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

Signal Advisors Wealth LLC cut its stake in Block, Inc. (NYSE:SQ) by 12.5% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 15,279 shares of the technology company’s stock after selling 2,187 shares during the quarter. Signal Advisors Wealth LLC’s holdings in Block were worth $1,299,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Acadian Asset Management LLC purchased a new position in shares of Block in the second quarter valued at $443,000. LPL Financial LLC lifted its holdings in Block by 10.1% in the 2nd quarter. LPL Financial LLC now owns 526,501 shares of the technology company’s stock worth $33,954,000 after buying an additional 48,107 shares in the last quarter. Federated Hermes Inc. boosted its position in Block by 1.8% in the 2nd quarter. Federated Hermes Inc. now owns 196,456 shares of the technology company’s stock valued at $12,669,000 after buying an additional 3,479 shares during the last quarter. Envestnet Asset Management Inc. grew its stake in shares of Block by 5.4% during the second quarter. Envestnet Asset Management Inc. now owns 266,067 shares of the technology company’s stock valued at $17,159,000 after acquiring an additional 13,649 shares in the last quarter. Finally, Brown Brothers Harriman & Co. grew its stake in shares of Block by 54.5% during the second quarter. Brown Brothers Harriman & Co. now owns 14,168 shares of the technology company’s stock valued at $914,000 after acquiring an additional 5,000 shares in the last quarter. Institutional investors and hedge funds own 70.44% of the company’s stock.

Block Price Performance

Shares of NYSE:SQ opened at $82.45 on Wednesday. The firm’s 50 day moving average is $88.99 and its two-hundred day moving average is $74.36. The firm has a market capitalization of $51.10 billion, a P/E ratio of 46.32, a PEG ratio of 1.23 and a beta of 2.51. The company has a current ratio of 2.07, a quick ratio of 2.07 and a debt-to-equity ratio of 0.26. Block, Inc. has a 52 week low of $55.00 and a 52 week high of $99.26.

Analysts Set New Price Targets

A number of brokerages recently commented on SQ. Piper Sandler reissued an “overweight” rating and issued a $83.00 price target on shares of Block in a report on Monday, November 11th. Sanford C. Bernstein increased their target price on Block from $90.00 to $120.00 and gave the company an “outperform” rating in a research note on Monday, December 2nd. Morgan Stanley lifted their price target on shares of Block from $60.00 to $65.00 and gave the stock an “underweight” rating in a research note on Wednesday, December 18th. Keefe, Bruyette & Woods reduced their price objective on shares of Block from $105.00 to $100.00 and set a “market perform” rating on the stock in a research note on Monday, January 6th. Finally, BNP Paribas downgraded shares of Block from an “outperform” rating to a “neutral” rating and set a $88.00 target price for the company. in a research report on Wednesday, November 20th. One analyst has rated the stock with a sell rating, five have assigned a hold rating and twenty-seven have given a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $97.35.

Insider Buying and Selling

In other Block news, CFO Amrita Ahuja sold 1,502 shares of the business’s stock in a transaction dated Thursday, January 2nd. The shares were sold at an average price of $86.52, for a total transaction of $129,953.04. Following the sale, the chief financial officer now directly owns 242,199 shares in the company, valued at approximately $20,955,057.48. The trade was a 0.62 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 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 transaction of $80,000.00. Following the completion of the transaction, the chief accounting officer now owns 88,791 shares of the company’s stock, valued at $7,103,280. This trade represents a 1.11 % decrease in their ownership of the stock. 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 three months. 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.