Block, Inc. (NYSE:SQ) Shares Bought by Janus Henderson Group PLC

Janus Henderson Group PLC lifted its stake in shares of Block, Inc. (NYSE:SQ) by 0.4% during the third quarter, Holdings Channel.com reports. The fund owned 53,878 shares of the technology company’s stock after purchasing an additional 200 shares during the period. Janus Henderson Group PLC’s holdings in Block were worth $3,615,000 at the end of the most recent reporting period.

Other hedge funds have also made changes to their positions in the company. SouthState Corp boosted its holdings in Block by 85.3% during the third quarter. SouthState Corp now owns 391 shares of the technology company’s stock worth $26,000 after buying an additional 180 shares in the last quarter. True Wealth Design LLC boosted its stake in Block by 64.7% in the 3rd quarter. True Wealth Design LLC now owns 494 shares of the technology company’s stock worth $33,000 after purchasing an additional 194 shares during the period. Unique Wealth Strategies LLC acquired a new position in Block in the 2nd quarter worth approximately $34,000. Migdal Insurance & Financial Holdings Ltd. acquired a new position in Block in the 2nd quarter worth approximately $44,000. Finally, V Square Quantitative Management LLC acquired a new position in Block in the 3rd quarter worth approximately $46,000. Institutional investors and hedge funds own 70.44% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have issued reports on SQ. BNP Paribas downgraded shares of Block from an “outperform” rating to a “neutral” rating and set a $88.00 target price for the company. in a research report on Wednesday, November 20th. UBS Group cut their target price on shares of Block from $100.00 to $92.00 and set a “buy” rating for the company in a research report on Tuesday, August 27th. Piper Sandler restated an “overweight” rating and set a $83.00 price target on shares of Block in a report on Monday, November 11th. William Blair reiterated an “outperform” rating on shares of Block in a report on Friday, November 15th. Finally, Keefe, Bruyette & Woods lifted their target price on shares of Block from $80.00 to $105.00 and gave the stock a “market perform” rating in a report on Monday. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and twenty-three have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $94.21.

Insiders Place Their Bets

In other Block news, CFO Amrita Ahuja sold 6,661 shares of the company’s stock in a transaction that occurred on Thursday, November 21st. The shares were sold at an average price of $91.43, for a total value of $609,015.23. Following the completion of the sale, the chief financial officer now owns 246,967 shares of the company’s stock, valued at approximately $22,580,192.81. This represents a 2.63 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Brian Grassadonia sold 1,884 shares of the company’s stock in a transaction that occurred on Wednesday, October 2nd. The shares were sold at an average price of $65.41, for a total transaction of $123,232.44. Following the completion of the sale, the insider now directly owns 574,914 shares of the company’s stock, valued at $37,605,124.74. The trade was a 0.33 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 31,918 shares of company stock valued at $2,666,147. Insiders own 10.49% of the company’s stock.

Block Trading Up 4.5 %

Shares of NYSE SQ opened at $98.24 on Thursday. Block, Inc. has a 1-year low of $55.00 and a 1-year high of $99.26. The company has a market cap of $60.89 billion, a PE ratio of 55.16, a P/E/G ratio of 1.31 and a beta of 2.50. The company has a current ratio of 2.07, a quick ratio of 2.07 and a debt-to-equity ratio of 0.26. The company has a 50-day moving average of $80.06 and a two-hundred day moving average of $69.96.

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.