Friedenthal Financial Purchases New Stake in Block, Inc. (NYSE:SQ)

Friedenthal Financial acquired a new position in shares of Block, Inc. (NYSE:SQFree Report) during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 8,750 shares of the technology company’s stock, valued at approximately $744,000.

Several other hedge funds have also recently bought and sold shares of SQ. Acadian Asset Management LLC bought a new position in shares of Block in the 2nd quarter valued at $443,000. LPL Financial LLC boosted its stake in Block by 10.1% in the second quarter. LPL Financial LLC now owns 526,501 shares of the technology company’s stock valued at $33,954,000 after buying an additional 48,107 shares in the last quarter. Meeder Advisory Services Inc. boosted its stake in Block by 48.2% in the second quarter. Meeder Advisory Services Inc. now owns 7,266 shares of the technology company’s stock valued at $469,000 after buying an additional 2,363 shares in the last quarter. Federated Hermes Inc. grew its position in Block by 1.8% in the second quarter. Federated Hermes Inc. now owns 196,456 shares of the technology company’s stock valued at $12,669,000 after acquiring an additional 3,479 shares during the last quarter. Finally, Envestnet Asset Management Inc. raised its stake in Block by 5.4% during the second quarter. Envestnet Asset Management Inc. now owns 266,067 shares of the technology company’s stock worth $17,159,000 after acquiring an additional 13,649 shares in the last quarter. 70.44% of the stock is owned by institutional investors.

Insider Activity

In other Block news, CAO Ajmere Dale sold 1,000 shares of Block stock in a transaction on Monday, November 11th. The shares were sold at an average price of $80.00, for a total transaction of $80,000.00. Following the transaction, the chief accounting officer now directly owns 88,791 shares of the company’s stock, valued at $7,103,280. The trade was a 1.11 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Owen Britton Jennings sold 2,836 shares of the business’s stock in a transaction dated Thursday, January 2nd. The stock was sold at an average price of $89.38, for a total transaction of $253,481.68. Following the transaction, the insider now owns 195,449 shares in the company, valued at approximately $17,469,231.62. This trade represents a 1.43 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 29,981 shares of company stock worth $2,681,185 over the last three months. 10.49% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on SQ shares. Barclays upped their price objective on shares of Block from $100.00 to $112.00 and gave the stock an “overweight” rating in a research report on Tuesday, December 17th. Piper Sandler reiterated an “overweight” rating and issued a $83.00 price target on shares of Block in a research note on Monday, November 11th. Keefe, Bruyette & Woods cut their price objective on Block from $105.00 to $100.00 and set a “market perform” rating on the stock in a report on Monday, January 6th. Monness Crespi & Hardt raised Block from a “neutral” rating to a “buy” rating and set a $115.00 target price for the company in a report on Friday, December 13th. Finally, Oppenheimer raised Block from a “market perform” rating to an “outperform” rating and set a $115.00 price target on the stock in a research note on Thursday, December 19th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and twenty-seven have assigned a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $96.77.

Read Our Latest Stock Analysis on Block

Block Stock Down 0.5 %

NYSE SQ traded down $0.39 during mid-day trading on Monday, hitting $82.15. The company’s stock had a trading volume of 6,523,264 shares, compared to its average volume of 6,908,747. 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’s 50 day simple moving average is $88.60 and its 200 day simple moving average is $74.10. Block, Inc. has a twelve month low of $55.00 and a twelve month high of $99.26. The firm has a market capitalization of $50.92 billion, a price-to-earnings ratio of 46.15, a PEG ratio of 1.23 and a beta of 2.51.

About Block

(Free Report)

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.

Read More

Want to see what other hedge funds are holding SQ? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Block, Inc. (NYSE:SQFree Report).

Institutional Ownership by Quarter for Block (NYSE:SQ)

Receive News & Ratings for Block Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Block and related companies with MarketBeat.com's FREE daily email newsletter.