Raymond James Trust N.A. Sells 6,855 Shares of Block, Inc. (NYSE:SQ)

Raymond James Trust N.A. trimmed its position in Block, Inc. (NYSE:SQ) by 36.5% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 11,904 shares of the technology company’s stock after selling 6,855 shares during the quarter. Raymond James Trust N.A.’s holdings in Block were worth $799,000 at the end of the most recent reporting period.

Several other large investors have also recently made changes to their positions in the company. Eagle Asset Management Inc. grew its position in Block by 12.1% in the third quarter. Eagle Asset Management Inc. now owns 56,848 shares of the technology company’s stock worth $4,239,000 after acquiring an additional 6,128 shares in the last quarter. Charles Schwab Investment Management Inc. grew its position in Block by 2.1% in the third quarter. Charles Schwab Investment Management Inc. now owns 2,202,388 shares of the technology company’s stock worth $147,846,000 after acquiring an additional 45,472 shares in the last quarter. Massachusetts Financial Services Co. MA grew its position in Block by 770.0% in the third quarter. Massachusetts Financial Services Co. MA now owns 1,738,708 shares of the technology company’s stock worth $116,719,000 after acquiring an additional 1,538,849 shares in the last quarter. Landscape Capital Management L.L.C. purchased a new position in Block in the third quarter worth about $2,871,000. Finally, Moors & Cabot Inc. grew its position in Block by 3.0% in the third quarter. Moors & Cabot Inc. now owns 6,440 shares of the technology company’s stock worth $432,000 after acquiring an additional 187 shares in the last quarter. 70.44% of the stock is owned by institutional investors.

Block Stock Performance

Shares of SQ stock opened at $92.26 on Monday. Block, Inc. has a 12-month low of $55.00 and a 12-month high of $94.12. The company has a current ratio of 2.07, a quick ratio of 2.07 and a debt-to-equity ratio of 0.26. The company has a market cap of $57.18 billion, a PE ratio of 51.83, a PEG ratio of 1.25 and a beta of 2.48. The business’s fifty day simple moving average is $73.83 and its 200-day simple moving average is $68.07.

Insider Buying and Selling at Block

In other news, insider Chrysty Esperanza sold 2,964 shares of the stock in a transaction dated Monday, November 11th. The shares were sold at an average price of $80.00, for a total transaction of $237,120.00. Following the sale, the insider now directly owns 88,607 shares of the company’s stock, valued at $7,088,560. This represents a 3.24 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Brian Grassadonia sold 1,884 shares of the stock in a transaction dated Wednesday, October 2nd. The stock was sold at an average price of $65.41, for a total transaction of $123,232.44. Following the sale, the insider now directly owns 574,914 shares in the company, valued at approximately $37,605,124.74. The trade was a 0.33 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 12,283 shares of company stock valued at $862,773. 10.49% of the stock is owned by insiders.

Analysts Set New Price Targets

Several research analysts have issued reports on SQ shares. UBS Group dropped their target price on Block from $100.00 to $92.00 and set a “buy” rating for the company in a research report on Tuesday, August 27th. Royal Bank of Canada restated an “outperform” rating and set a $88.00 target price on shares of Block in a research report on Monday, October 21st. Morgan Stanley dropped their target price on Block from $60.00 to $55.00 and set an “underweight” rating for the company in a research report on Tuesday, July 30th. New Street Research assumed coverage on Block in a research report on Monday, September 9th. They set a “neutral” rating and a $70.00 target price for the company. Finally, Keefe, Bruyette & Woods boosted their price target on Block from $71.00 to $80.00 and gave the company a “market perform” rating in a report on Friday, November 8th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and twenty-four have assigned a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $91.18.

Block 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.