Block, Inc. (NYSE:SQ) Stake Boosted by Quintet Private Bank Europe S.A.

Quintet Private Bank Europe S.A. grew its position in Block, Inc. (NYSE:SQ) by 13.8% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,351 shares of the technology company’s stock after purchasing an additional 164 shares during the period. Quintet Private Bank Europe S.A.’s holdings in Block were worth $91,000 at the end of the most recent quarter.

Other hedge funds also recently bought and sold shares of the company. LRI Investments LLC acquired a new position in Block in the 1st quarter worth about $34,000. Unique Wealth Strategies LLC bought a new stake in shares of Block during the 2nd quarter worth about $34,000. V Square Quantitative Management LLC bought a new stake in shares of Block during the 3rd quarter worth about $46,000. Migdal Insurance & Financial Holdings Ltd. bought a new stake in shares of Block during the 2nd quarter worth about $44,000. Finally, Hobbs Group Advisors LLC bought a new stake in Block during the 2nd quarter valued at approximately $49,000. 70.44% of the stock is owned by institutional investors and hedge funds.

Block Trading Up 0.7 %

Shares of Block stock opened at $72.69 on Tuesday. The business has a fifty day simple moving average of $68.15 and a two-hundred day simple moving average of $66.86. Block, Inc. has a 1 year low of $48.15 and a 1 year high of $87.52. The company has a market capitalization of $44.75 billion, a price-to-earnings ratio of 56.79, a P/E/G ratio of 0.99 and a beta of 2.48. The company has a debt-to-equity ratio of 0.26, a current ratio of 1.82 and a quick ratio of 1.82.

Insider Buying and Selling at Block

In other Block news, CAO Ajmere Dale sold 500 shares of the stock in a transaction on Tuesday, August 13th. The stock was sold at an average price of $61.88, for a total transaction of $30,940.00. Following the transaction, the chief accounting officer now owns 92,366 shares in the company, valued at $5,715,608.08. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other Block news, CAO Ajmere Dale sold 500 shares of the stock in a transaction on Tuesday, August 13th. The stock was sold at an average price of $61.88, for a total transaction of $30,940.00. Following the transaction, the chief accounting officer now owns 92,366 shares in the company, valued at $5,715,608.08. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, 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 transaction, the insider now owns 580,086 shares in the company, valued at $37,572,170.22. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 25,214 shares of company stock valued at $1,637,932 in the last quarter. 10.49% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

SQ has been the subject of a number of research reports. Wells Fargo & Company reduced their price objective on Block from $95.00 to $85.00 and set an “overweight” rating for the company in a research report on Friday, August 2nd. New Street Research initiated coverage on shares of Block in a research note on Monday, September 9th. They issued a “neutral” rating and a $70.00 target price for the company. Morgan Stanley decreased their price target on Block from $60.00 to $55.00 and set an “underweight” rating on the stock in a report on Tuesday, July 30th. Benchmark reissued a “buy” rating and set a $99.00 price objective on shares of Block in a report on Friday, August 2nd. Finally, Royal Bank of Canada reaffirmed an “outperform” rating and issued a $88.00 price target on shares of Block in a research note on Monday, October 21st. One analyst has rated the stock with a sell rating, five have assigned a hold rating, twenty-four have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $88.79.

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.