Brown Brothers Harriman & Co. Sells 12,613 Shares of Block, Inc. (NYSE:SQ)

Brown Brothers Harriman & Co. cut its stake in Block, Inc. (NYSE:SQ) by 89.0% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 1,555 shares of the technology company’s stock after selling 12,613 shares during the quarter. Brown Brothers Harriman & Co.’s holdings in Block were worth $104,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently bought and sold shares of the company. Yoder Wealth Management Inc. lifted its holdings in shares of Block by 0.4% in the 3rd quarter. Yoder Wealth Management Inc. now owns 39,688 shares of the technology company’s stock worth $2,664,000 after acquiring an additional 145 shares during the last quarter. Nations Financial Group Inc. IA ADV lifted its stake in Block by 1.9% in the third quarter. Nations Financial Group Inc. IA ADV now owns 7,744 shares of the technology company’s stock worth $520,000 after purchasing an additional 145 shares during the last quarter. Moser Wealth Advisors LLC boosted its position in shares of Block by 2.5% during the third quarter. Moser Wealth Advisors LLC now owns 6,265 shares of the technology company’s stock valued at $421,000 after buying an additional 153 shares during the period. Lindbrook Capital LLC boosted its position in shares of Block by 6.3% during the third quarter. Lindbrook Capital LLC now owns 2,592 shares of the technology company’s stock valued at $174,000 after buying an additional 154 shares during the period. Finally, Larson Financial Group LLC grew its stake in shares of Block by 14.8% during the third quarter. Larson Financial Group LLC now owns 1,192 shares of the technology company’s stock valued at $80,000 after buying an additional 154 shares during the last quarter. 70.44% of the stock is owned by hedge funds and other institutional investors.

Block Stock Down 0.3 %

Block stock opened at $88.78 on Friday. Block, Inc. has a 1-year low of $55.00 and a 1-year high of $94.12. The business has a fifty day moving average price of $75.61 and a 200-day moving average price of $68.61. The company has a debt-to-equity ratio of 0.26, a current ratio of 2.07 and a quick ratio of 2.07. The stock has a market capitalization of $55.03 billion, a price-to-earnings ratio of 49.88, a PEG ratio of 1.22 and a beta of 2.48.

Insider Buying and Selling at Block

In related news, CAO Ajmere Dale sold 1,781 shares of the company’s stock in a transaction on Thursday, November 21st. The stock was sold at an average price of $91.43, for a total value of $162,836.83. Following the transaction, the chief accounting officer now directly owns 86,010 shares of the company’s stock, valued at $7,863,894.30. This represents a 2.03 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Chrysty Esperanza sold 2,964 shares of the business’s stock in a transaction dated Monday, November 11th. The shares were sold at an average price of $80.00, for a total value of $237,120.00. Following the sale, the insider now owns 88,607 shares in the company, valued at approximately $7,088,560. The trade was a 3.24 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 29,053 shares of company stock worth $2,393,972. 10.49% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on SQ shares. BNP Paribas lowered Block from an “outperform” rating to a “neutral” rating and set a $88.00 price target for the company. in a research note on Wednesday, November 20th. Keefe, Bruyette & Woods lifted their target price on Block from $71.00 to $80.00 and gave the stock a “market perform” rating in a research report on Friday, November 8th. Canaccord Genuity Group upped their price target on shares of Block from $95.00 to $120.00 and gave the stock a “buy” rating in a report on Tuesday, November 12th. William Blair reiterated an “outperform” rating on shares of Block in a report on Friday, November 15th. Finally, Piper Sandler reissued an “overweight” rating and issued a $83.00 price objective on shares of Block in a research report on Monday, November 11th. One analyst has rated the stock with a sell rating, seven have issued a hold rating and twenty-three have given a buy rating to the stock. According to data from MarketBeat.com, the stock 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.