Moloney Securities Asset Management LLC Sells 489 Shares of Block, Inc. (NYSE:SQ)

by · The Cerbat Gem

Moloney Securities Asset Management LLC decreased its position in shares of Block, Inc. (NYSE:SQ – Free Report) by 0.7% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 64,816 shares of the technology company’s stock after selling 489 shares during the period. Moloney Securities Asset Management LLC’s holdings in Block were worth $4,351,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. Norden Group LLC purchased a new position in shares of Block in the first quarter valued at $480,000. Diversify Advisory Services LLC bought a new stake in shares of Block during the first quarter worth $213,000. Janney Montgomery Scott LLC raised its holdings in shares of Block by 129.3% in the first quarter. Janney Montgomery Scott LLC now owns 86,265 shares of the technology company’s stock valued at $7,296,000 after acquiring an additional 48,649 shares in the last quarter. Nordea Investment Management AB raised its holdings in shares of Block by 3.8% in the first quarter. Nordea Investment Management AB now owns 38,862 shares of the technology company’s stock valued at $3,253,000 after acquiring an additional 1,438 shares in the last quarter. Finally, BI Asset Management Fondsmaeglerselskab A S raised its holdings in shares of Block by 1.6% in the first quarter. BI Asset Management Fondsmaeglerselskab A S now owns 19,453 shares of the technology company’s stock valued at $1,645,000 after acquiring an additional 309 shares in the last quarter. 70.44% of the stock is owned by hedge funds and other institutional investors.

Block Trading Up 0.7 %

SQ stock opened at $72.69 on Tuesday. The company’s 50-day simple moving average is $68.15 and its 200-day simple moving average is $66.86. The firm has a market cap of $44.75 billion, a P/E ratio of 56.79, a PEG ratio of 0.99 and a beta of 2.48. The company has a quick ratio of 1.82, a current ratio of 1.82 and a debt-to-equity ratio of 0.26. Block, Inc. has a 52-week low of $48.15 and a 52-week high of $87.52.

Insider Transactions at Block

In related news, CAO Ajmere Dale sold 500 shares of the stock in a transaction that occurred on Tuesday, August 13th. The shares were sold at an average price of $61.88, for a total transaction of $30,940.00. Following the completion of the transaction, the chief accounting officer now owns 92,366 shares of the company’s stock, valued at approximately $5,715,608.08. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other Block news, insider Brian Grassadonia sold 8,328 shares of the firm’s stock in a transaction that occurred on Wednesday, August 21st. The shares were sold at an average price of $64.77, for a total value of $539,404.56. Following the completion of the transaction, the insider now owns 580,086 shares of the company’s stock, valued at $37,572,170.22. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, CAO Ajmere Dale sold 500 shares of the firm’s stock in a transaction that occurred on Tuesday, August 13th. The shares were sold at an average price of $61.88, for a total transaction of $30,940.00. Following the completion of the transaction, the chief accounting officer now directly owns 92,366 shares of the company’s stock, valued at $5,715,608.08. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 25,214 shares of company stock worth $1,637,932 in the last 90 days. Insiders own 10.49% of the company’s stock.

Analyst Upgrades and Downgrades

SQ has been the subject of several analyst reports. Keefe, Bruyette & Woods decreased their price target on shares of Block from $82.00 to $74.00 and set a “market perform” rating for the company in a research report on Monday, July 8th. Deutsche Bank Aktiengesellschaft upped their price target on Block from $90.00 to $98.00 and gave the stock a “buy” rating in a research report on Friday, July 12th. Wells Fargo & Company reduced their price target on Block from $95.00 to $85.00 and set an “overweight” rating on the stock in a research report on Friday, August 2nd. Macquarie reaffirmed an “outperform” rating and set a $100.00 price target on shares of Block in a research report on Friday, July 26th. Finally, Morgan Stanley reduced their price target on Block from $60.00 to $55.00 and set an “underweight” rating on the stock in a research report on Tuesday, July 30th. One research analyst has rated the stock with a sell rating, five have issued a hold rating, twenty-four have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $88.79.

View Our Latest Stock Analysis on SQ

Block Company Profile

(Free Report)

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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