Rockefeller Capital Management L.P. Has $20.23 Million Stock Holdings in Block, Inc. (NYSE:SQ)

Rockefeller Capital Management L.P. cut its stake in shares of Block, Inc. (NYSE:SQ) by 27.1% in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 301,397 shares of the technology company’s stock after selling 112,094 shares during the period. Rockefeller Capital Management L.P.’s holdings in Block were worth $20,233,000 as of its most recent filing with the SEC.

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

Insider Transactions at Block

In other Block news, CFO Amrita Ahuja sold 6,661 shares of the business’s stock in a transaction on Thursday, November 21st. The shares were sold at an average price of $91.43, for a total transaction of $609,015.23. Following the sale, the chief financial officer now owns 246,967 shares of the company’s stock, valued at approximately $22,580,192.81. The trade was a 2.63 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Brian Grassadonia sold 8,328 shares of the stock in a transaction on Thursday, November 21st. The shares were sold at an average price of $91.18, for a total value of $759,347.04. Following the completion of the transaction, the insider now owns 563,894 shares of the company’s stock, valued at $51,415,854.92. The trade was a 1.46 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 29,053 shares of company stock valued at $2,393,972. Corporate insiders own 10.49% of the company’s stock.

Block Stock Down 0.3 %

NYSE SQ opened at $88.55 on Monday. The business has a fifty day moving average price of $76.03 and a two-hundred day moving average price of $68.70. The stock has a market capitalization of $54.88 billion, a PE ratio of 49.75, a PEG ratio of 1.19 and a beta of 2.48. Block, Inc. has a fifty-two week low of $55.00 and a fifty-two week high of $94.12. The company has a debt-to-equity ratio of 0.26, a current ratio of 2.07 and a quick ratio of 2.07.

Analyst Upgrades and Downgrades

Several research firms have commented on SQ. Royal Bank of Canada reiterated an “outperform” rating and issued a $88.00 price objective on shares of Block in a report on Monday, October 21st. Canaccord Genuity Group upped their price target on shares of Block from $95.00 to $120.00 and gave the company a “buy” rating in a research note on Tuesday, November 12th. Oppenheimer initiated coverage on shares of Block in a research report on Tuesday, October 1st. They set a “market perform” rating for the company. BNP Paribas downgraded Block from an “outperform” rating to a “neutral” rating and set a $88.00 target price on the stock. in a research report on Wednesday, November 20th. Finally, Keefe, Bruyette & Woods increased their target price on Block from $71.00 to $80.00 and gave the stock a “market perform” rating in a research note on Friday, November 8th. One analyst has rated the stock with a sell rating, seven have given a hold rating and twenty-three have given a buy rating to the stock. According to MarketBeat.com, Block currently has a consensus rating of “Moderate Buy” and an average price target of $91.46.

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.