Allspring Global Investments Holdings LLC Has $284,000 Stock Position in Block, Inc. (NYSE:SQ)

Allspring Global Investments Holdings LLC increased its position in shares of Block, Inc. (NYSE:SQ) by 2,498.8% in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 4,262 shares of the technology company’s stock after purchasing an additional 4,098 shares during the quarter. Allspring Global Investments Holdings LLC’s holdings in Block were worth $284,000 at the end of the most recent quarter.

Other hedge funds have also made changes to their positions in the company. Strategic Investment Solutions Inc. IL acquired a new stake in shares of Block during the 1st quarter worth about $31,000. MRP Capital Investments LLC increased its position in Block by 222.0% in the 1st quarter. MRP Capital Investments LLC now owns 805 shares of the technology company’s stock valued at $55,000 after acquiring an additional 555 shares in the last quarter. Tradition Wealth Management LLC increased its position in Block by 119.2% in the 1st quarter. Tradition Wealth Management LLC now owns 855 shares of the technology company’s stock valued at $59,000 after acquiring an additional 465 shares in the last quarter. City State Bank increased its position in Block by 262.7% in the 2nd quarter. City State Bank now owns 925 shares of the technology company’s stock valued at $62,000 after acquiring an additional 670 shares in the last quarter. Finally, Park Place Capital Corp increased its position in Block by 54.5% in the 1st quarter. Park Place Capital Corp now owns 1,120 shares of the technology company’s stock valued at $77,000 after acquiring an additional 395 shares in the last quarter. Institutional investors and hedge funds own 61.17% of the company’s stock.

Insider Activity

In related news, insider Brian Grassadonia sold 5,438 shares of the business’s stock in a transaction on Monday, October 2nd. The shares were sold at an average price of $44.29, for a total transaction of $240,849.02. Following the transaction, the insider now directly owns 297,914 shares in the company, valued at $13,194,611.06. The sale was disclosed in a filing with the SEC, which is available through this link. In related news, CFO Amrita Ahuja sold 3,369 shares of the business’s stock in a transaction on Monday, August 21st. The shares were sold at an average price of $56.49, for a total transaction of $190,314.81. Following the transaction, the chief financial officer now directly owns 230,723 shares in the company, valued at $13,033,542.27. The sale was disclosed in a filing with the SEC, which is available through this link. Also, insider Brian Grassadonia sold 5,438 shares of the business’s stock in a transaction on Monday, October 2nd. The stock was sold at an average price of $44.29, for a total transaction of $240,849.02. Following the transaction, the insider now owns 297,914 shares in the company, valued at $13,194,611.06. The disclosure for this sale can be found here. Insiders have sold 21,222 shares of company stock worth $1,006,326 over the last ninety days. Insiders own 10.79% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on SQ. Needham & Company LLC lifted their price target on shares of Block from $80.00 to $82.00 and gave the stock a “buy” rating in a research report on Friday, August 4th. Berenberg Bank began coverage on shares of Block in a research report on Monday, September 11th. They set a “buy” rating and a $75.00 price target for the company. BMO Capital Markets lowered their price target on shares of Block from $88.00 to $87.00 and set an “outperform” rating for the company in a research report on Friday, August 4th. StockNews.com upgraded shares of Block from a “sell” rating to a “hold” rating in a research report on Friday, November 3rd. Finally, Royal Bank of Canada lowered their price target on shares of Block from $90.00 to $77.00 and set an “outperform” rating for the company in a research report on Friday, November 3rd. Nine equities research analysts have rated the stock with a hold rating and twenty-two have issued a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $76.84.

Block Price Performance

NYSE SQ opened at $51.50 on Friday. The company has a quick ratio of 1.91, a current ratio of 1.91 and a debt-to-equity ratio of 0.23. Block, Inc. has a 12-month low of $38.85 and a 12-month high of $89.97. The company has a market capitalization of $31.42 billion, a PE ratio of -109.57 and a beta of 2.34. The firm’s 50 day moving average is $47.16 and its 200-day moving average is $58.24.

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.