Block, Inc. (NYSE:SQ) Shares Sold by Fisher Asset Management LLC

Fisher Asset Management LLC lessened its position in shares of Block, Inc. (NYSE:SQ) by 28.2% in the 3rd quarter, HoldingsChannel reports. The fund owned 8,470 shares of the technology company’s stock after selling 3,328 shares during the period. Fisher Asset Management LLC’s holdings in Block were worth $569,000 as of its most recent SEC filing.

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

Analyst Ratings Changes

A number of equities analysts recently issued reports on SQ shares. Piper Sandler reaffirmed an “overweight” rating and issued a $83.00 price target on shares of Block in a report on Monday, November 11th. Needham & Company LLC upped their target price on shares of Block from $80.00 to $90.00 and gave the company a “buy” rating in a report on Friday, November 8th. William Blair reaffirmed an “outperform” rating on shares of Block in a research report on Friday, November 15th. Keefe, Bruyette & Woods boosted their price target on shares of Block from $71.00 to $80.00 and gave the company a “market perform” rating in a research report on Friday, November 8th. Finally, Oppenheimer initiated coverage on Block in a report on Tuesday, October 1st. They set a “market perform” rating on the stock. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and twenty-three have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $91.46.

Block Stock Down 0.3 %

Block stock opened at $88.55 on Friday. The stock’s 50 day moving average price is $76.03 and its 200 day moving average price is $68.72. Block, Inc. has a 1-year low of $55.00 and a 1-year high of $94.12. The company has a market cap of $54.88 billion, a PE ratio of 49.75, a price-to-earnings-growth ratio of 1.20 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.

Insiders Place Their Bets

In related news, insider Brian Grassadonia sold 1,884 shares of the firm’s stock in a transaction that occurred on Wednesday, October 2nd. The stock was sold at an average price of $65.41, for a total value of $123,232.44. Following the completion of the transaction, the insider now directly owns 574,914 shares of the company’s stock, valued at $37,605,124.74. This trade represents a 0.33 % decrease in their position. The transaction was disclosed in a document filed with the SEC, 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 stock was sold at an average price of $67.00, for a total value of $33,500.00. Following the sale, the chief accounting officer now owns 90,460 shares in the company, valued at approximately $6,060,820. The trade was 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 have sold 29,053 shares of company stock worth $2,393,972. Corporate insiders own 10.49% of the company’s stock.

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.