.