Block, Inc. (NYSE:SQ) Shares Acquired by Charles Schwab Investment Management Inc.

Charles Schwab Investment Management Inc. boosted its position in Block, Inc. (NYSE:SQ) by 2.1% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 2,202,388 shares of the technology company’s stock after buying an additional 45,472 shares during the quarter. Charles Schwab Investment Management Inc. owned approximately 0.36% of Block worth $147,846,000 at the end of the most recent quarter.

Other hedge funds also recently made changes to their positions in the company. SouthState Corp lifted its holdings in Block by 85.3% in the third quarter. SouthState Corp now owns 391 shares of the technology company’s stock worth $26,000 after acquiring an additional 180 shares during the last quarter. LRI Investments LLC acquired a new position in Block during the 1st quarter valued at approximately $34,000. Unique Wealth Strategies LLC bought a new position in Block during the 2nd quarter worth $34,000. V Square Quantitative Management LLC bought a new stake in Block in the third quarter valued at $46,000. Finally, Migdal Insurance & Financial Holdings Ltd. bought a new position in shares of Block during the second quarter worth about $44,000. Institutional investors and hedge funds own 70.44% of the company’s stock.

Block Price Performance

SQ opened at $92.26 on Monday. The firm has a market capitalization of $57.18 billion, a P/E ratio of 51.83, a PEG ratio of 1.25 and a beta of 2.48. The stock has a fifty day moving average of $73.83 and a 200-day moving average of $68.07. The company has a quick ratio of 2.07, a current ratio of 2.07 and a debt-to-equity ratio of 0.26. Block, Inc. has a 12-month low of $55.00 and a 12-month high of $94.12.

Insiders Place Their Bets

In related news, CAO Ajmere Dale sold 500 shares of the firm’s stock in a transaction that occurred on Tuesday, October 1st. The stock was sold at an average price of $67.00, for a total value of $33,500.00. Following the transaction, the chief accounting officer now directly owns 90,460 shares of the company’s stock, valued at approximately $6,060,820. This trade represents a 0.55 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Chrysty Esperanza sold 2,964 shares of the business’s stock in a transaction on Monday, November 11th. The stock was sold at an average price of $80.00, for a total transaction of $237,120.00. Following the transaction, the insider now directly owns 88,607 shares of the company’s stock, valued at approximately $7,088,560. This represents a 3.24 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 12,283 shares of company stock worth $862,773. 10.49% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

SQ has been the topic of several recent research reports. Royal Bank of Canada reiterated an “outperform” rating and issued a $88.00 price objective on shares of Block in a research report on Monday, October 21st. BMO Capital Markets cut their price target on Block from $93.00 to $92.00 and set an “outperform” rating on the stock in a report on Thursday, October 3rd. Oppenheimer initiated coverage on Block in a research report on Tuesday, October 1st. They issued a “market perform” rating on the stock. Piper Sandler reiterated an “overweight” rating and set a $83.00 price target on shares of Block in a research report on Monday, November 11th. Finally, Canaccord Genuity Group increased their price target on Block from $95.00 to $120.00 and gave the stock a “buy” rating in a research note on Tuesday, November 12th. One investment analyst has rated the stock with a sell rating, six have given a hold rating and twenty-four have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $91.18.

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.