Rosenberg Matthew Hamilton Increases Stake in Block, Inc. (NYSE:SQ)

Rosenberg Matthew Hamilton grew its position in Block, Inc. (NYSE:SQ) by 18.3% in the 4th quarter, Holdings Channel reports. The institutional investor owned 982 shares of the technology company’s stock after purchasing an additional 152 shares during the quarter. Rosenberg Matthew Hamilton’s holdings in Block were worth $83,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Baillie Gifford & Co. raised its holdings in Block by 1.5% in the 3rd quarter. Baillie Gifford & Co. now owns 10,233,102 shares of the technology company’s stock worth $686,948,000 after acquiring an additional 147,873 shares during the last quarter. Geode Capital Management LLC increased its holdings in shares of Block by 1.6% in the 3rd quarter. Geode Capital Management LLC now owns 8,690,075 shares of the technology company’s stock worth $581,923,000 after purchasing an additional 133,002 shares in the last quarter. Lone Pine Capital LLC increased its holdings in shares of Block by 13.9% in the 2nd quarter. Lone Pine Capital LLC now owns 7,670,523 shares of the technology company’s stock worth $494,672,000 after purchasing an additional 934,588 shares in the last quarter. Charles Schwab Investment Management Inc. raised its stake in shares of Block by 2.1% in the third quarter. Charles Schwab Investment Management Inc. now owns 2,202,388 shares of the technology company’s stock worth $147,846,000 after purchasing an additional 45,472 shares during the last quarter. Finally, Dimensional Fund Advisors LP lifted its holdings in shares of Block by 17.8% during the second 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 in the last quarter. Institutional investors own 70.44% of the company’s stock.

Analyst Upgrades and Downgrades

SQ has been the subject of a number of recent analyst reports. The Goldman Sachs Group boosted their target price on Block from $87.00 to $102.00 and gave the stock a “buy” rating in a research report on Monday, December 2nd. Macquarie boosted their price objective on shares of Block from $100.00 to $110.00 and gave the company an “outperform” rating in a report on Tuesday, December 10th. William Blair restated an “outperform” rating on shares of Block in a research report on Friday, November 15th. Morgan Stanley lifted their target price on shares of Block from $60.00 to $65.00 and gave the stock an “underweight” rating in a research report on Wednesday, December 18th. Finally, Citigroup increased their price target on Block from $90.00 to $108.00 and gave the company a “buy” rating in a report on Tuesday. One analyst has rated the stock with a sell rating, five have assigned a hold rating and twenty-seven have given a buy rating to the company’s stock. According to MarketBeat, Block has an average rating of “Moderate Buy” and an average target price of $97.35.

Block Stock Up 0.5 %

Shares of SQ stock opened at $82.45 on Wednesday. The company has a debt-to-equity ratio of 0.26, a current ratio of 2.07 and a quick ratio of 2.07. Block, Inc. has a one year low of $55.00 and a one year high of $99.26. The company’s fifty day moving average price is $88.99 and its 200-day moving average price is $74.36. The company has a market capitalization of $51.10 billion, a price-to-earnings ratio of 46.32, a PEG ratio of 1.23 and a beta of 2.51.

Insiders Place Their Bets

In other Block news, CAO Ajmere Dale sold 1,000 shares of the company’s stock in a transaction that occurred on Monday, November 11th. The stock was sold at an average price of $80.00, for a total value of $80,000.00. Following the completion of the transaction, the chief accounting officer now directly owns 88,791 shares in the company, valued at $7,103,280. This represents a 1.11 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CFO Amrita Ahuja sold 1,502 shares of Block stock in a transaction that occurred on Thursday, January 2nd. The shares were sold at an average price of $86.52, for a total transaction of $129,953.04. Following the sale, the chief financial officer now owns 242,199 shares in the company, valued at approximately $20,955,057.48. The trade was a 0.62 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 29,981 shares of company stock worth $2,681,185. Corporate insiders own 10.49% of the company’s stock.

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.