Lindbrook Capital LLC Boosts Holdings in Block, Inc. (NYSE:SQ)

Lindbrook Capital LLC grew its position in Block, Inc. (NYSE:SQ) by 6.3% during the 3rd quarter, Holdings Channel.com reports. The firm owned 2,592 shares of the technology company’s stock after purchasing an additional 154 shares during the period. Lindbrook Capital LLC’s holdings in Block were worth $174,000 as of its most recent SEC filing.

A number of other large investors have also made changes to their positions in the business. National Pension Service increased its position in Block by 13.5% during the 3rd quarter. National Pension Service now owns 1,083,113 shares of the technology company’s stock valued at $72,709,000 after buying an additional 128,832 shares in the last quarter. Lone Pine Capital LLC grew its stake in shares of 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. DekaBank Deutsche Girozentrale increased its holdings in shares of Block by 2.7% during the third quarter. DekaBank Deutsche Girozentrale now owns 541,204 shares of the technology company’s stock valued at $35,969,000 after acquiring an additional 14,163 shares in the last quarter. Forsta AP Fonden raised its position in shares of Block by 11.5% in the 3rd quarter. Forsta AP Fonden now owns 115,900 shares of the technology company’s stock valued at $7,780,000 after purchasing an additional 12,000 shares during the last quarter. Finally, Vontobel Holding Ltd. boosted its stake in Block by 165.2% in the 3rd quarter. Vontobel Holding Ltd. now owns 453,545 shares of the technology company’s stock worth $30,446,000 after purchasing an additional 282,550 shares in the last quarter. 70.44% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In related news, CAO Ajmere Dale sold 500 shares of the business’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 transaction of $33,500.00. Following the completion of the sale, the chief accounting officer now directly owns 90,460 shares in the company, valued at approximately $6,060,820. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, insider Brian Grassadonia sold 1,884 shares of the company’s stock in a transaction that occurred on Wednesday, October 2nd. The stock was sold at an average price of $65.41, for a total value of $123,232.44. Following the completion of the sale, the insider now directly owns 574,914 shares in the company, valued at $37,605,124.74. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CAO Ajmere Dale sold 500 shares of Block 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 owns 90,460 shares in the company, valued at approximately $6,060,820. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 25,214 shares of company stock worth $1,637,932 over the last quarter. 10.49% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

SQ has been the topic of a number of recent analyst reports. Needham & Company LLC upped their price target on shares of Block from $80.00 to $90.00 and gave the company a “buy” rating in a research note on Friday. Oppenheimer assumed coverage on Block in a research note on Tuesday, October 1st. They issued a “market perform” rating for the company. Macquarie reaffirmed an “outperform” rating and set a $100.00 price target on shares of Block in a research report on Friday, July 26th. Morgan Stanley cut their price objective on Block from $60.00 to $55.00 and set an “underweight” rating on the stock in a report on Tuesday, July 30th. Finally, Royal Bank of Canada restated an “outperform” rating and issued a $88.00 price objective on shares of Block in a research note on Monday, October 21st. One analyst has rated the stock with a sell rating, five have given a hold rating, twenty-three have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $90.56.

Block Trading Down 0.9 %

Shares of Block stock opened at $74.56 on Monday. The company has a current ratio of 1.82, a quick ratio of 1.82 and a debt-to-equity ratio of 0.26. Block, Inc. has a twelve month low of $50.86 and a twelve month high of $87.52. The firm has a market capitalization of $45.90 billion, a PE ratio of 41.89, a P/E/G ratio of 1.02 and a beta of 2.48. The firm’s 50-day moving average price is $68.86 and its 200 day moving average price is $66.97.

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.