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

National Bank of Canada FI increased its stake in shares of Block, Inc. (NYSE:SQ) by 28.6% in the 3rd quarter, HoldingsChannel reports. The firm owned 48,074 shares of the technology company’s stock after purchasing an additional 10,679 shares during the period. National Bank of Canada FI’s holdings in Block were worth $3,227,000 as of its most recent SEC filing.

Several other large investors also recently bought and sold shares of the stock. Baillie Gifford & Co. grew its position in shares of Block by 1.5% during the third 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 in the last quarter. Lone Pine Capital LLC grew its holdings in 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 acquiring an additional 934,588 shares in the last quarter. Charles Schwab Investment Management Inc. increased its position in shares of Block by 2.1% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 2,202,388 shares of the technology company’s stock valued at $147,846,000 after purchasing an additional 45,472 shares during the last quarter. Dimensional Fund Advisors LP increased its position in shares of Block by 17.8% in the 2nd 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 last quarter. Finally, D1 Capital Partners L.P. grew its stake in shares of Block by 76.7% during the second 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 in the last quarter. Hedge funds and other institutional investors own 70.44% of the company’s stock.

Block Stock Down 2.3 %

SQ opened at $91.96 on Friday. Block, Inc. has a 12 month low of $55.00 and a 12 month high of $99.26. 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 business has a 50 day simple moving average of $81.79 and a 200-day simple moving average of $70.50. The stock has a market capitalization of $57.00 billion, a P/E ratio of 51.66, a P/E/G ratio of 1.31 and a beta of 2.50.

Insider Transactions at Block

In related news, insider Chrysty Esperanza sold 2,865 shares of the company’s stock in a transaction that occurred on Monday, December 2nd. The stock was sold at an average price of $95.00, for a total value of $272,175.00. Following the sale, the insider now owns 85,235 shares in the company, valued at $8,097,325. This represents a 3.25 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider Brian Grassadonia sold 8,328 shares of the business’s stock in a transaction on Thursday, November 21st. The stock was sold at an average price of $91.18, for a total value of $759,347.04. Following the sale, the insider now owns 563,894 shares in the company, valued at approximately $51,415,854.92. The trade was a 1.46 % 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 ninety days. 10.49% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on the company. Monness Crespi & Hardt raised Block from a “neutral” rating to a “buy” rating and set a $115.00 price target for the company in a report on Friday. Canaccord Genuity Group upped their target price on shares of Block from $95.00 to $120.00 and gave the company a “buy” rating in a report on Tuesday, November 12th. Macquarie lifted their price target on shares of Block from $100.00 to $110.00 and gave the stock an “outperform” rating in a research note on Tuesday. The Goldman Sachs Group boosted their price target on shares of Block from $87.00 to $102.00 and gave the company a “buy” rating in a research report on Monday, December 2nd. Finally, Royal Bank of Canada reaffirmed an “outperform” rating and set a $88.00 price objective on shares of Block in a report on Monday, October 21st. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and twenty-four have given a buy rating to the company. According to data from MarketBeat.com, Block currently has an average rating of “Moderate Buy” and an average price target 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.