Quintet Private Bank Europe S.A. Has $91,000 Stock Position in Block, Inc. (NYSE:SQ)

Quintet Private Bank Europe S.A. increased its stake in Block, Inc. (NYSE:SQ) by 13.8% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 1,351 shares of the technology company’s stock after acquiring an additional 164 shares during the quarter. Quintet Private Bank Europe S.A.’s holdings in Block were worth $91,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Asset Management One Co. Ltd. lifted its stake in shares of Block by 15.9% in the third quarter. Asset Management One Co. Ltd. now owns 296,947 shares of the technology company’s stock worth $19,934,000 after acquiring an additional 40,774 shares during the period. National Pension Service lifted its stake in shares of Block by 13.5% in the third quarter. National Pension Service now owns 1,083,113 shares of the technology company’s stock worth $72,709,000 after acquiring an additional 128,832 shares during the period. KG&L Capital Management LLC bought a new stake in Block in the third quarter worth approximately $342,000. Van ECK Associates Corp increased its holdings in Block by 8.1% in the third quarter. Van ECK Associates Corp now owns 418,522 shares of the technology company’s stock worth $29,879,000 after purchasing an additional 31,404 shares in the last quarter. Finally, Harbor Capital Advisors Inc. increased its holdings in Block by 16.6% in the third quarter. Harbor Capital Advisors Inc. now owns 7,895 shares of the technology company’s stock worth $530,000 after purchasing an additional 1,123 shares in the last quarter. 70.44% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on SQ. Benchmark reiterated a “buy” rating and issued a $99.00 target price on shares of Block in a report on Friday, August 2nd. Oppenheimer assumed coverage on Block in a report on Tuesday, October 1st. They issued a “market perform” rating for the company. Wells Fargo & Company decreased their price objective on Block from $95.00 to $85.00 and set an “overweight” rating for the company in a report on Friday, August 2nd. New Street Research assumed coverage on Block in a report on Monday, September 9th. They set a “neutral” rating and a $70.00 price objective for the company. Finally, William Blair upgraded Block to a “strong-buy” rating in a report on Wednesday, July 31st. One research analyst has rated the stock with a sell rating, five have given a hold rating, twenty-four have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $88.79.

Block Trading Up 0.7 %

Shares of SQ opened at $72.69 on Tuesday. The business has a 50-day moving average of $68.15 and a 200 day moving average of $66.86. Block, Inc. has a fifty-two week low of $48.15 and a fifty-two week high of $87.52. The firm has a market cap of $44.75 billion, a P/E ratio of 56.79, a price-to-earnings-growth ratio of 0.99 and a beta of 2.48. The company has a debt-to-equity ratio of 0.26, a quick ratio of 1.82 and a current ratio of 1.82.

Insider Buying and Selling

In related news, CAO Ajmere Dale sold 500 shares of Block stock in a transaction dated Tuesday, August 13th. The stock was sold at an average price of $61.88, for a total value of $30,940.00. Following the completion of the sale, the chief accounting officer now owns 92,366 shares of the company’s stock, valued at approximately $5,715,608.08. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other Block news, CAO Ajmere Dale sold 500 shares of Block stock in a transaction dated Tuesday, August 13th. The stock was 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 owns 92,366 shares of the company’s stock, valued at $5,715,608.08. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CFO Amrita Ahuja sold 6,661 shares of Block stock in a transaction dated Wednesday, August 21st. The shares were sold at an average price of $64.70, for a total value of $430,966.70. Following the transaction, the chief financial officer now directly owns 264,697 shares of the company’s stock, valued at $17,125,895.90. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 25,214 shares of company stock valued at $1,637,932. 10.49% of the stock is owned by insiders.

Block 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.