Amalgamated Bank Has $2.18 Million Holdings in Block, Inc. (NYSE:SQ)

Amalgamated Bank trimmed its stake in Block, Inc. (NYSE:SQ) by 2.7% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 32,519 shares of the technology company’s stock after selling 917 shares during the period. Amalgamated Bank’s holdings in Block were worth $2,183,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in the stock. Vanguard Group Inc. boosted its stake in Block by 0.9% during the first quarter. Vanguard Group Inc. now owns 36,511,250 shares of the technology company’s stock worth $3,088,122,000 after buying an additional 318,549 shares in the last quarter. Capital World Investors boosted its position in shares of Block by 4.7% during the 1st quarter. Capital World Investors now owns 13,096,614 shares of the technology company’s stock valued at $1,107,712,000 after acquiring an additional 582,826 shares in the last quarter. Baillie Gifford & Co. increased its stake in Block by 45.7% in the second quarter. Baillie Gifford & Co. now owns 10,085,229 shares of the technology company’s stock valued at $650,396,000 after acquiring an additional 3,163,975 shares during the period. Lone Pine Capital LLC raised its position in Block by 13.9% in the second quarter. Lone Pine Capital LLC now owns 7,670,523 shares of the technology company’s stock worth $494,672,000 after purchasing an additional 934,588 shares in the last quarter. Finally, Dimensional Fund Advisors LP lifted its stake in Block by 17.8% during the second quarter. Dimensional Fund Advisors LP now owns 2,157,733 shares of the technology company’s stock worth $139,143,000 after purchasing an additional 326,444 shares during the period. Institutional investors own 70.44% of the company’s stock.

Insiders Place Their Bets

In other Block news, CAO Ajmere Dale sold 1,406 shares of Block 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 approximately $5,885,112. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In related news, CAO Ajmere Dale sold 1,406 shares of the firm’s stock in a transaction dated Wednesday, August 21st. The shares were sold at an average price of $64.70, for a total value of $90,968.20. Following the transaction, the chief accounting officer now owns 90,960 shares of the company’s stock, valued at approximately $5,885,112. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Brian Grassadonia sold 8,328 shares of the stock in a transaction that occurred on Wednesday, August 21st. The stock was sold at an average price of $64.77, for a total value of $539,404.56. Following the completion of the sale, the insider now directly owns 580,086 shares of the company’s stock, valued at approximately $37,572,170.22. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 24,714 shares of company stock worth $1,606,992. Company insiders own 10.49% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on SQ shares. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $88.00 target price on shares of Block in a report on Monday, October 21st. Morgan Stanley cut their target price on shares of Block from $60.00 to $55.00 and set an “underweight” rating for the company in a research note on Tuesday, July 30th. UBS Group decreased their price target on Block from $100.00 to $92.00 and set a “buy” rating on the stock in a research report on Tuesday, August 27th. Needham & Company LLC lifted their price objective on Block from $80.00 to $90.00 and gave the company a “buy” rating in a research report on Friday. Finally, Oppenheimer began coverage on Block in a research note on Tuesday, October 1st. They issued a “market perform” rating for the company. One analyst has rated the stock with a sell rating, five have assigned a hold rating, twenty-three have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $90.37.

Block Stock Performance

Shares of SQ stock opened at $83.41 on Tuesday. The company has a current ratio of 1.82, a quick ratio of 1.82 and a debt-to-equity ratio of 0.26. Block, Inc. has a 12 month low of $50.86 and a 12 month high of $87.52. The business’s 50-day moving average price is $68.86 and its 200-day moving average price is $66.92. The firm has a market capitalization of $51.35 billion, a price-to-earnings ratio of 46.86, a PEG ratio of 1.02 and a beta of 2.48.

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.