12,529 Shares in Block, Inc. (NYSE:SQ) Bought by Alpha Cubed Investments LLC

Alpha Cubed Investments LLC purchased a new position in shares of Block, Inc. (NYSE:SQ) during the 4th quarter, Holdings Channel reports. The institutional investor purchased 12,529 shares of the technology company’s stock, valued at approximately $1,065,000.

Several other hedge funds also recently made changes to their positions in SQ. TB Alternative Assets Ltd. acquired a new position in shares of Block in the 4th quarter valued at about $3,530,000. Perpetual Ltd bought a new position in Block in the fourth quarter worth about $10,779,000. Legal Advantage Investments Inc. boosted its stake in Block by 13.2% in the fourth quarter. Legal Advantage Investments Inc. now owns 23,160 shares of the technology company’s stock valued at $1,968,000 after acquiring an additional 2,700 shares during the period. Ballentine Partners LLC grew its holdings in shares of Block by 18.1% during the fourth quarter. Ballentine Partners LLC now owns 7,592 shares of the technology company’s stock valued at $645,000 after purchasing an additional 1,162 shares during the last quarter. Finally, Ulland Investment Advisors LLC lifted its holdings in shares of Block by 92.3% in the 4th quarter. Ulland Investment Advisors LLC now owns 2,135 shares of the technology company’s stock worth $181,000 after purchasing an additional 1,025 shares during the last quarter. Institutional investors and hedge funds own 70.44% of the company’s stock.

Block Stock Up 0.7 %

SQ opened at $87.00 on Tuesday. Block, Inc. has a twelve month low of $55.00 and a twelve month high of $99.26. The company has a debt-to-equity ratio of 0.26, a quick ratio of 2.07 and a current ratio of 2.07. The business has a 50 day moving average price of $89.61 and a 200 day moving average price of $74.82. The firm has a market cap of $53.92 billion, a P/E ratio of 48.88, a price-to-earnings-growth ratio of 0.79 and a beta of 2.51.

Analysts Set New Price Targets

A number of research analysts recently issued reports on the company. Macquarie boosted their price objective on Block from $100.00 to $110.00 and gave the company an “outperform” rating in a research report on Tuesday, December 10th. The Goldman Sachs Group increased their price objective on Block from $87.00 to $102.00 and gave the stock a “buy” rating in a report on Monday, December 2nd. Raymond James raised Block from a “market perform” rating to an “outperform” rating and set a $115.00 target price on the stock in a research note on Friday, January 3rd. Barclays increased their price target on Block from $100.00 to $112.00 and gave the stock an “overweight” rating in a research note on Tuesday, December 17th. Finally, William Blair reaffirmed an “outperform” rating on shares of Block in a research note on Friday, November 15th. One analyst has rated the stock with a sell rating, five have issued a hold rating and twenty-seven have issued a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $97.68.

Insider Transactions at Block

In other news, insider Brian Grassadonia sold 8,328 shares of the company’s stock in a transaction that occurred on Thursday, November 21st. The stock was sold at an average price of $91.18, for a total transaction of $759,347.04. Following the completion of the transaction, the insider now directly owns 563,894 shares in the company, valued at $51,415,854.92. The trade was a 1.46 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CAO Ajmere Dale sold 1,000 shares of the firm’s stock in a transaction on Monday, November 11th. The stock was sold at an average price of $80.00, for a total transaction of $80,000.00. Following the completion of the sale, the chief accounting officer now owns 88,791 shares in the company, valued at approximately $7,103,280. The trade was a 1.11 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 29,981 shares of company stock worth $2,681,185. 10.49% of the stock is owned by insiders.

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.