Block, Inc. (NYSE:SQ) Position Trimmed by QRG Capital Management Inc.

QRG Capital Management Inc. trimmed its holdings in shares of Block, Inc. (NYSE:SQ) by 0.2% in the third quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 104,071 shares of the technology company’s stock after selling 235 shares during the period. QRG Capital Management Inc.’s holdings in Block were worth $6,986,000 as of its most recent SEC filing.

Other large investors have also recently added to or reduced their stakes in the company. Asset Management One Co. Ltd. lifted its position in shares of Block by 15.9% in the 3rd quarter. Asset Management One Co. Ltd. now owns 296,947 shares of the technology company’s stock valued at $19,934,000 after acquiring an additional 40,774 shares in the last quarter. National Pension Service lifted its position in shares of Block by 13.5% in the 3rd quarter. National Pension Service now owns 1,083,113 shares of the technology company’s stock valued at $72,709,000 after acquiring an additional 128,832 shares in the last quarter. KG&L Capital Management LLC purchased a new stake in shares of Block in the 3rd quarter valued at approximately $342,000. Van ECK Associates Corp lifted its position in shares of Block by 8.1% in the 3rd quarter. Van ECK Associates Corp now owns 418,522 shares of the technology company’s stock valued at $29,879,000 after acquiring an additional 31,404 shares in the last quarter. Finally, Harbor Capital Advisors Inc. lifted its position in shares of Block by 16.6% in the 3rd quarter. Harbor Capital Advisors Inc. now owns 7,895 shares of the technology company’s stock valued at $530,000 after acquiring an additional 1,123 shares in the last quarter. 70.44% of the stock is currently owned by institutional investors.

Insider Activity at Block

In related news, CAO Ajmere Dale sold 500 shares of Block stock in a transaction dated Tuesday, August 13th. The shares were sold at an average price of $61.88, for a total transaction of $30,940.00. Following the completion of the transaction, the chief accounting officer now directly owns 92,366 shares of the company’s stock, valued at $5,715,608.08. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. In other Block news, insider Brian Grassadonia sold 8,328 shares of the business’s stock in a transaction dated Wednesday, August 21st. The shares were sold at an average price of $64.77, for a total value of $539,404.56. Following the completion of the transaction, the insider now directly owns 580,086 shares of the company’s stock, valued at approximately $37,572,170.22. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CAO Ajmere Dale sold 500 shares of Block stock in a transaction that occurred on Tuesday, August 13th. The stock was sold at an average price of $61.88, for a total transaction of $30,940.00. Following the sale, the chief accounting officer now owns 92,366 shares of the company’s stock, valued at approximately $5,715,608.08. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 25,214 shares of company stock valued at $1,637,932 in the last ninety days. Insiders own 10.49% of the company’s stock.

Block Trading Down 0.4 %

Shares of SQ stock opened at $72.39 on Wednesday. Block, Inc. has a 12-month low of $48.15 and a 12-month high of $87.52. The company has a market capitalization of $44.57 billion, a P/E ratio of 56.55, a P/E/G ratio of 0.99 and a beta of 2.48. The firm has a 50-day moving average price of $68.26 and a 200 day moving average price of $66.88. The company has a quick ratio of 1.82, a current ratio of 1.82 and a debt-to-equity ratio of 0.26.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on SQ shares. William Blair upgraded shares of Block to a “strong-buy” rating in a research report on Wednesday, July 31st. BMO Capital Markets dropped their price target on shares of Block from $93.00 to $92.00 and set an “outperform” rating on the stock in a research note on Thursday, October 3rd. Macquarie restated an “outperform” rating and set a $100.00 price target on shares of Block in a research note on Friday, July 26th. Benchmark restated a “buy” rating and set a $99.00 price target on shares of Block in a research note on Friday, August 2nd. Finally, Deutsche Bank Aktiengesellschaft increased their price target on shares of Block from $90.00 to $98.00 and gave the stock a “buy” rating in a research note on Friday, July 12th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating, twenty-four have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $88.79.

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.