Rakuten Securities Inc. Has $311,000 Position in Block, Inc. (NYSE:SQ)

Rakuten Securities Inc. lowered its position in shares of Block, Inc. (NYSE:SQ) by 18.4% in the third quarter, Holdings Channel reports. The firm owned 4,634 shares of the technology company’s stock after selling 1,045 shares during the period. Rakuten Securities Inc.’s holdings in Block were worth $311,000 at the end of the most recent quarter.

Other institutional investors have also recently bought and sold shares of the company. Yoder Wealth Management Inc. boosted its holdings in shares of Block by 0.4% in the third quarter. Yoder Wealth Management Inc. now owns 39,688 shares of the technology company’s stock valued at $2,664,000 after buying an additional 145 shares during the period. Nations Financial Group Inc. IA ADV boosted its holdings in shares of 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. Lindbrook Capital LLC boosted its holdings in shares of Block by 6.3% in the third quarter. Lindbrook Capital LLC now owns 2,592 shares of the technology company’s stock valued at $174,000 after buying an additional 154 shares during the period. Quintet Private Bank Europe S.A. boosted its holdings in shares of Block by 13.8% in the third quarter. Quintet Private Bank Europe S.A. now owns 1,351 shares of the technology company’s stock valued at $91,000 after buying an additional 164 shares during the period. Finally, Jamison Private Wealth Management Inc. boosted its holdings in shares of Block by 1.9% in the second quarter. Jamison Private Wealth Management Inc. now owns 8,973 shares of the technology company’s stock valued at $579,000 after buying an additional 165 shares during the period. Institutional investors and hedge funds own 70.44% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on SQ. Keefe, Bruyette & Woods upped their price target on shares of Block from $71.00 to $80.00 and gave the company a “market perform” rating in a report on Friday. Macquarie reissued an “outperform” rating and issued a $100.00 price objective on shares of Block in a research report on Friday, July 26th. Piper Sandler reissued an “overweight” rating and issued a $83.00 price objective on shares of Block in a research report on Monday. Royal Bank of Canada reissued an “outperform” rating and issued a $88.00 price objective on shares of Block in a research report on Monday, October 21st. Finally, New Street Research started coverage on shares of Block in a research report on Monday, September 9th. They issued a “neutral” rating and a $70.00 price objective on the stock. One investment analyst has rated the stock with a sell rating, five have given a hold rating, twenty-three have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $90.37.

Block Price Performance

Shares of SQ opened at $83.41 on Tuesday. The firm has a market capitalization of $51.35 billion, a PE ratio of 46.86, a PEG ratio of 1.02 and a beta of 2.48. The company’s 50-day moving average is $69.21 and its 200-day moving average is $67.00. Block, Inc. has a fifty-two week low of $50.86 and a fifty-two week high of $87.52. The company has a debt-to-equity ratio of 0.26, a current ratio of 1.82 and a quick ratio of 1.82.

Insider Activity

In related news, CAO Ajmere Dale sold 1,406 shares of the company’s stock in a transaction dated Wednesday, August 21st. The shares were sold at an average price of $64.70, for a total value of $90,968.20. Following the transaction, the chief accounting officer now directly owns 90,960 shares in the company, valued at approximately $5,885,112. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In related news, CAO Ajmere Dale sold 1,406 shares of the company’s stock in a transaction dated Wednesday, August 21st. The shares were sold at an average price of $64.70, for a total value of $90,968.20. Following the transaction, the chief accounting officer now directly owns 90,960 shares in the company, valued at approximately $5,885,112. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Brian Grassadonia sold 1,884 shares of the company’s stock in a transaction dated 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 transaction, the insider now owns 574,914 shares in the company, valued at $37,605,124.74. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 24,714 shares of company stock valued at $1,606,992 over the last ninety days. 10.49% of the stock is currently owned by company insiders.

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.