Block, Inc. (NYSE:SQ) Shares Bought by Hartline Investment Corp

Hartline Investment Corp boosted its holdings in Block, Inc. (NYSE:SQ) by 2.1% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 86,602 shares of the technology company’s stock after purchasing an additional 1,784 shares during the quarter. Block makes up about 0.7% of Hartline Investment Corp’s investment portfolio, making the stock its 26th largest holding. Hartline Investment Corp’s holdings in Block were worth $5,814,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. LRI Investments LLC bought a new position in Block during the 1st quarter worth $34,000. Unique Wealth Strategies LLC purchased a new stake in shares of Block during the second quarter valued at $34,000. V Square Quantitative Management LLC acquired a new position in shares of Block in the third quarter worth about $46,000. Migdal Insurance & Financial Holdings Ltd. purchased a new position in shares of Block in the second quarter worth approximately $44,000. Finally, Hobbs Group Advisors LLC purchased a new position in shares of Block during the second quarter valued at $49,000. 70.44% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other Block news, CAO Ajmere Dale sold 1,406 shares of the stock in a transaction on Wednesday, August 21st. The shares were sold at an average price of $64.70, for a total value of $90,968.20. Following the completion of the sale, the chief accounting officer now directly owns 90,960 shares of the company’s stock, valued at $5,885,112. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other Block news, CFO Amrita Ahuja sold 5,935 shares of Block stock in a transaction that occurred on Wednesday, October 2nd. The stock was sold at an average price of $65.53, for a total transaction of $388,920.55. Following the sale, the chief financial officer now directly owns 255,496 shares of the company’s stock, valued at approximately $16,742,652.88. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CAO Ajmere Dale sold 1,406 shares of the company’s stock in a transaction that occurred on Wednesday, August 21st. The shares were sold at an average price of $64.70, for a total value of $90,968.20. Following the completion of the sale, the chief accounting officer now 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 disclosure for this sale can be found here. Over the last quarter, insiders have sold 24,714 shares of company stock valued at $1,606,992. 10.49% of the stock is owned by company insiders.

Analyst Ratings Changes

Several brokerages recently issued reports on SQ. Benchmark reissued a “buy” rating and issued a $99.00 price objective on shares of Block in a research note on Friday, August 2nd. Piper Sandler restated an “overweight” rating and issued a $83.00 target price on shares of Block in a research note on Monday. BMO Capital Markets cut their price target on Block from $93.00 to $92.00 and set an “outperform” rating for the company in a research note on Thursday, October 3rd. UBS Group reduced their price target on Block from $100.00 to $92.00 and set a “buy” rating for the company in a report on Tuesday, August 27th. Finally, Macquarie restated an “outperform” rating and issued a $100.00 price objective on shares of Block in a report on Friday, July 26th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating, twenty-three have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, Block currently has a consensus rating of “Moderate Buy” and an average target price of $91.30.

Block Stock Up 4.6 %

Shares of SQ stock opened at $87.20 on Wednesday. Block, Inc. has a 12 month low of $50.86 and a 12 month high of $87.52. The company has a quick ratio of 2.07, a current ratio of 2.07 and a debt-to-equity ratio of 0.26. The firm has a market cap of $53.68 billion, a PE ratio of 48.99, a price-to-earnings-growth ratio of 1.11 and a beta of 2.48. The stock has a 50 day moving average of $69.21 and a 200-day moving average of $67.00.

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.