Block, Inc. (NYSE:SQ) Shares Bought by Wealthcare Advisory Partners LLC

Wealthcare Advisory Partners LLC lifted its stake in shares of Block, Inc. (NYSE:SQ) by 9.8% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 8,065 shares of the technology company’s stock after acquiring an additional 717 shares during the period. Wealthcare Advisory Partners LLC’s holdings in Block were worth $685,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. SouthState Corp lifted its stake 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 during the period. Versant Capital Management Inc increased its stake in Block by 67.7% in the fourth quarter. Versant Capital Management Inc now owns 394 shares of the technology company’s stock valued at $33,000 after purchasing an additional 159 shares during the last quarter. True Wealth Design LLC lifted its position in Block by 64.7% during the third quarter. True Wealth Design LLC now owns 494 shares of the technology company’s stock worth $33,000 after buying an additional 194 shares during the period. V Square Quantitative Management LLC acquired a new stake in Block in the 3rd quarter worth about $46,000. Finally, Future Financial Wealth Managment LLC acquired a new stake in Block in the 3rd quarter worth about $57,000. Hedge funds and other institutional investors own 70.44% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on SQ shares. Wells Fargo & Company increased their price objective on shares of Block from $85.00 to $95.00 and gave the stock an “overweight” rating in a report on Thursday, January 16th. Barclays upped their price target 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. William Blair reiterated an “outperform” rating on shares of Block in a report on Friday, November 15th. Oppenheimer upgraded Block from a “market perform” rating to an “outperform” rating and set a $115.00 price objective for the company in a report on Thursday, December 19th. Finally, Morgan Stanley lifted their target price on Block from $60.00 to $65.00 and gave the company an “underweight” rating in a report on Wednesday, December 18th. One research 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. According to data from MarketBeat.com, Block currently has a consensus rating of “Moderate Buy” and a consensus target price of $97.68.

Insider Activity at Block

In other news, insider Owen Britton Jennings sold 2,836 shares of the business’s stock in a transaction that occurred on Thursday, January 2nd. The stock was sold at an average price of $89.38, for a total value of $253,481.68. Following the completion of the sale, the insider now directly owns 195,449 shares in the company, valued at approximately $17,469,231.62. The trade was a 1.43 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Chrysty Esperanza sold 2,964 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 value of $237,120.00. Following the transaction, the insider now owns 88,607 shares in the company, valued at $7,088,560. This trade represents a 3.24 % 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 ninety days. Corporate insiders own 10.49% of the company’s stock.

Block Stock Performance

Block stock opened at $87.00 on Tuesday. Block, Inc. has a 52 week low of $55.00 and a 52 week high of $99.26. 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 stock has a market cap of $53.92 billion, a P/E ratio of 48.88, a price-to-earnings-growth ratio of 0.75 and a beta of 2.51. The stock has a 50 day moving average of $89.61 and a 200-day moving average of $74.82.

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.