Block, Inc. (NYSE:SQ) Shares Sold by Mitsubishi UFJ Trust & Banking Corp

Mitsubishi UFJ Trust & Banking Corp reduced its position in Block, Inc. (NYSE:SQFree Report) by 2.0% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 433,168 shares of the technology company’s stock after selling 8,919 shares during the period. Mitsubishi UFJ Trust & Banking Corp’s holdings in Block were worth $19,172,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of the company. Mn Services Vermogensbeheer B.V. raised its holdings in shares of Block by 1.5% during the 3rd quarter. Mn Services Vermogensbeheer B.V. now owns 261,300 shares of the technology company’s stock valued at $11,565,000 after buying an additional 3,900 shares during the period. Clearbridge Investments LLC purchased a new stake in Block during the 2nd quarter worth approximately $73,724,000. Dragoneer Investment Group LLC increased its holdings in Block by 50.5% during the 2nd quarter. Dragoneer Investment Group LLC now owns 4,685,391 shares of the technology company’s stock worth $311,906,000 after purchasing an additional 1,572,356 shares during the last quarter. Hyperion Asset Management Ltd increased its holdings in Block by 7.7% during the 2nd quarter. Hyperion Asset Management Ltd now owns 1,776,345 shares of the technology company’s stock worth $118,251,000 after purchasing an additional 127,370 shares during the last quarter. Finally, Lane Generational LLC increased its holdings in Block by 40.5% during the 3rd quarter. Lane Generational LLC now owns 72,094 shares of the technology company’s stock worth $3,191,000 after purchasing an additional 20,796 shares during the last quarter. 61.17% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on the company. CLSA upgraded Block from a “sell” rating to an “outperform” rating and set a $57.00 price objective on the stock in a report on Monday, November 6th. Mizuho boosted their price objective on Block from $90.00 to $99.00 and gave the company a “buy” rating in a research report on Tuesday, December 12th. Royal Bank of Canada reduced their price objective on Block from $90.00 to $77.00 and set an “outperform” rating for the company in a research report on Friday, November 3rd. Canaccord Genuity Group reduced their price objective on Block from $90.00 to $80.00 and set a “buy” rating for the company in a research report on Friday, November 3rd. Finally, BTIG Research upgraded Block from a “neutral” rating to a “buy” rating and set a $85.00 price objective for the company in a research report on Tuesday, January 30th. Seven investment analysts have rated the stock with a hold rating and twenty-four have issued a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $76.87.

Get Our Latest Analysis on Block

Insider Activity at Block

In other Block news, insider Brian Grassadonia sold 5,652 shares of the business’s stock in a transaction dated Thursday, January 4th. The stock was sold at an average price of $68.00, for a total value of $384,336.00. Following the transaction, the insider now owns 280,208 shares in the company, valued at $19,054,144. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, CAO Ajmere Dale sold 630 shares of the company’s stock in a transaction dated Tuesday, November 21st. The stock was sold at an average price of $58.51, for a total transaction of $36,861.30. Following the completion of the sale, the chief accounting officer now owns 71,504 shares in the company, valued at approximately $4,183,699.04. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, insider Brian Grassadonia sold 5,652 shares of the company’s stock in a transaction dated Thursday, January 4th. The stock was sold at an average price of $68.00, for a total value of $384,336.00. Following the sale, the insider now owns 280,208 shares of the company’s stock, valued at approximately $19,054,144. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 33,302 shares of company stock valued at $2,258,303. Company insiders own 10.79% of the company’s stock.

Block Stock Down 2.8 %

NYSE:SQ opened at $66.88 on Monday. The firm has a market capitalization of $41.07 billion, a price-to-earnings ratio of -142.30, a PEG ratio of 2.05 and a beta of 2.53. Block, Inc. has a 1-year low of $38.85 and a 1-year high of $83.08. The company has a current ratio of 1.91, a quick ratio of 1.91 and a debt-to-equity ratio of 0.23. The business’s fifty day moving average price is $69.66 and its 200 day moving average price is $59.34.

Block Company Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Block (NYSE:SQ)

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