Independent Advisor Alliance raised its stake in shares of Block, Inc. (NYSE:SQ – Free Report) by 70.9% in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 12,601 shares of the technology company’s stock after purchasing an additional 5,226 shares during the period. Independent Advisor Alliance’s holdings in Block were worth $846,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other institutional investors have also recently made changes to their positions in the company. Baillie Gifford & Co. grew its stake in shares of Block by 1.5% in the 3rd 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 raised 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 valued at $494,672,000 after purchasing an additional 934,588 shares during the period. Charles Schwab Investment Management Inc. lifted its stake in shares of 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 valued at $147,846,000 after purchasing an additional 45,472 shares during the last quarter. Dimensional Fund Advisors LP raised its holdings in Block by 17.8% during 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 buying an additional 326,444 shares during the period. Finally, D1 Capital Partners L.P. lifted its position in 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 worth $118,103,000 after buying an additional 795,000 shares during the last quarter. Hedge funds and other institutional investors own 70.44% of the company’s stock.
Block Price Performance
Shares of NYSE:SQ opened at $88.77 on Thursday. The stock has a market cap of $55.02 billion, a PE ratio of 49.87, a price-to-earnings-growth ratio of 1.22 and a beta of 2.48. The company has a debt-to-equity ratio of 0.26, a quick ratio of 2.07 and a current ratio of 2.07. The business’s fifty day moving average price is $75.20 and its two-hundred day moving average price is $68.47. Block, Inc. has a one year low of $55.00 and a one year high of $94.12.
Insider Buying and Selling
Analyst Ratings Changes
SQ has been the topic of several recent analyst reports. Royal Bank of Canada reiterated an “outperform” rating and issued a $88.00 price target on shares of Block in a report on Monday, October 21st. New Street Research started coverage on shares of Block in a research note on Monday, September 9th. They set a “neutral” rating and a $70.00 target price for the company. Wells Fargo & Company cut their price target on shares of Block from $95.00 to $85.00 and set an “overweight” rating on the stock in a report on Friday, August 2nd. Keefe, Bruyette & Woods boosted their price objective on shares of Block from $71.00 to $80.00 and gave the company a “market perform” rating in a research report on Friday, November 8th. Finally, Oppenheimer assumed coverage on shares of Block in a research note on Tuesday, October 1st. They issued a “market perform” rating on the stock. One analyst has rated the stock with a sell rating, seven have issued a hold rating and twenty-three have assigned a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $91.46.
View Our Latest Analysis on Block
About Block
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.
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