Block, Inc. (NYSE:SQ) Shares Sold by Raymond James Trust N.A.

Raymond James Trust N.A. lowered its position in shares of Block, Inc. (NYSE:SQ) by 36.5% in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 11,904 shares of the technology company’s stock after selling 6,855 shares during the period. Raymond James Trust N.A.’s holdings in Block were worth $799,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also made changes to their positions in the company. Baillie Gifford & Co. boosted its position in shares of Block by 1.5% during the 3rd quarter. Baillie Gifford & Co. now owns 10,233,102 shares of the technology company’s stock worth $686,948,000 after purchasing an additional 147,873 shares during the period. Lone Pine Capital LLC boosted its position in shares of Block by 13.9% during 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. Charles Schwab Investment Management Inc. boosted its position in shares of Block by 2.1% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 2,202,388 shares of the technology company’s stock worth $147,846,000 after purchasing an additional 45,472 shares during the period. Dimensional Fund Advisors LP boosted its position in shares of Block by 17.8% during the 2nd quarter. Dimensional Fund Advisors LP now owns 2,157,733 shares of the technology company’s stock worth $139,143,000 after purchasing an additional 326,444 shares during the period. Finally, D1 Capital Partners L.P. boosted its position in shares of Block by 76.7% during the 2nd quarter. D1 Capital Partners L.P. now owns 1,831,342 shares of the technology company’s stock worth $118,103,000 after purchasing an additional 795,000 shares during the period. Institutional investors and hedge funds own 70.44% of the company’s stock.

Insider Buying and Selling at Block

In other news, insider Brian Grassadonia sold 1,884 shares of the company’s stock in a transaction dated Wednesday, October 2nd. The shares were sold at an average price of $65.41, for a total value of $123,232.44. Following the completion of the sale, the insider now directly owns 574,914 shares of the company’s stock, valued at approximately $37,605,124.74. This represents a 0.33 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Chrysty Esperanza sold 2,964 shares of the company’s stock in a transaction dated Monday, November 11th. The shares were sold at an average price of $80.00, for a total transaction of $237,120.00. Following the completion of the sale, the insider now directly owns 88,607 shares of the company’s stock, valued at $7,088,560. The trade was a 3.24 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 12,283 shares of company stock worth $862,773. 10.49% of the stock is owned by company insiders.

Block Price Performance

Shares of NYSE:SQ opened at $92.26 on Monday. The company’s fifty day moving average price is $73.83 and its 200 day moving average price is $68.07. Block, Inc. has a 12 month low of $55.00 and a 12 month high of $94.12. The company has a debt-to-equity ratio of 0.26, a current ratio of 2.07 and a quick ratio of 2.07. The firm has a market capitalization of $57.18 billion, a P/E ratio of 51.83, a P/E/G ratio of 1.25 and a beta of 2.48.

Wall Street Analyst Weigh In

SQ has been the subject of a number of research analyst reports. William Blair reaffirmed an “outperform” rating on shares of Block in a research report on Friday, November 15th. Keefe, Bruyette & Woods raised their price target on shares of Block from $71.00 to $80.00 and gave the company a “market perform” rating in a research report on Friday, November 8th. Canaccord Genuity Group raised their price target on shares of Block from $95.00 to $120.00 and gave the company a “buy” rating in a research report on Tuesday, November 12th. UBS Group decreased 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. Finally, Morgan Stanley decreased their price target on shares of Block from $60.00 to $55.00 and set an “underweight” rating for the company in a research report on Tuesday, July 30th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and twenty-four have issued a buy rating to the stock. According to MarketBeat, Block has an average rating of “Moderate Buy” and a consensus price target of $91.18.

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.