Johnson & White Wealth Management LLC Purchases Shares of 2,549 Block, Inc. (NYSE:SQ)

Johnson & White Wealth Management LLC purchased a new stake in Block, Inc. (NYSE:SQ) during the 4th quarter, Holdings Channel reports. The fund purchased 2,549 shares of the technology company’s stock, valued at approximately $221,000.

Other institutional investors and hedge funds have also modified their holdings of the company. SouthState Corp increased its position in shares of Block by 85.3% in the third quarter. SouthState Corp now owns 391 shares of the technology company’s stock worth $26,000 after acquiring an additional 180 shares in the last quarter. True Wealth Design LLC grew its holdings in Block by 64.7% during 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 grew its holdings in Block by 67.7% during the 4th 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 in the last quarter. V Square Quantitative Management LLC bought a new position in Block during the 3rd quarter valued at $46,000. Finally, Future Financial Wealth Managment LLC bought a new position in Block during the 3rd quarter valued at $57,000. Hedge funds and other institutional investors own 70.44% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have commented on SQ shares. Barclays increased their price objective on shares of Block from $100.00 to $112.00 and gave the company an “overweight” rating in a research note on Tuesday, December 17th. Sanford C. Bernstein lifted their price objective on shares of Block from $90.00 to $120.00 and gave the company an “outperform” rating in a research report on Monday, December 2nd. Morgan Stanley raised their price objective on shares of Block from $60.00 to $65.00 and gave the company an “underweight” rating in a research note on Wednesday, December 18th. BMO Capital Markets lowered shares of Block from an “outperform” rating to a “market perform” rating and raised their price objective for the company from $94.00 to $100.00 in a research note on Monday, November 25th. Finally, William Blair reiterated an “outperform” rating on shares of Block in a research note on Friday, November 15th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and twenty-seven have issued a buy rating to the company. Based on data from MarketBeat, Block currently has a consensus rating of “Moderate Buy” and an average target price of $96.77.

Insider Transactions at Block

In other Block news, CAO Ajmere Dale sold 1,000 shares of the company’s 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 owns 88,791 shares of the company’s stock, valued at approximately $7,103,280. This represents a 1.11 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Owen Britton Jennings sold 2,836 shares of the company’s stock in a transaction that occurred on Thursday, January 2nd. The shares were sold at an average price of $89.38, for a total transaction of $253,481.68. Following the completion of the sale, the insider now directly owns 195,449 shares of the company’s stock, valued at $17,469,231.62. The trade was a 1.43 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 29,981 shares of company stock worth $2,681,185. Corporate insiders own 10.49% of the company’s stock.

Block Price Performance

Shares of SQ stock opened at $82.15 on Tuesday. 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 $88.79 and its 200-day moving average is $74.23. The firm has a market capitalization of $50.92 billion, a price-to-earnings ratio of 46.15, 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 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.