Block, Inc. (NYSE:SQ) Shares Bought by Swiss National Bank

Swiss National Bank increased its stake in Block, Inc. (NYSE:SQ) by 0.5% in the third quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 1,651,886 shares of the technology company’s stock after buying an additional 8,200 shares during the quarter. Swiss National Bank owned about 0.27% of Block worth $110,891,000 as of its most recent filing with the SEC.

A number of other large investors have also modified their holdings of the stock. LRI Investments LLC bought a new position in Block during the 1st quarter worth approximately $34,000. Unique Wealth Strategies LLC bought a new position in Block during the 2nd quarter worth approximately $34,000. V Square Quantitative Management LLC bought a new position in Block during the 3rd quarter worth approximately $46,000. Migdal Insurance & Financial Holdings Ltd. bought a new position in Block during the 2nd quarter worth approximately $44,000. Finally, Hobbs Group Advisors LLC bought a new position in Block during the 2nd quarter worth approximately $49,000. Institutional investors and hedge funds own 70.44% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have commented on the company. BMO Capital Markets reduced their target price on Block from $93.00 to $92.00 and set an “outperform” rating on the stock in a report on Thursday, October 3rd. New Street Research began coverage on Block in a report on Monday, September 9th. They issued a “neutral” rating and a $70.00 price target on the stock. Oppenheimer began coverage on Block in a report on Tuesday, October 1st. They issued a “market perform” rating on the stock. Benchmark reissued a “buy” rating and issued a $99.00 price target on shares of Block in a report on Friday, August 2nd. Finally, Piper Sandler reissued an “overweight” rating and issued a $83.00 price target on shares of Block in a report on Monday, November 11th. One analyst has rated the stock with a sell rating, five have given a hold rating and twenty-four have assigned a buy rating to the stock. According to MarketBeat.com, Block has a consensus rating of “Moderate Buy” and a consensus target price of $91.30.

Block Stock Performance

SQ stock opened at $90.84 on Tuesday. The business’s fifty day moving average is $71.53 and its 200-day moving average is $67.50. 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 company has a market cap of $55.93 billion, a P/E ratio of 51.03, a price-to-earnings-growth ratio of 1.14 and a beta of 2.48. Block, Inc. has a twelve month low of $55.00 and a twelve month high of $91.83.

Insider Activity

In other Block news, insider Brian Grassadonia sold 8,328 shares of Block stock in a transaction dated Wednesday, August 21st. The stock was sold at an average price of $64.77, for a total value of $539,404.56. Following the sale, the insider now owns 580,086 shares of the company’s stock, valued at $37,572,170.22. This trade represents a 1.42 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Chrysty Esperanza sold 2,964 shares of the firm’s stock in a transaction dated Monday, November 11th. The shares were sold at an average price of $80.00, for a total value of $237,120.00. Following the completion of the transaction, the insider now owns 88,607 shares of the company’s stock, valued at $7,088,560. The trade was a 3.24 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 28,678 shares of company stock valued at $1,924,112 in the last 90 days. 10.49% of the stock is owned by company insiders.

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.