Block, Inc. (NYSE:SQ) Shares Sold by Octavia Wealth Advisors LLC

Octavia Wealth Advisors LLC decreased its holdings in shares of Block, Inc. (NYSE:SQ) by 6.1% in the 4th quarter, Holdings Channel.com reports. The institutional investor owned 2,936 shares of the technology company’s stock after selling 192 shares during the quarter. Octavia Wealth Advisors LLC’s holdings in Block were worth $250,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the stock. Baillie Gifford & Co. lifted its position in Block by 1.5% during the 3rd quarter. Baillie Gifford & Co. now owns 10,233,102 shares of the technology company’s stock worth $686,948,000 after acquiring an additional 147,873 shares during the period. Geode Capital Management LLC increased its holdings in Block by 1.6% in the third quarter. Geode Capital Management LLC now owns 8,690,075 shares of the technology company’s stock valued at $581,923,000 after buying an additional 133,002 shares in the last quarter. Lone Pine Capital LLC lifted its position in shares of Block by 13.9% during 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 acquiring an additional 934,588 shares during the period. Charles Schwab Investment Management Inc. boosted its stake in shares of Block by 2.1% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 2,202,388 shares of the technology company’s stock worth $147,846,000 after acquiring an additional 45,472 shares in the last quarter. Finally, Massachusetts Financial Services Co. MA grew its holdings in shares of 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 worth $116,719,000 after acquiring an additional 1,538,849 shares during the period. Hedge funds and other institutional investors own 70.44% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on SQ. Piper Sandler restated an “overweight” rating and issued a $83.00 price target on shares of Block in a report on Monday, November 11th. Canaccord Genuity Group upped their price target on Block from $95.00 to $120.00 and gave the stock a “buy” rating in a report on Tuesday, November 12th. BMO Capital Markets cut Block from an “outperform” rating to a “market perform” rating and upped their price target for the stock from $94.00 to $100.00 in a report on Monday, November 25th. Morgan Stanley upped their price target on Block from $60.00 to $65.00 and gave the stock an “underweight” rating in a report on Wednesday, December 18th. Finally, Monness Crespi & Hardt upgraded Block from a “neutral” rating to a “buy” rating and set a $115.00 target price on the stock in a report on Friday, December 13th. One analyst has rated the stock with a sell rating, five have given a hold rating and twenty-seven have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $97.68.

Block Price Performance

Shares of SQ opened at $87.08 on Wednesday. The stock has a market capitalization of $53.97 billion, a P/E ratio of 48.92, a P/E/G ratio of 0.79 and a beta of 2.51. Block, Inc. has a twelve month low of $55.00 and a twelve month high of $99.26. The company has a 50 day moving average of $89.68 and a 200-day moving average of $74.98. The company has a quick ratio of 2.07, a current ratio of 2.07 and a debt-to-equity ratio of 0.26.

Insider Transactions at Block

In other news, CFO Amrita Ahuja sold 1,502 shares of the stock in a transaction that occurred on Thursday, January 2nd. The stock was sold at an average price of $86.52, for a total value of $129,953.04. Following the completion of the sale, the chief financial officer now owns 242,199 shares of the company’s stock, valued at approximately $20,955,057.48. This represents a 0.62 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CAO Ajmere Dale sold 1,000 shares of the stock in a transaction that occurred on Monday, November 11th. The shares were sold at an average price of $80.00, for a total value of $80,000.00. Following the completion of the sale, the chief accounting officer now directly owns 88,791 shares of the company’s stock, 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. Insiders sold 29,981 shares of company stock valued at $2,681,185 in the last ninety days. 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.