Sigma Planning Corp Sells 1,219 Shares of Block, Inc. (NYSE:SQ)

Sigma Planning Corp decreased its position in Block, Inc. (NYSE:SQ) by 8.9% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 12,459 shares of the technology company’s stock after selling 1,219 shares during the quarter. Sigma Planning Corp’s holdings in Block were worth $836,000 at the end of the most recent quarter.

A number of other institutional investors have also added to or reduced their stakes in SQ. LRI Investments LLC bought a new position in shares of Block during the first quarter valued at $34,000. Unique Wealth Strategies LLC bought a new position in shares of Block during the second quarter valued at $34,000. Migdal Insurance & Financial Holdings Ltd. bought a new position in shares of Block during the second quarter valued at $44,000. V Square Quantitative Management LLC bought a new position in shares of Block during the third quarter valued at $46,000. Finally, Hobbs Group Advisors LLC bought a new position in shares of Block during the second quarter valued at $49,000. Institutional investors own 70.44% of the company’s stock.

Block Price Performance

Shares of NYSE SQ opened at $85.82 on Thursday. The company has a debt-to-equity ratio of 0.26, a quick ratio of 2.07 and a current ratio of 2.07. The company has a market cap of $52.84 billion, a PE ratio of 50.01, a P/E/G ratio of 1.18 and a beta of 2.48. The business has a 50-day simple moving average of $69.67 and a two-hundred day simple moving average of $67.09. Block, Inc. has a fifty-two week low of $53.82 and a fifty-two week high of $90.00.

Analyst Ratings Changes

Several equities research analysts recently commented on SQ shares. Oppenheimer started coverage on Block in a report on Tuesday, October 1st. They issued a “market perform” rating for the company. Piper Sandler reiterated an “overweight” rating and issued a $83.00 price objective on shares of Block in a report on Monday. William Blair upgraded Block to a “strong-buy” rating in a report on Wednesday, July 31st. Benchmark reiterated a “buy” rating and issued a $99.00 price objective on shares of Block in a report on Friday, August 2nd. Finally, BMO Capital Markets reduced their price objective on Block from $93.00 to $92.00 and set an “outperform” rating for the company in a report on Thursday, October 3rd. One equities research analyst has rated the stock with a sell rating, five have given a hold rating, twenty-three have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $91.30.

Insider Transactions at Block

In other 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 value of $90,968.20. Following the completion of the transaction, the chief accounting officer now directly owns 90,960 shares in the company, valued at $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 is available through the SEC website. In related news, CFO Amrita Ahuja sold 6,661 shares of Block stock in a transaction that occurred on Wednesday, August 21st. The stock was sold at an average price of $64.70, for a total transaction of $430,966.70. Following the completion of the transaction, the chief financial officer now directly owns 264,697 shares in the company, valued at approximately $17,125,895.90. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed 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 value 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. The trade was 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 worth $1,924,112 over the last three months. 10.49% of the stock is currently 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.