Harbor Investment Advisory LLC Boosts Stock Holdings in Block, Inc. (NYSE:SQ)

Harbor Investment Advisory LLC grew its stake in shares of Block, Inc. (NYSE:SQ) by 31.2% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 4,735 shares of the technology company’s stock after buying an additional 1,125 shares during the period. Harbor Investment Advisory LLC’s holdings in Block were worth $402,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in SQ. SouthState Corp grew its position in Block by 85.3% during the third quarter. SouthState Corp now owns 391 shares of the technology company’s stock valued at $26,000 after acquiring an additional 180 shares during the period. True Wealth Design LLC lifted its stake in shares of Block by 64.7% in the 3rd quarter. True Wealth Design LLC now owns 494 shares of the technology company’s stock valued at $33,000 after purchasing an additional 194 shares in the last quarter. Versant Capital Management Inc increased its position in Block by 67.7% during the 4th quarter. Versant Capital Management Inc now owns 394 shares of the technology company’s stock worth $33,000 after purchasing an additional 159 shares in the last quarter. MassMutual Private Wealth & Trust FSB raised its holdings in Block by 48.2% in the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 418 shares of the technology company’s stock valued at $36,000 after buying an additional 136 shares during the period. Finally, V Square Quantitative Management LLC acquired a new position in Block during the third quarter valued at approximately $46,000. 70.44% of the stock is currently owned by institutional investors and hedge funds.

Block Trading Up 0.8 %

Block stock opened at $87.08 on Wednesday. The company has a debt-to-equity ratio of 0.26, a quick ratio of 2.07 and a current ratio of 2.07. Block, Inc. has a 1 year low of $55.00 and a 1 year high of $99.26. The firm’s 50-day moving average is $89.68 and its 200-day moving average is $74.98. The company has a market cap of $53.97 billion, a P/E ratio of 48.92, a PEG ratio of 0.79 and a beta of 2.51.

Analysts Set New Price Targets

SQ has been the topic of a number of research reports. Needham & Company LLC raised their target price on shares of Block from $80.00 to $90.00 and gave the company a “buy” rating in a research note on Friday, November 8th. Royal Bank of Canada restated an “outperform” rating and set a $88.00 price objective on shares of Block in a research note on Monday, October 21st. BMO Capital Markets downgraded Block from an “outperform” rating to a “market perform” rating and upped their target price for the stock from $94.00 to $100.00 in a research report on Monday, November 25th. The Goldman Sachs Group raised their target price on Block from $87.00 to $102.00 and gave the company a “buy” rating in a report on Monday, December 2nd. Finally, Barclays upped their price target on Block from $100.00 to $112.00 and gave the stock an “overweight” rating in a report on Tuesday, December 17th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and twenty-seven have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $97.68.

Insiders Place Their Bets

In related news, CFO Amrita Ahuja sold 1,502 shares of Block stock in a transaction dated Thursday, January 2nd. The shares were sold at an average price of $86.52, for a total value of $129,953.04. Following the sale, the chief financial officer now directly owns 242,199 shares in the company, valued at $20,955,057.48. This trade represents a 0.62 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CAO Ajmere Dale sold 1,000 shares of the business’s stock in a transaction dated 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 ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 29,981 shares of company stock valued at $2,681,185 over the last quarter. Insiders own 10.49% of the company’s stock.

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.