Block, Inc. (NYSE:SQ) Shares Acquired by National Bank of Canada FI

National Bank of Canada FI lifted its stake in shares of Block, Inc. (NYSE:SQ) by 28.6% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 48,074 shares of the technology company’s stock after buying an additional 10,679 shares during the period. National Bank of Canada FI’s holdings in Block were worth $3,227,000 at the end of the most recent quarter.

Other large investors have also recently made changes to their positions in the company. Baillie Gifford & Co. raised its position in 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 buying an additional 147,873 shares during the last quarter. Lone Pine Capital LLC increased its stake in shares of Block by 13.9% in the second quarter. Lone Pine Capital LLC now owns 7,670,523 shares of the technology company’s stock worth $494,672,000 after acquiring an additional 934,588 shares during the period. Charles Schwab Investment Management Inc. raised its holdings in shares of Block by 2.1% during the third 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 last quarter. Dimensional Fund Advisors LP lifted its position in Block by 17.8% during the second quarter. Dimensional Fund Advisors LP now owns 2,157,733 shares of the technology company’s stock valued at $139,143,000 after purchasing an additional 326,444 shares during the period. Finally, D1 Capital Partners L.P. boosted its holdings in Block by 76.7% in the second quarter. D1 Capital Partners L.P. now owns 1,831,342 shares of the technology company’s stock valued at $118,103,000 after purchasing an additional 795,000 shares during the last quarter. 70.44% of the stock is owned by hedge funds and other institutional investors.

Block Trading Down 2.3 %

SQ opened at $91.96 on Friday. The business’s 50 day moving average price is $81.79 and its 200 day moving average price is $70.50. 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 capitalization of $57.00 billion, a PE ratio of 51.66, a P/E/G ratio of 1.31 and a beta of 2.50. Block, Inc. has a one year low of $55.00 and a one year high of $99.26.

Insider Activity

In other Block news, CAO Ajmere Dale sold 500 shares of the business’s stock in a transaction that occurred on Tuesday, October 1st. The stock was sold at an average price of $67.00, for a total value of $33,500.00. Following the sale, the chief accounting officer now 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, 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 value of $123,232.44. Following the transaction, the insider now 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 disclosure for this sale can be found here. Insiders have sold a total of 31,918 shares of company stock valued at $2,666,147 in the last quarter. Insiders own 10.49% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have weighed in on the company. Canaccord Genuity Group lifted their price objective on Block from $95.00 to $120.00 and gave the company a “buy” rating in a research note on Tuesday, November 12th. Macquarie boosted their price target on Block from $100.00 to $110.00 and gave the company an “outperform” rating in a report on Tuesday. Piper Sandler reaffirmed an “overweight” rating and set a $83.00 target price on shares of Block in a report on Monday, November 11th. Oppenheimer started coverage on shares of Block in a report on Tuesday, October 1st. They set a “market perform” rating on the stock. Finally, William Blair restated an “outperform” rating on shares of Block in a research report on Friday, November 15th. One research analyst has rated the stock with a sell rating, six have given a hold rating and twenty-four have issued a buy rating to the company’s stock. According to MarketBeat.com, Block currently has a consensus rating of “Moderate Buy” and a consensus target price of $94.75.

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.