2,245 Shares in Block, Inc. (NYSE:SQ) Purchased by Brooklyn Investment Group

Brooklyn Investment Group purchased a new position in shares of Block, Inc. (NYSE:SQ) during the third quarter, HoldingsChannel.com reports. The institutional investor purchased 2,245 shares of the technology company’s stock, valued at approximately $151,000.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in SQ. SouthState Corp boosted its holdings in Block by 85.3% in the 3rd quarter. SouthState Corp now owns 391 shares of the technology company’s stock valued at $26,000 after purchasing an additional 180 shares in the last quarter. LRI Investments LLC purchased a new stake in Block in the 1st quarter valued at approximately $34,000. Unique Wealth Strategies LLC purchased a new stake in Block in the 2nd quarter valued at approximately $34,000. Migdal Insurance & Financial Holdings Ltd. purchased a new stake in Block in the 2nd quarter valued at approximately $44,000. Finally, V Square Quantitative Management LLC purchased a new stake in Block in the 3rd quarter valued at approximately $46,000. Hedge funds and other institutional investors own 70.44% of the company’s stock.

Block Stock Down 0.3 %

Shares of Block stock opened at $88.77 on Thursday. The company has a fifty day moving average price of $75.20 and a 200 day moving average price of $68.47. The company has a current ratio of 2.07, a quick ratio of 2.07 and a debt-to-equity ratio of 0.26. 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 $55.02 billion, a price-to-earnings ratio of 49.87, a price-to-earnings-growth ratio of 1.22 and a beta of 2.48.

Analysts Set New Price Targets

A number of brokerages have weighed in on SQ. Piper Sandler reaffirmed an “overweight” rating and issued a $83.00 price objective on shares of Block in a report on Monday, November 11th. Canaccord Genuity Group lifted their price objective on Block from $95.00 to $120.00 and gave the stock a “buy” rating in a research report on Tuesday, November 12th. New Street Research assumed coverage on Block in a research report on Monday, September 9th. They set a “neutral” rating and a $70.00 price objective for the company. Oppenheimer assumed coverage on Block in a research report on Tuesday, October 1st. They set a “market perform” rating for the company. Finally, Keefe, Bruyette & Woods lifted their price objective on Block from $71.00 to $80.00 and gave the stock a “market perform” rating in a research report on Friday, November 8th. One equities research 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, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $91.46.

Insiders Place Their Bets

In related news, CFO Amrita Ahuja sold 6,661 shares of the stock in a transaction dated Thursday, November 21st. The shares were sold at an average price of $91.43, for a total transaction of $609,015.23. Following the sale, the chief financial officer now owns 246,967 shares in the company, valued at $22,580,192.81. This represents a 2.63 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 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 transaction of $33,500.00. Following the completion of the transaction, 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 position. The disclosure for this sale can be found here. Insiders have sold 29,053 shares of company stock worth $2,393,972 in the last quarter. 10.49% of the stock is owned by corporate insiders.

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.