Crossmark Global Holdings Inc. Sells 1,979 Shares of Block, Inc. (NYSE:SQ)

Crossmark Global Holdings Inc. trimmed its position in shares of Block, Inc. (NYSE:SQ) by 29.9% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 4,641 shares of the technology company’s stock after selling 1,979 shares during the quarter. Crossmark Global Holdings Inc.’s holdings in Block were worth $311,000 as of its most recent filing with the Securities and Exchange Commission.

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

Insider Buying and Selling at Block

In related news, CFO Amrita Ahuja sold 6,661 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 transaction of $430,966.70. Following the completion of 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 position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Brian Grassadonia sold 8,328 shares of the stock in a transaction that occurred on Wednesday, August 21st. The shares were sold at an average price of $64.77, for a total transaction of $539,404.56. Following the completion of the transaction, the insider now directly owns 580,086 shares of the company’s stock, valued at approximately $37,572,170.22. The trade was a 1.42 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 28,678 shares of company stock valued at $1,924,112. 10.49% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

SQ has been the subject of several recent analyst reports. Canaccord Genuity Group upped their target price on shares of Block from $95.00 to $120.00 and gave the company a “buy” rating in a research note on Tuesday, November 12th. Morgan Stanley lowered their price objective on shares of Block from $60.00 to $55.00 and set an “underweight” rating for the company in a research report on Tuesday, July 30th. Macquarie reaffirmed an “outperform” rating and issued a $100.00 price objective on shares of Block in a research report on Friday, July 26th. Oppenheimer assumed coverage on Block in a report on Tuesday, October 1st. They set a “market perform” rating for the company. Finally, Piper Sandler reaffirmed an “overweight” rating and issued a $83.00 target price on shares of Block in a research report on Monday, November 11th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and twenty-four have assigned a buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $91.30.

Block Stock Performance

NYSE SQ opened at $84.30 on Monday. The firm’s 50 day simple moving average is $70.94 and its 200 day simple moving average is $67.36. The firm has a market capitalization of $51.90 billion, a price-to-earnings ratio of 47.36, a P/E/G ratio of 1.14 and a beta of 2.48. The company has a current ratio of 2.07, a quick ratio of 2.07 and a debt-to-equity ratio of 0.26. Block, Inc. has a 1 year low of $55.00 and a 1 year high of $90.00.

About Block

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.