Nomura Asset Management Co. Ltd. Has $17.04 Million Stock Position in Block, Inc. (NYSE:SQ)

Nomura Asset Management Co. Ltd. increased its holdings in shares of Block, Inc. (NYSE:SQ - Free Report) by 6.2% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 253,787 shares of the technology company's stock after acquiring an additional 14,822 shares during the quarter. Nomura Asset Management Co. Ltd.'s holdings in Block were worth $17,037,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also bought and sold shares of the business. Baillie Gifford & Co. increased its position in shares of Block by 45.7% in the second quarter. Baillie Gifford & Co. now owns 10,085,229 shares of the technology company's stock worth $650,396,000 after purchasing an additional 3,163,975 shares during the period. Southpoint Capital Advisors LP acquired a new stake in Block during the third quarter worth about $114,121,000. Massachusetts Financial Services Co. MA increased its holdings in Block by 770.0% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 1,738,708 shares of the technology company's stock valued at $116,719,000 after buying an additional 1,538,849 shares during the period. Lone Pine Capital LLC raised its position in shares of Block by 13.9% in the 2nd quarter. Lone Pine Capital LLC now owns 7,670,523 shares of the technology company's stock valued at $494,672,000 after buying an additional 934,588 shares in the last quarter. Finally, D1 Capital Partners L.P. lifted its holdings in shares of Block by 76.7% during the 2nd quarter. D1 Capital Partners L.P. now owns 1,831,342 shares of the technology company's stock worth $118,103,000 after acquiring an additional 795,000 shares during the period. Institutional investors and hedge funds own 70.44% of the company's stock.

Wall Street Analyst Weigh In

Several research analysts have commented on SQ shares. Sanford C. Bernstein boosted their price objective on shares of Block from $90.00 to $120.00 and gave the company an "outperform" rating in a research report on Monday, December 2nd. Piper Sandler reissued an "overweight" rating and set a $83.00 price target on shares of Block in a report on Monday, November 11th. New Street Research began coverage on Block in a research report on Monday, September 9th. They set a "neutral" rating and a $70.00 price objective for the company. BMO Capital Markets cut Block from an "outperform" rating to a "market perform" rating and lifted their target price for the company from $94.00 to $100.00 in a research report on Monday, November 25th. Finally, William Blair reissued an "outperform" rating on shares of Block in a report on Friday, November 15th. One analyst has rated the stock with a sell rating, seven have given a hold rating and twenty-three have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average price target of $94.21.

Insider Buying and Selling

In other news, insider Brian Grassadonia sold 1,884 shares of the stock in a transaction dated Wednesday, October 2nd. The shares were sold at an average price of $65.41, for a total transaction of $123,232.44. Following the transaction, the insider now owns 574,914 shares of the company's stock, valued at $37,605,124.74. This represents a 0.33 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Chrysty Esperanza sold 2,865 shares of the business's stock in a transaction dated Monday, December 2nd. The shares were sold at an average price of $95.00, for a total value of $272,175.00. Following the completion of the sale, the insider now directly owns 85,235 shares of the company's stock, valued at $8,097,325. The trade was a 3.25 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 31,918 shares of company stock valued at $2,666,147 over the last 90 days. Company insiders own 10.49% of the company's stock.

Block Trading Up 4.5 %

Block stock traded up $4.19 during trading hours on Wednesday, reaching $98.24. 7,680,065 shares of the company's stock were exchanged, compared to its average volume of 8,266,135. The firm has a market capitalization of $60.89 billion, a PE ratio of 55.16, a PEG ratio of 1.31 and a beta of 2.50. The company has a quick ratio of 2.07, a current ratio of 2.07 and a debt-to-equity ratio of 0.26. The firm's 50 day simple moving average is $80.06 and its 200 day simple moving average is $69.96. Block, Inc. has a twelve month low of $55.00 and a twelve month high of $99.26.

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.