Oppenheimer & Co. Inc. Has $760,000 Holdings in Block, Inc. (NYSE:SQ)

Oppenheimer & Co. Inc. trimmed its stake in Block, Inc. (NYSE:SQ) by 2.4% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 11,324 shares of the technology company’s stock after selling 283 shares during the period. Oppenheimer & Co. Inc.’s holdings in Block were worth $760,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Capital World Investors lifted its position in shares of Block by 4.7% in the 1st quarter. Capital World Investors now owns 13,096,614 shares of the technology company’s stock worth $1,107,712,000 after purchasing an additional 582,826 shares during the period. Baillie Gifford & Co. increased its position in shares of Block by 1.5% during the third quarter. Baillie Gifford & Co. now owns 10,233,102 shares of the technology company’s stock worth $686,948,000 after buying an additional 147,873 shares during the period. Lone Pine Capital LLC raised its stake in Block by 13.9% during the second quarter. Lone Pine Capital LLC now owns 7,670,523 shares of the technology company’s stock worth $494,672,000 after buying an additional 934,588 shares during the last quarter. Dimensional Fund Advisors LP lifted its holdings in Block by 17.8% in the second quarter. Dimensional Fund Advisors LP now owns 2,157,733 shares of the technology company’s stock valued at $139,143,000 after buying an additional 326,444 shares during the period. Finally, D1 Capital Partners L.P. boosted its position in Block by 76.7% during the second quarter. D1 Capital Partners L.P. now owns 1,831,342 shares of the technology company’s stock valued at $118,103,000 after acquiring an additional 795,000 shares during the last quarter. 70.44% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Block

In other Block news, CAO Ajmere Dale sold 1,000 shares of the stock in a transaction on Monday, November 11th. The stock was sold at an average price of $80.00, for a total transaction of $80,000.00. Following the completion of the transaction, the chief accounting officer now directly owns 88,791 shares of the company’s stock, valued at approximately $7,103,280. This represents a 1.11 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Amrita Ahuja sold 5,935 shares of the firm’s stock in a transaction on Wednesday, October 2nd. The stock was sold at an average price of $65.53, for a total value of $388,920.55. Following the completion of the sale, the chief financial officer now directly owns 255,496 shares of the company’s stock, valued at $16,742,652.88. This represents a 2.27 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 12,283 shares of company stock worth $862,773. 10.49% of the stock is owned by company insiders.

Block Stock Up 1.8 %

Shares of NYSE:SQ opened at $92.43 on Wednesday. Block, Inc. has a 1 year low of $55.00 and a 1 year high of $93.00. The company has a market capitalization of $57.29 billion, a PE ratio of 51.93, a price-to-earnings-growth ratio of 1.14 and a beta of 2.48. The business has a fifty day moving average price of $72.16 and a two-hundred day moving average price of $67.66. The company has a debt-to-equity ratio of 0.26, a current ratio of 2.07 and a quick ratio of 2.07.

Analysts Set New Price Targets

Several research analysts have recently weighed in on the company. Wells Fargo & Company lowered their price objective on Block from $95.00 to $85.00 and set an “overweight” rating for the company in a research report on Friday, August 2nd. UBS Group cut their price target on Block from $100.00 to $92.00 and set a “buy” rating on the stock in a report on Tuesday, August 27th. Oppenheimer assumed coverage on shares of Block in a research note on Tuesday, October 1st. They issued a “market perform” rating for the company. New Street Research started coverage on shares of Block in a research note on Monday, September 9th. They set a “neutral” rating and a $70.00 target price on the stock. Finally, Benchmark reaffirmed a “buy” rating and issued a $99.00 price target on shares of Block in a research note on Friday, August 2nd. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and twenty-four have given a buy rating to the company’s stock. According to data from MarketBeat, Block has an average rating of “Moderate Buy” and an average price target of $91.30.

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.