Block, Inc. (NYSE:SQ) Shares Sold by UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC trimmed its holdings in Block, Inc. (NYSE:SQ) by 0.5% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 2,409,979 shares of the technology company’s stock after selling 12,440 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC owned about 0.39% of Block worth $161,782,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in SQ. Ribbit Management Company LLC boosted its stake in Block by 9.6% during the 3rd quarter. Ribbit Management Company LLC now owns 1,001,500 shares of the technology company’s stock valued at $67,231,000 after acquiring an additional 88,000 shares during the last quarter. Caz Investments LP increased its stake in Block by 100.0% during the third quarter. Caz Investments LP now owns 3,000 shares of the technology company’s stock valued at $198,000 after purchasing an additional 1,500 shares during the last quarter. Bridgewater Associates LP raised its holdings in shares of Block by 2,156.0% during the third quarter. Bridgewater Associates LP now owns 395,697 shares of the technology company’s stock worth $26,563,000 after purchasing an additional 378,157 shares during the period. Townsquare Capital LLC lifted its position in shares of Block by 192.5% in the 3rd quarter. Townsquare Capital LLC now owns 58,873 shares of the technology company’s stock worth $3,952,000 after buying an additional 38,748 shares during the last quarter. Finally, J. Stern & Co. LLP boosted its holdings in shares of Block by 103.4% in the 3rd quarter. J. Stern & Co. LLP now owns 33,447 shares of the technology company’s stock valued at $2,245,000 after buying an additional 17,002 shares during the period. 70.44% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research firms recently weighed in on SQ. Royal Bank of Canada reiterated an “outperform” rating and set a $88.00 price objective on shares of Block in a research note on Monday, October 21st. William Blair reissued an “outperform” rating on shares of Block in a report on Friday, November 15th. New Street Research assumed coverage on Block in a research note on Monday, September 9th. They set a “neutral” rating and a $70.00 price objective for the company. Canaccord Genuity Group raised their target price on Block from $95.00 to $120.00 and gave the company a “buy” rating in a research note on Tuesday, November 12th. Finally, UBS Group lowered their price target on shares of Block from $100.00 to $92.00 and set a “buy” rating for the company in a research report on Tuesday, August 27th. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and twenty-three have issued a buy rating to the company’s stock. Based on data from MarketBeat, Block has an average rating of “Moderate Buy” and an average price target of $91.46.

Block Stock Down 0.3 %

Shares of Block stock opened at $88.55 on Friday. 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 1 year low of $55.00 and a 1 year high of $94.12. The stock has a 50-day moving average price of $76.03 and a 200 day moving average price of $68.72. The company has a market cap of $54.88 billion, a P/E ratio of 49.75, a P/E/G ratio of 1.20 and a beta of 2.48.

Insider Activity

In related news, insider Brian Grassadonia sold 1,884 shares of Block 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 sale, the insider now owns 574,914 shares of the company’s stock, valued at approximately $37,605,124.74. This trade represents a 0.33 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Amrita Ahuja sold 6,661 shares of the business’s stock in a transaction that occurred on Thursday, November 21st. The shares were sold at an average price of $91.43, for a total value of $609,015.23. Following the completion of the sale, the chief financial officer now directly owns 246,967 shares of the company’s stock, valued at approximately $22,580,192.81. The trade was a 2.63 % 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 90 days. Company insiders own 10.49% of the company’s stock.

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.