Harvest Fund Management Co. Ltd Buys New Position in Block, Inc. (NYSE:SQ)

Harvest Fund Management Co. Ltd purchased a new position in Block, Inc. (NYSE:SQ) in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The fund purchased 1,723 shares of the technology company’s stock, valued at approximately $116,000.

Other institutional investors have also recently made changes to their positions in the company. Douglass Winthrop Advisors LLC lifted its holdings in shares of Block by 4.1% during the 3rd quarter. Douglass Winthrop Advisors LLC now owns 22,115 shares of the technology company’s stock worth $1,485,000 after acquiring an additional 880 shares during the last quarter. Summit Trail Advisors LLC bought a new position in Block in the third quarter valued at $434,000. Larson Financial Group LLC raised its position in Block by 14.8% during the third quarter. Larson Financial Group LLC now owns 1,192 shares of the technology company’s stock valued at $80,000 after purchasing an additional 154 shares in the last quarter. Sompo Asset Management Co. Ltd. lifted its stake in Block by 142.9% during the third quarter. Sompo Asset Management Co. Ltd. now owns 8,940 shares of the technology company’s stock worth $600,000 after purchasing an additional 5,260 shares during the last quarter. Finally, Swedbank AB lifted its stake in Block by 11.0% during the third quarter. Swedbank AB now owns 42,040 shares of the technology company’s stock worth $2,822,000 after purchasing an additional 4,155 shares during the last quarter. Institutional investors own 70.44% of the company’s stock.

Block Price Performance

NYSE SQ opened at $88.77 on Thursday. Block, Inc. has a one year low of $55.00 and a one year high of $94.12. The stock has a 50-day moving average of $75.20 and a 200 day moving average of $68.47. The company has a debt-to-equity ratio of 0.26, a quick ratio of 2.07 and a current ratio of 2.07. The company has a market capitalization of $55.02 billion, a price-to-earnings ratio of 49.87, a PEG ratio of 1.22 and a beta of 2.48.

Insider Activity

In other Block news, insider Chrysty Esperanza sold 2,964 shares of the business’s stock in a transaction dated Monday, November 11th. The stock was sold at an average price of $80.00, for a total transaction of $237,120.00. Following the completion of the sale, the insider now directly owns 88,607 shares in the company, valued at $7,088,560. The trade was a 3.24 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CAO Ajmere Dale sold 500 shares of the firm’s stock in a transaction that occurred on Tuesday, October 1st. The stock was sold at an average price of $67.00, for a total transaction of $33,500.00. Following the completion of the transaction, the chief accounting officer now directly owns 90,460 shares in the company, valued at approximately $6,060,820. The trade was a 0.55 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 29,053 shares of company stock valued at $2,393,972 in the last 90 days. 10.49% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on SQ shares. UBS Group reduced their price objective on Block from $100.00 to $92.00 and set a “buy” rating on the stock in a research report on Tuesday, August 27th. Wells Fargo & Company decreased their price target on shares of Block from $95.00 to $85.00 and set an “overweight” rating on the stock in a research note on Friday, August 2nd. Royal Bank of Canada restated an “outperform” rating and issued a $88.00 price objective on shares of Block in a report on Monday, October 21st. Benchmark reaffirmed a “buy” rating and set a $99.00 target price on shares of Block in a report on Friday, August 2nd. Finally, William Blair reiterated an “outperform” rating on shares of Block in a research report on Friday, November 15th. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and twenty-three have assigned a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $91.46.

Block Company 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.