Block, Inc. (NYSE:SQ) Shares Acquired by True Wealth Design LLC

True Wealth Design LLC boosted its position in Block, Inc. (NYSE:SQ) by 64.7% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 494 shares of the technology company’s stock after purchasing an additional 194 shares during the period. True Wealth Design LLC’s holdings in Block were worth $33,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in SQ. SouthState Corp lifted its holdings in Block by 85.3% in the 3rd 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 last quarter. Unique Wealth Strategies LLC bought a new stake in shares of Block in the 2nd quarter worth approximately $34,000. Migdal Insurance & Financial Holdings Ltd. acquired a new stake in Block during the second quarter valued at approximately $44,000. V Square Quantitative Management LLC bought a new stake in Block during the third quarter worth approximately $46,000. Finally, LRI Investments LLC grew its position in Block by 85.3% in the second quarter. LRI Investments LLC now owns 741 shares of the technology company’s stock worth $48,000 after buying an additional 341 shares during the last quarter. 70.44% of the stock is owned by institutional investors.

Insider Buying and Selling

In other news, CFO Amrita Ahuja sold 6,661 shares of Block stock in a transaction that occurred on Thursday, November 21st. The shares were sold at an average price of $91.43, for a total value of $609,015.23. Following the transaction, the chief financial officer now owns 246,967 shares of the company’s stock, valued at $22,580,192.81. This trade represents a 2.63 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CAO Ajmere Dale sold 500 shares of the company’s stock in a transaction on Tuesday, October 1st. The stock was sold at an average price of $67.00, for a total transaction of $33,500.00. Following the sale, the chief accounting officer now directly owns 90,460 shares of the company’s stock, valued at approximately $6,060,820. This represents a 0.55 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 29,053 shares of company stock worth $2,393,972. 10.49% of the stock is currently owned by insiders.

Block Stock Performance

Shares of NYSE SQ opened at $88.55 on Monday. The business’s 50-day simple moving average is $76.03 and its 200-day simple moving average is $68.70. 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 52 week low of $55.00 and a 52 week high of $94.12. The firm has a market cap of $54.88 billion, a price-to-earnings ratio of 49.75, a P/E/G ratio of 1.19 and a beta of 2.48.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on SQ. BMO Capital Markets lowered Block from an “outperform” rating to a “market perform” rating and raised their price objective for the stock from $94.00 to $100.00 in a research note on Monday, November 25th. New Street Research began coverage on Block in a research note on Monday, September 9th. They issued a “neutral” rating and a $70.00 price target on the stock. Royal Bank of Canada reaffirmed an “outperform” rating and set a $88.00 price objective on shares of Block in a research note on Monday, October 21st. BNP Paribas downgraded shares of Block from an “outperform” rating to a “neutral” rating and set a $88.00 target price on the stock. in a research report on Wednesday, November 20th. Finally, Needham & Company LLC upped their price target on shares of Block from $80.00 to $90.00 and gave the company a “buy” rating in a research report on Friday, November 8th. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and twenty-three have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $91.46.

About Block

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.