Meeder Asset Management Inc. Sells 5,244 Shares of Block, Inc. (NYSE:SQ)

Meeder Asset Management Inc. lessened its position in shares of Block, Inc. (NYSE:SQ) by 13.1% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 34,864 shares of the technology company’s stock after selling 5,244 shares during the period. Meeder Asset Management Inc.’s holdings in Block were worth $2,340,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently made changes to their positions in the company. LRI Investments LLC acquired a new position in Block in the 1st quarter valued at $34,000. Unique Wealth Strategies LLC acquired a new position in shares of Block in the second quarter valued at about $34,000. V Square Quantitative Management LLC bought a new position in Block during the third quarter worth about $46,000. Migdal Insurance & Financial Holdings Ltd. acquired a new stake in Block in the 2nd quarter worth about $44,000. Finally, Hobbs Group Advisors LLC bought a new stake in Block in the 2nd quarter valued at about $49,000. Institutional investors and hedge funds own 70.44% of the company’s stock.

Insider Activity

In other Block news, insider Brian Grassadonia sold 1,884 shares of the company’s stock in a transaction on 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 transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CAO Ajmere Dale sold 1,406 shares of Block stock in a transaction dated Wednesday, August 21st. The shares were sold at an average price of $64.70, for a total transaction of $90,968.20. Following the transaction, the chief accounting officer now owns 90,960 shares of the company’s stock, valued at $5,885,112. This represents a 1.52 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 28,678 shares of company stock worth $1,924,112. Company insiders own 10.49% of the company’s stock.

Analyst Ratings Changes

SQ has been the topic of a number of recent research reports. Piper Sandler restated an “overweight” rating and set a $83.00 price objective on shares of Block in a research note on Monday, November 11th. Royal Bank of Canada reaffirmed an “outperform” rating and set a $88.00 price objective on shares of Block in a research report on Monday, October 21st. Benchmark reissued a “buy” rating and issued a $99.00 target price on shares of Block in a report on Friday, August 2nd. Oppenheimer assumed coverage on shares of Block in a report on Tuesday, October 1st. They set a “market perform” rating for the company. Finally, Canaccord Genuity Group lifted their price objective on shares of Block from $95.00 to $120.00 and gave the company a “buy” rating in a research note on Tuesday, November 12th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and twenty-four have given a buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $91.30.

Block Stock Up 7.8 %

Block stock opened at $90.84 on Tuesday. The company has a quick ratio of 2.07, a current ratio of 2.07 and a debt-to-equity ratio of 0.26. The company has a market capitalization of $56.30 billion, a PE ratio of 51.03, a PEG ratio of 1.14 and a beta of 2.48. The firm’s fifty day moving average is $71.53 and its 200 day moving average is $67.50. Block, Inc. has a 12-month low of $55.00 and a 12-month high of $91.83.

Block Company 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.