Block, Inc. (NYSE:SQ) Shares Sold by Atria Investments Inc

Atria Investments Inc trimmed its stake in Block, Inc. (NYSE:SQ) by 43.2% in the third quarter, according to the company in its most recent disclosure with the SEC. The firm owned 32,221 shares of the technology company’s stock after selling 24,515 shares during the quarter. Atria Investments Inc’s holdings in Block were worth $2,163,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. LRI Investments LLC acquired a new position in shares of Block in the first quarter worth about $34,000. Unique Wealth Strategies LLC acquired a new position in Block during the 2nd quarter worth $34,000. Migdal Insurance & Financial Holdings Ltd. bought a new stake in shares of Block during the 2nd quarter worth about $44,000. V Square Quantitative Management LLC bought a new stake in shares of Block in the 3rd quarter worth $46,000. Finally, Hobbs Group Advisors LLC acquired a new position in shares of Block in the 2nd quarter worth approximately $49,000. Institutional investors and hedge funds own 70.44% of the company’s stock.

Analyst Ratings Changes

SQ has been the subject of a number of analyst reports. Oppenheimer began coverage on shares of Block in a research note on Tuesday, October 1st. They set a “market perform” rating for the company. Piper Sandler reiterated an “overweight” rating and set a $83.00 price target on shares of Block in a report on Monday. Benchmark restated a “buy” rating and set a $99.00 target price on shares of Block in a research note on Friday, August 2nd. William Blair upgraded Block to a “strong-buy” rating in a research note on Wednesday, July 31st. Finally, Royal Bank of Canada restated an “outperform” rating and issued a $88.00 target price on shares of Block in a research note on Monday, October 21st. One equities research 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 issued a strong buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $91.30.

Insider Buying and Selling

In other Block news, CFO Amrita Ahuja sold 6,661 shares of the 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 $430,966.70. Following the transaction, the chief financial officer now directly owns 264,697 shares in the company, valued at $17,125,895.90. This represents a 2.45 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CAO Ajmere Dale sold 1,406 shares of Block stock in a transaction that occurred on Wednesday, August 21st. The stock was 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 trade represents a 1.52 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 28,678 shares of company stock valued at $1,924,112. 10.49% of the stock is owned by corporate insiders.

Block Stock Down 2.8 %

Shares of SQ stock opened at $83.42 on Friday. 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 stock’s 50-day simple moving average is $70.11 and its 200-day simple moving average is $67.22. Block, Inc. has a fifty-two week low of $55.00 and a fifty-two week high of $90.00. The firm has a market capitalization of $51.36 billion, a PE ratio of 48.21, a P/E/G ratio of 1.18 and a beta of 2.48.

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.