Block, Inc. (NYSE:SQ) Shares Sold by Brown Brothers Harriman & Co.

Brown Brothers Harriman & Co. reduced its stake in shares of Block, Inc. (NYSE:SQ) by 89.0% during the 3rd quarter, according to its most recent filing with the SEC. The firm owned 1,555 shares of the technology company’s stock after selling 12,613 shares during the period. Brown Brothers Harriman & Co.’s holdings in Block were worth $104,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of SQ. DRW Securities LLC purchased a new stake in Block in the 3rd quarter worth approximately $398,000. Independent Advisor Alliance lifted its stake in shares of Block by 70.9% in the 3rd quarter. Independent Advisor Alliance now owns 12,601 shares of the technology company’s stock valued at $846,000 after purchasing an additional 5,226 shares during the period. Harvest Fund Management Co. Ltd purchased a new stake in Block during the third quarter worth $116,000. Douglass Winthrop Advisors LLC grew its position in Block by 4.1% during the third quarter. Douglass Winthrop Advisors LLC now owns 22,115 shares of the technology company’s stock valued at $1,485,000 after buying an additional 880 shares during the period. Finally, Summit Trail Advisors LLC purchased a new position in Block in the third quarter valued at $434,000. Hedge funds and other institutional investors own 70.44% of the company’s stock.

Block Stock Performance

Shares of Block stock opened at $88.78 on Friday. The business’s fifty day simple moving average is $75.61 and its 200-day simple moving average is $68.61. 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 firm has a market cap of $55.03 billion, a PE ratio of 49.88, a price-to-earnings-growth ratio of 1.22 and a beta of 2.48. Block, Inc. has a 52 week low of $55.00 and a 52 week high of $94.12.

Wall Street Analyst Weigh In

SQ has been the topic of several recent analyst reports. New Street Research initiated coverage on shares of Block in a research note on Monday, September 9th. They set a “neutral” rating and a $70.00 target price on the stock. Needham & Company LLC increased their price target on Block from $80.00 to $90.00 and gave the stock a “buy” rating in a research report on Friday, November 8th. William Blair restated an “outperform” rating on shares of Block in a research report on Friday, November 15th. Royal Bank of Canada reiterated an “outperform” rating and set a $88.00 target price on shares of Block in a research report on Monday, October 21st. Finally, Canaccord Genuity Group lifted their price target 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, seven have assigned a hold rating and twenty-three have given a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $91.46.

Insiders Place Their Bets

In other news, insider Brian Grassadonia sold 1,884 shares of the firm’s stock in a transaction on Wednesday, October 2nd. The stock was sold at an average price of $65.41, for a total transaction of $123,232.44. Following the completion of the transaction, the insider now directly owns 574,914 shares in the company, valued at $37,605,124.74. This trade represents a 0.33 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CAO Ajmere Dale sold 500 shares of Block stock in a transaction on Tuesday, October 1st. The shares were sold at an average price of $67.00, for a total value of $33,500.00. Following the completion of the sale, the chief accounting officer now directly owns 90,460 shares of the company’s stock, valued at $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. Insiders sold a total of 29,053 shares of company stock valued at $2,393,972 over the last 90 days. 10.49% of the stock is owned by company insiders.

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.