ST Germain D J Co. Inc. Has $8.83 Million Stock Holdings in Block, Inc. (NYSE:SQ)

ST Germain D J Co. Inc. lowered its position in shares of Block, Inc. (NYSE:SQ) by 2.8% in the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 103,915 shares of the technology company’s stock after selling 2,999 shares during the quarter. ST Germain D J Co. Inc.’s holdings in Block were worth $8,832,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. SouthState Corp raised its stake in Block by 85.3% in the 3rd quarter. SouthState Corp now owns 391 shares of the technology company’s stock worth $26,000 after purchasing an additional 180 shares in the last quarter. Versant Capital Management Inc increased its holdings in shares of Block by 67.7% during the fourth quarter. Versant Capital Management Inc now owns 394 shares of the technology company’s stock worth $33,000 after purchasing an additional 159 shares during the period. True Wealth Design LLC raised its position in shares of Block by 64.7% in the third quarter. True Wealth Design LLC now owns 494 shares of the technology company’s stock valued at $33,000 after buying an additional 194 shares in the last quarter. V Square Quantitative Management LLC acquired a new stake in shares of Block in the third quarter valued at approximately $46,000. Finally, Future Financial Wealth Managment LLC bought a new stake in shares of Block in the third quarter valued at approximately $57,000. Institutional investors own 70.44% of the company’s stock.

Insider Activity

In related news, CFO Amrita Ahuja sold 1,502 shares of the business’s stock in a transaction on Thursday, January 2nd. The shares were sold at an average price of $86.52, for a total transaction of $129,953.04. Following the transaction, the chief financial officer now owns 242,199 shares in the company, valued at $20,955,057.48. The trade was a 0.62 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Brian Grassadonia sold 8,328 shares of the stock in a transaction on Thursday, November 21st. The stock was sold at an average price of $91.18, for a total transaction of $759,347.04. Following the transaction, the insider now directly owns 563,894 shares in the company, valued at approximately $51,415,854.92. This represents a 1.46 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 29,981 shares of company stock valued at $2,681,185. 10.49% of the stock is currently owned by insiders.

Analyst Ratings Changes

A number of research firms recently commented on SQ. Barclays boosted their price target on Block from $100.00 to $112.00 and gave the company an “overweight” rating in a research note on Tuesday, December 17th. Raymond James upgraded shares of Block from a “market perform” rating to an “outperform” rating and set a $115.00 target price for the company in a research report on Friday, January 3rd. Macquarie increased their price target on shares of Block from $100.00 to $110.00 and gave the stock an “outperform” rating in a research report on Tuesday, December 10th. Needham & Company LLC boosted their price objective on shares of Block from $80.00 to $90.00 and gave the company a “buy” rating in a research report on Friday, November 8th. Finally, Oppenheimer raised Block from a “market perform” rating to an “outperform” rating and set a $115.00 target price on the stock in a report on Thursday, December 19th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and twenty-seven have issued a buy rating to the company. According to data from MarketBeat, Block currently has a consensus rating of “Moderate Buy” and a consensus target price of $96.77.

Block Trading Down 4.7 %

NYSE:SQ traded down $4.09 on Friday, reaching $82.66. 3,794,898 shares of the stock traded hands, compared to its average volume of 6,541,227. The company has a current ratio of 2.07, a quick ratio of 2.07 and a debt-to-equity ratio of 0.26. Block, Inc. has a 1-year low of $55.00 and a 1-year high of $99.26. The company’s 50 day moving average is $88.39 and its 200-day moving average is $73.83. The firm has a market capitalization of $51.23 billion, a price-to-earnings ratio of 46.44, a price-to-earnings-growth ratio of 1.23 and a beta of 2.51.

Block Company 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.