Larson Financial Group LLC Increases Holdings in Block, Inc. (NYSE:SQ)

Larson Financial Group LLC boosted its position in Block, Inc. (NYSE:SQ) by 14.8% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,192 shares of the technology company’s stock after purchasing an additional 154 shares during the period. Larson Financial Group LLC’s holdings in Block were worth $80,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Baillie Gifford & Co. grew its holdings in shares of Block by 1.5% during the third quarter. Baillie Gifford & Co. now owns 10,233,102 shares of the technology company’s stock worth $686,948,000 after buying an additional 147,873 shares in the last quarter. Lone Pine Capital LLC boosted its position in Block by 13.9% during the second quarter. Lone Pine Capital LLC now owns 7,670,523 shares of the technology company’s stock worth $494,672,000 after acquiring an additional 934,588 shares during the last quarter. Charles Schwab Investment Management Inc. grew its stake in Block by 2.1% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 2,202,388 shares of the technology company’s stock worth $147,846,000 after acquiring an additional 45,472 shares during the period. Dimensional Fund Advisors LP raised its holdings in Block by 17.8% in the 2nd quarter. Dimensional Fund Advisors LP now owns 2,157,733 shares of the technology company’s stock valued at $139,143,000 after acquiring an additional 326,444 shares during the last quarter. Finally, D1 Capital Partners L.P. lifted its stake in shares of Block by 76.7% during the 2nd quarter. D1 Capital Partners L.P. now owns 1,831,342 shares of the technology company’s stock worth $118,103,000 after purchasing an additional 795,000 shares during the period. 70.44% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Block news, CFO Amrita Ahuja sold 6,661 shares of the company’s stock in a transaction dated Thursday, November 21st. The shares were sold at an average price of $91.43, for a total value of $609,015.23. Following the completion of the transaction, the chief financial officer now owns 246,967 shares in the company, valued at approximately $22,580,192.81. This represents a 2.63 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Brian Grassadonia sold 1,884 shares of Block stock in a transaction that occurred on Wednesday, October 2nd. The shares were sold at an average price of $65.41, for a total value of $123,232.44. Following the sale, the insider now directly owns 574,914 shares in the company, valued at approximately $37,605,124.74. This trade represents a 0.33 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 29,053 shares of company stock valued at $2,393,972 over the last quarter. Insiders own 10.49% of the company’s stock.

Block Trading Down 0.3 %

NYSE SQ opened at $88.51 on Friday. The company has a debt-to-equity ratio of 0.26, a quick ratio of 2.07 and a current ratio of 2.07. Block, Inc. has a one year low of $55.00 and a one year high of $94.12. The company has a 50-day simple moving average of $76.03 and a 200-day simple moving average of $68.74. The firm has a market capitalization of $54.86 billion, a PE ratio of 49.72, a price-to-earnings-growth ratio of 1.20 and a beta of 2.48.

Analyst Ratings Changes

Several equities research analysts recently issued reports on SQ shares. New Street Research initiated coverage on shares of Block in a research report on Monday, September 9th. They issued a “neutral” rating and a $70.00 target price on the stock. UBS Group dropped their price objective on shares of Block from $100.00 to $92.00 and set a “buy” rating for the company in a research report on Tuesday, August 27th. Piper Sandler restated an “overweight” rating and set a $83.00 target price on shares of Block in a report on Monday, November 11th. Wells Fargo & Company lowered their price target on Block from $95.00 to $85.00 and set an “overweight” rating for the company in a report on Friday, August 2nd. Finally, William Blair restated an “outperform” rating on shares of Block in a research note on Friday, November 15th. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and twenty-three have assigned a buy rating to the stock. According to MarketBeat.com, Block currently has a consensus rating of “Moderate Buy” and an average target price of $91.46.

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.