United Advisor Group LLC Purchases Shares of 25,899 Block, Inc. (NYSE:SQ)

United Advisor Group LLC acquired a new stake in shares of Block, Inc. (NYSE:SQ) in the third quarter, according to the company in its most recent filing with the SEC. The firm acquired 25,899 shares of the technology company’s stock, valued at approximately $1,739,000.

Several other institutional investors and hedge funds have also modified their holdings of the stock. LRI Investments LLC purchased a new position in Block during the first quarter valued at approximately $34,000. Unique Wealth Strategies LLC acquired a new position in shares of Block in the 2nd quarter valued at $34,000. V Square Quantitative Management LLC purchased a new stake in Block during the third quarter worth $46,000. Migdal Insurance & Financial Holdings Ltd. acquired a new stake in Block during the second quarter valued at $44,000. Finally, Hobbs Group Advisors LLC purchased a new position in Block in the second quarter valued at $49,000. Institutional investors and hedge funds own 70.44% of the company’s stock.

Block Trading Up 0.7 %

Shares of SQ stock opened at $72.69 on Tuesday. Block, Inc. has a fifty-two week low of $48.15 and a fifty-two week high of $87.52. The company has a 50 day moving average price of $68.15 and a 200 day moving average price of $66.86. The stock has a market capitalization of $44.75 billion, a P/E ratio of 56.79, a price-to-earnings-growth ratio of 0.99 and a beta of 2.48. The company has a debt-to-equity ratio of 0.26, a quick ratio of 1.82 and a current ratio of 1.82.

Analyst Ratings Changes

SQ has been the subject of several recent analyst reports. Wells Fargo & Company cut their price target on Block from $95.00 to $85.00 and set an “overweight” rating for the company in a research note on Friday, August 2nd. Oppenheimer initiated coverage on Block in a research note on Tuesday, October 1st. They set a “market perform” rating for the company. Benchmark reissued a “buy” rating and issued a $99.00 price target on shares of Block in a research note on Friday, August 2nd. Needham & Company LLC reduced their price objective on shares of Block from $105.00 to $80.00 and set a “buy” rating for the company in a research report on Monday, August 5th. Finally, Macquarie reissued an “outperform” rating and set a $100.00 target price on shares of Block in a research note on Friday, July 26th. One analyst has rated the stock with a sell rating, five have issued a hold rating, twenty-four have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, Block currently has an average rating of “Moderate Buy” and a consensus target price of $88.79.

Insider Buying and Selling at Block

In related news, CAO Ajmere Dale sold 500 shares of the business’s stock in a transaction on Tuesday, August 13th. The stock was sold at an average price of $61.88, for a total transaction of $30,940.00. Following the completion of the transaction, the chief accounting officer now directly owns 92,366 shares of the company’s stock, valued at $5,715,608.08. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In other news, CFO Amrita Ahuja sold 6,661 shares of the company’s stock in a transaction dated Wednesday, August 21st. The stock was sold at an average price of $64.70, for a total transaction of $430,966.70. Following the completion of the transaction, the chief financial officer now directly owns 264,697 shares of the company’s stock, valued at approximately $17,125,895.90. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CAO Ajmere Dale sold 500 shares of the stock in a transaction dated Tuesday, August 13th. The shares were sold at an average price of $61.88, for a total value of $30,940.00. Following the completion of the transaction, the chief accounting officer now owns 92,366 shares in the company, valued at approximately $5,715,608.08. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 25,214 shares of company stock valued at $1,637,932 in the last 90 days. Company insiders own 10.49% of the company’s stock.

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.