Block, Inc. (NYSE:SQ) Shares Sold by Ghe LLC

Ghe LLC cut its stake in Block, Inc. (NYSE:SQ) by 75.2% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 5,170 shares of the technology company’s stock after selling 15,716 shares during the period. Ghe LLC’s holdings in Block were worth $347,000 as of its most recent SEC filing.

Other institutional investors have also recently bought and sold shares of the company. National Pension Service boosted its holdings in shares of Block by 13.5% in the 3rd quarter. National Pension Service now owns 1,083,113 shares of the technology company’s stock valued at $72,709,000 after purchasing an additional 128,832 shares during the last quarter. Baillie Gifford & Co. increased its stake in Block by 1.5% during the third quarter. Baillie Gifford & Co. now owns 10,233,102 shares of the technology company’s stock worth $686,948,000 after acquiring an additional 147,873 shares during the last quarter. Lone Pine Capital LLC raised its holdings 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. DekaBank Deutsche Girozentrale raised its holdings in shares of Block by 2.7% in the 3rd quarter. DekaBank Deutsche Girozentrale now owns 541,204 shares of the technology company’s stock worth $35,969,000 after purchasing an additional 14,163 shares during the period. Finally, Forsta AP Fonden grew its holdings in shares of Block by 11.5% during the 3rd quarter. Forsta AP Fonden now owns 115,900 shares of the technology company’s stock worth $7,780,000 after purchasing an additional 12,000 shares during the period. 70.44% of the stock is currently owned by hedge funds and other institutional investors.

Block Stock Performance

Shares of Block stock traded up $1.91 during trading on Wednesday, hitting $89.16. 2,616,024 shares of the stock were exchanged, compared to its average volume of 8,099,142. Block, Inc. has a 12 month low of $53.82 and a 12 month high of $90.00. The company has a debt-to-equity ratio of 0.26, a quick ratio of 2.07 and a current ratio of 2.07. The stock has a market cap of $54.89 billion, a PE ratio of 48.82, a P/E/G ratio of 1.11 and a beta of 2.48. The stock’s fifty day moving average is $69.21 and its 200 day moving average is $67.00.

Insider Activity

In other news, insider Brian Grassadonia sold 8,328 shares of the stock in a transaction on Wednesday, August 21st. The stock was sold at an average price of $64.77, for a total value of $539,404.56. Following the completion of the transaction, the insider now owns 580,086 shares of the company’s stock, valued at approximately $37,572,170.22. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. In other Block news, CFO Amrita Ahuja sold 6,661 shares of the stock in a transaction on Wednesday, August 21st. The stock was sold at an average price of $64.70, for a total transaction of $430,966.70. Following the completion of the transaction, the chief financial officer now directly owns 264,697 shares of the company’s stock, valued at approximately $17,125,895.90. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Brian Grassadonia sold 8,328 shares of the business’s stock in a transaction on Wednesday, August 21st. The stock was sold at an average price of $64.77, for a total value of $539,404.56. Following the completion of the sale, the insider now directly owns 580,086 shares in the company, valued at $37,572,170.22. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 24,714 shares of company stock valued at $1,606,992. Insiders own 10.49% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have issued reports on SQ shares. Keefe, Bruyette & Woods boosted their price objective on shares of Block from $71.00 to $80.00 and gave the stock a “market perform” rating in a research note on Friday, November 8th. William Blair upgraded Block to a “strong-buy” rating in a research note on Wednesday, July 31st. New Street Research began coverage on Block in a report on Monday, September 9th. They set a “neutral” rating and a $70.00 target price on the stock. Wells Fargo & Company decreased their price target on Block from $95.00 to $85.00 and set an “overweight” rating for the company in a report on Friday, August 2nd. Finally, Macquarie reiterated an “outperform” rating and set a $100.00 price objective on shares of Block in a research note on Friday, July 26th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating, twenty-three have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $91.30.

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.