Block, Inc. (NYSE:SQ) Shares Sold by Harbour Investments Inc.

Harbour Investments Inc. lowered its position in shares of Block, Inc. (NYSE:SQ) by 0.9% in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 25,065 shares of the technology company’s stock after selling 231 shares during the period. Harbour Investments Inc.’s holdings in Block were worth $1,683,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also recently made changes to their positions in the company. LRI Investments LLC purchased a new position in Block in the first quarter worth approximately $34,000. Unique Wealth Strategies LLC acquired a new position in shares of Block in the 2nd quarter valued at $34,000. Migdal Insurance & Financial Holdings Ltd. purchased a new position in shares of Block during the 2nd quarter worth $44,000. V Square Quantitative Management LLC acquired a new stake in shares of Block during the 3rd quarter worth about $46,000. Finally, Hobbs Group Advisors LLC purchased a new stake in Block in the 2nd quarter valued at about $49,000. Hedge funds and other institutional investors own 70.44% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have weighed in on the stock. Keefe, Bruyette & Woods increased their target price on shares of Block from $71.00 to $80.00 and gave the stock a “market perform” rating in a research note on Friday, November 8th. Wells Fargo & Company dropped their target price on shares of Block from $95.00 to $85.00 and set an “overweight” rating for the company in a report on Friday, August 2nd. Oppenheimer assumed coverage on Block in a research report on Tuesday, October 1st. They issued a “market perform” rating on the stock. Benchmark reaffirmed a “buy” rating and issued a $99.00 price objective on shares of Block in a research note on Friday, August 2nd. Finally, Canaccord Genuity Group boosted their price objective on Block from $95.00 to $120.00 and gave the company a “buy” rating in a report on Tuesday. One research analyst has rated the stock with a sell rating, five have given a hold rating, twenty-three have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat, Block presently has an average rating of “Moderate Buy” and a consensus target price of $91.30.

Insider Activity at Block

In other Block news, CAO Ajmere Dale sold 1,406 shares of the firm’s stock in a transaction dated Wednesday, August 21st. The stock was sold at an average price of $64.70, for a total transaction of $90,968.20. Following the transaction, the chief accounting officer now owns 90,960 shares of the company’s stock, valued at approximately $5,885,112. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In related news, insider Brian Grassadonia sold 8,328 shares of the stock in a transaction on Wednesday, August 21st. The shares were sold at an average price of $64.77, for a total transaction of $539,404.56. Following the completion of the sale, the insider now owns 580,086 shares in the company, valued at $37,572,170.22. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CAO Ajmere Dale sold 1,406 shares of Block stock in a transaction on Wednesday, August 21st. The shares were sold at an average price of $64.70, for a total transaction of $90,968.20. Following the completion of the transaction, the chief accounting officer now owns 90,960 shares in the company, valued at approximately $5,885,112. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 28,678 shares of company stock valued at $1,924,112 over the last ninety days. Insiders own 10.49% of the company’s stock.

Block Trading Down 1.6 %

Shares of Block stock opened at $85.82 on Thursday. The company has a current ratio of 2.07, a quick ratio of 2.07 and a debt-to-equity ratio of 0.26. The company has a fifty day simple moving average of $69.67 and a 200-day simple moving average of $67.09. The stock has a market cap of $52.84 billion, a price-to-earnings ratio of 48.21, a PEG ratio of 1.18 and a beta of 2.48. Block, Inc. has a 12-month low of $53.82 and a 12-month high of $90.00.

About Block

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.