Darwin Wealth Management LLC acquired a new position in shares of Block, Inc. (NYSE:SQ – Free Report) during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 1,109 shares of the technology company’s stock, valued at approximately $74,000.
Other institutional investors also recently modified their holdings of the company. SouthState Corp grew its holdings in shares of Block by 85.3% during the 3rd quarter. SouthState Corp now owns 391 shares of the technology company’s stock worth $26,000 after purchasing an additional 180 shares in the last quarter. LRI Investments LLC acquired a new stake in Block in the 1st quarter valued at $34,000. Unique Wealth Strategies LLC acquired a new stake in Block in the 2nd quarter valued at $34,000. V Square Quantitative Management LLC acquired a new stake in Block in the 3rd quarter valued at $46,000. Finally, Migdal Insurance & Financial Holdings Ltd. acquired a new stake in Block in the 2nd quarter valued at $44,000. Institutional investors and hedge funds own 70.44% of the company’s stock.
Analyst Upgrades and Downgrades
Several analysts recently commented on SQ shares. BNP Paribas lowered Block from an “outperform” rating to a “neutral” rating and set a $88.00 price target on the stock. in a research note on Wednesday. William Blair reiterated an “outperform” rating on shares of Block in a research report on Friday, November 15th. Macquarie reiterated an “outperform” rating and issued a $100.00 price objective on shares of Block in a research report on Friday, July 26th. Oppenheimer initiated coverage on Block in a research report on Tuesday, October 1st. They issued a “market perform” rating for the company. Finally, Piper Sandler reiterated an “overweight” rating and issued a $83.00 price objective on shares of Block in a research report on Monday, November 11th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and twenty-four have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $91.18.
Block Trading Down 3.0 %
Shares of SQ stock opened at $89.69 on Thursday. The stock’s fifty day moving average price is $72.68 and its two-hundred day moving average price is $67.82. The company has a market cap of $55.59 billion, a PE ratio of 50.39, a P/E/G ratio of 1.25 and a beta of 2.48. Block, Inc. has a fifty-two week low of $55.00 and a fifty-two week high of $93.00. The company has a debt-to-equity ratio of 0.26, a quick ratio of 2.07 and a current ratio of 2.07.
Insider Buying and Selling at Block
In related news, 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 transaction of $388,920.55. Following the sale, the chief financial officer now owns 255,496 shares of the company’s stock, valued at $16,742,652.88. This trade represents a 2.27 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CAO Ajmere Dale sold 500 shares of the firm’s stock in a transaction on Tuesday, October 1st. The shares were sold at an average price of $67.00, for a total value of $33,500.00. Following the sale, the chief accounting officer now directly owns 90,460 shares in the company, valued at approximately $6,060,820. This trade represents a 0.55 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 12,283 shares of company stock valued at $862,773. 10.49% of the stock is currently owned by corporate insiders.
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.
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