OVERSEA CHINESE BANKING Corp Ltd Sells 40,917 Shares of Block, Inc. (NYSE:SQ)

OVERSEA CHINESE BANKING Corp Ltd reduced its position in shares of Block, Inc. (NYSE:SQ) by 31.1% in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 90,527 shares of the technology company’s stock after selling 40,917 shares during the quarter. OVERSEA CHINESE BANKING Corp Ltd’s holdings in Block were worth $6,074,000 as of its most recent SEC filing.

A number of other large investors have also made changes to their positions in SQ. LRI Investments LLC purchased a new position in shares of Block during the 1st quarter valued at about $34,000. Unique Wealth Strategies LLC purchased a new stake in shares of Block during the 2nd quarter worth approximately $34,000. Migdal Insurance & Financial Holdings Ltd. purchased a new stake in shares of Block during the 2nd quarter worth approximately $44,000. V Square Quantitative Management LLC purchased a new stake in shares of Block during the 3rd quarter worth approximately $46,000. Finally, Hobbs Group Advisors LLC purchased a new stake in shares of Block during the 2nd quarter worth approximately $49,000. 70.44% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several analysts have recently issued reports on SQ shares. Needham & Company LLC upped their price objective on Block from $80.00 to $90.00 and gave the stock a “buy” rating in a report on Friday. UBS Group cut their target price on Block from $100.00 to $92.00 and set a “buy” rating on the stock in a research report on Tuesday, August 27th. Oppenheimer initiated coverage on Block in a research report on Tuesday, October 1st. They set a “market perform” rating on the stock. Keefe, Bruyette & Woods boosted their target price on Block from $71.00 to $80.00 and gave the company a “market perform” rating in a research report on Friday. Finally, New Street Research began coverage on Block in a research report on Monday, September 9th. They set a “neutral” rating and a $70.00 target price on the stock. One analyst has rated the stock with a sell rating, five have given a hold rating, twenty-three have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $90.37.

Insider Buying and Selling at Block

In other Block news, insider Brian Grassadonia sold 8,328 shares of the 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 completion of the sale, the insider now directly owns 580,086 shares in the company, valued at approximately $37,572,170.22. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other news, insider Brian Grassadonia sold 8,328 shares of the 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 transaction, the insider now directly owns 580,086 shares of the company’s stock, valued at approximately $37,572,170.22. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CAO Ajmere Dale sold 500 shares of the stock in a transaction dated Tuesday, October 1st. The shares were sold at an average price of $67.00, for a total value of $33,500.00. Following the completion of the transaction, the chief accounting officer now directly owns 90,460 shares in the company, valued at $6,060,820. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 24,714 shares of company stock worth $1,606,992. 10.49% of the stock is owned by insiders.

Block Trading Up 11.9 %

Block stock opened at $83.41 on Tuesday. The stock has a 50-day moving average of $68.86 and a two-hundred day moving average of $66.92. The company has a debt-to-equity ratio of 0.26, a quick ratio of 1.82 and a current ratio of 1.82. Block, Inc. has a one year low of $50.86 and a one year high of $87.52. The stock has a market cap of $51.35 billion, a PE ratio of 46.86, a price-to-earnings-growth ratio of 1.02 and a beta of 2.48.

Block Company 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.