Moors & Cabot Inc. Purchases 187 Shares of Block, Inc. (NYSE:SQ)

Moors & Cabot Inc. lifted its holdings in Block, Inc. (NYSE:SQ) by 3.0% during the third quarter, according to its most recent Form 13F filing with the SEC. The firm owned 6,440 shares of the technology company’s stock after purchasing an additional 187 shares during the period. Moors & Cabot Inc.’s holdings in Block were worth $432,000 as of its most recent filing with the SEC.

Several other large investors have also made changes to their positions in SQ. Baillie Gifford & Co. raised its stake in Block by 45.7% during the 2nd quarter. Baillie Gifford & Co. now owns 10,085,229 shares of the technology company’s stock valued at $650,396,000 after purchasing an additional 3,163,975 shares during the last quarter. Lone Pine Capital LLC raised its position 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 valued at $494,672,000 after buying an additional 934,588 shares during the last quarter. D1 Capital Partners L.P. lifted its stake in shares of Block by 76.7% in the second quarter. D1 Capital Partners L.P. now owns 1,831,342 shares of the technology company’s stock valued at $118,103,000 after buying an additional 795,000 shares during the period. Canada Pension Plan Investment Board grew its position in Block by 1,061.0% during the second quarter. Canada Pension Plan Investment Board now owns 657,667 shares of the technology company’s stock worth $42,413,000 after buying an additional 601,020 shares in the last quarter. Finally, DekaBank Deutsche Girozentrale increased its stake in Block by 303.4% during the first quarter. DekaBank Deutsche Girozentrale now owns 541,589 shares of the technology company’s stock valued at $45,333,000 after acquiring an additional 407,333 shares during the period. Institutional investors and hedge funds own 70.44% of the company’s stock.

Insiders Place Their Bets

In other news, CAO Ajmere Dale sold 500 shares of the stock in a transaction 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 of the company’s stock, valued at $6,060,820. This represents a 0.55 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CFO Amrita Ahuja sold 5,935 shares of the firm’s stock in a transaction on Wednesday, October 2nd. The stock was sold at an average price of $65.53, for a total value of $388,920.55. Following the completion of the transaction, the chief financial officer now owns 255,496 shares in the company, valued at $16,742,652.88. This represents a 2.27 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 12,283 shares of company stock valued at $862,773. 10.49% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

SQ has been the topic of several recent research reports. Canaccord Genuity Group lifted their price objective on Block from $95.00 to $120.00 and gave the stock a “buy” rating in a report on Tuesday, November 12th. UBS Group lowered their price target on shares of Block from $100.00 to $92.00 and set a “buy” rating on the stock in a report on Tuesday, August 27th. Benchmark restated a “buy” rating and issued a $99.00 price objective on shares of Block in a research note on Friday, August 2nd. BMO Capital Markets decreased their target price on shares of Block from $93.00 to $92.00 and set an “outperform” rating on the stock in a research report on Thursday, October 3rd. Finally, Piper Sandler reissued an “overweight” rating and issued a $83.00 price target on shares of Block in a research report on Monday, November 11th. One investment analyst has rated the stock with a sell rating, six have given a hold rating and twenty-four have given a buy rating to the company. According to data from MarketBeat.com, Block has a consensus rating of “Moderate Buy” and a consensus price target of $91.18.

Block Trading Down 0.5 %

Shares of SQ opened at $92.26 on Friday. The stock’s fifty day simple moving average is $73.83 and its 200-day simple moving average is $68.10. The firm has a market capitalization of $57.18 billion, a PE ratio of 51.83, a price-to-earnings-growth ratio of 1.25 and a beta of 2.48. Block, Inc. has a 12-month low of $55.00 and a 12-month high of $94.12. 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 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.