Y Intercept Hong Kong Ltd Makes New $565,000 Investment in Block, Inc. (NYSE:SQ)

Y Intercept Hong Kong Ltd purchased a new stake in shares of Block, Inc. (NYSE:SQ - Free Report) in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund purchased 8,421 shares of the technology company's stock, valued at approximately $565,000.

Other large investors have also made changes to their positions in the company. SouthState Corp lifted its stake in Block by 85.3% in the third quarter. SouthState Corp now owns 391 shares of the technology company's stock valued at $26,000 after acquiring an additional 180 shares during the last quarter. True Wealth Design LLC raised its holdings in shares of Block by 64.7% during the 3rd quarter. True Wealth Design LLC now owns 494 shares of the technology company's stock valued at $33,000 after purchasing an additional 194 shares in the last quarter. Unique Wealth Strategies LLC acquired a new stake in shares of Block in the 2nd quarter valued at $34,000. Migdal Insurance & Financial Holdings Ltd. bought a new stake in Block in the second quarter worth $44,000. Finally, V Square Quantitative Management LLC bought a new stake in Block in the third quarter worth $46,000. Institutional investors own 70.44% of the company's stock.

Block Price Performance

Shares of Block stock traded down $2.13 during trading on Friday, hitting $91.98. 8,351,614 shares of the company's stock traded hands, compared to its average volume of 9,207,885. Block, Inc. has a twelve month low of $55.00 and a twelve month high of $99.26. The company has a debt-to-equity ratio of 0.26, a current ratio of 2.07 and a quick ratio of 2.07. The company has a market cap of $57.01 billion, a PE ratio of 51.67, a PEG ratio of 1.23 and a beta of 2.50. The firm's fifty day moving average price is $81.79 and its 200 day moving average price is $70.53.

Insider Activity

In other news, CAO Ajmere Dale sold 500 shares of the firm's stock in a transaction that occurred 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 owns 90,460 shares of the company's stock, valued at approximately $6,060,820. This trade represents a 0.55 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, insider Brian Grassadonia sold 8,328 shares of the business's stock in a transaction that occurred on Thursday, November 21st. The stock was sold at an average price of $91.18, for a total value of $759,347.04. Following the completion of the transaction, the insider now directly owns 563,894 shares in the company, valued at $51,415,854.92. The trade was a 1.46 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 31,918 shares of company stock worth $2,666,147. Company insiders own 10.49% of the company's stock.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on SQ shares. William Blair reaffirmed an "outperform" rating on shares of Block in a research report on Friday, November 15th. UBS Group reduced their target price on Block from $100.00 to $92.00 and set a "buy" rating for the company in a report on Tuesday, August 27th. Needham & Company LLC upped their target price on Block from $80.00 to $90.00 and gave the stock a "buy" rating in a research report on Friday, November 8th. Oppenheimer began coverage on shares of Block in a research report on Tuesday, October 1st. They issued a "market perform" rating on the stock. Finally, BNP Paribas downgraded shares of Block from an "outperform" rating to a "neutral" rating and set a $88.00 price objective for the company. in a report on Wednesday, November 20th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and twenty-four have given a buy rating to the stock. According to MarketBeat.com, Block presently has a consensus rating of "Moderate Buy" and an average target price of $94.75.

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.