Block, Inc. (NYSE:SQ) Stake Reduced by Sumitomo Mitsui Trust Group Inc.

Sumitomo Mitsui Trust Group Inc. decreased its position in shares of Block, Inc. (NYSE:SQ) by 10.3% in the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 7,882,071 shares of the technology company’s stock after selling 907,670 shares during the quarter. Sumitomo Mitsui Trust Group Inc. owned about 1.28% of Block worth $529,123,000 as of its most recent filing with the SEC.

A number of other hedge funds also recently made changes to their positions in SQ. Baillie Gifford & Co. lifted its position in shares of Block by 1.5% during the 3rd quarter. Baillie Gifford & Co. now owns 10,233,102 shares of the technology company’s stock valued at $686,948,000 after acquiring an additional 147,873 shares during the last quarter. Apollon Wealth Management LLC grew its stake in Block by 9.0% during the 3rd quarter. Apollon Wealth Management LLC now owns 9,392 shares of the technology company’s stock valued at $630,000 after acquiring an additional 773 shares in the last quarter. Nations Financial Group Inc. IA ADV grew its position in Block by 1.9% during the third quarter. Nations Financial Group Inc. IA ADV now owns 7,744 shares of the technology company’s stock valued at $520,000 after purchasing an additional 145 shares in the last quarter. Ashton Thomas Securities LLC increased its stake in shares of Block by 10.7% in the third quarter. Ashton Thomas Securities LLC now owns 4,608 shares of the technology company’s stock worth $309,000 after acquiring an additional 445 shares during the last quarter. Finally, Los Angeles Capital Management LLC boosted its position in Block by 1.7% during the third quarter. Los Angeles Capital Management LLC now owns 276,836 shares of the technology company’s stock valued at $18,584,000 after purchasing an additional 4,525 shares during the last quarter. Institutional investors own 70.44% of the company’s stock.

Insider Buying and Selling

In related news, CAO Ajmere Dale sold 1,406 shares of the company’s stock in a transaction dated 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 $5,885,112. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In related news, CFO Amrita Ahuja sold 5,935 shares of the stock in a transaction dated Wednesday, October 2nd. The stock was sold at an average price of $65.53, for a total transaction of $388,920.55. Following the transaction, the chief financial officer now owns 255,496 shares of the company’s stock, valued at approximately $16,742,652.88. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CAO Ajmere Dale sold 1,406 shares of the firm’s stock in a transaction that occurred 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 sale, the chief accounting officer now directly owns 90,960 shares in the company, valued at approximately $5,885,112. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 24,714 shares of company stock valued at $1,606,992. Corporate insiders own 10.49% of the company’s stock.

Analyst Upgrades and Downgrades

SQ has been the subject of several recent analyst reports. Benchmark restated a “buy” rating and set a $99.00 target price on shares of Block in a research note on Friday, August 2nd. Royal Bank of Canada reissued an “outperform” rating and set a $88.00 price target on shares of Block in a research note on Monday, October 21st. Oppenheimer started coverage on Block in a research report on Tuesday, October 1st. They issued a “market perform” rating on the stock. Macquarie restated an “outperform” rating and set a $100.00 target price on shares of Block in a report on Friday, July 26th. Finally, BMO Capital Markets decreased their target price on shares of Block from $93.00 to $92.00 and set an “outperform” rating for the company in a research report on Thursday, October 3rd. One research analyst has rated the stock with a sell rating, five have issued a hold rating, twenty-three have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $90.37.

Block Stock Performance

Shares of SQ stock opened at $83.41 on Tuesday. The company has a debt-to-equity ratio of 0.26, a current ratio of 1.82 and a quick ratio of 1.82. The business has a fifty day moving average of $69.21 and a 200 day moving average of $67.00. The firm has a market capitalization of $51.35 billion, a price-to-earnings ratio of 46.86, a price-to-earnings-growth ratio of 1.02 and a beta of 2.48. Block, Inc. has a 1 year low of $50.86 and a 1 year high of $87.52.

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.