Sanctuary Advisors LLC Grows Stock Position in Block, Inc. (NYSE:SQ)

Sanctuary Advisors LLC boosted its stake in shares of Block, Inc. (NYSE:SQ) by 7.5% during the 3rd quarter, Holdings Channel.com reports. The firm owned 52,412 shares of the technology company’s stock after acquiring an additional 3,639 shares during the period. Sanctuary Advisors LLC’s holdings in Block were worth $3,518,000 as of its most recent SEC filing.

A number of other hedge funds also recently bought and sold shares of SQ. Hohimer Wealth Management LLC increased its stake in shares of Block by 3.8% during the third quarter. Hohimer Wealth Management LLC now owns 15,833 shares of the technology company’s stock worth $1,063,000 after buying an additional 580 shares during the period. TD Private Client Wealth LLC grew its holdings in Block by 15.8% during the 3rd quarter. TD Private Client Wealth LLC now owns 2,066 shares of the technology company’s stock worth $139,000 after acquiring an additional 282 shares in the last quarter. Teachers Retirement System of The State of Kentucky increased its position in shares of Block by 17.8% in the 3rd quarter. Teachers Retirement System of The State of Kentucky now owns 102,588 shares of the technology company’s stock valued at $6,886,000 after purchasing an additional 15,500 shares during the last quarter. Neo Ivy Capital Management purchased a new stake in shares of Block in the 3rd quarter valued at approximately $338,000. Finally, Geode Capital Management LLC raised its holdings in shares of Block by 1.6% in the 3rd quarter. Geode Capital Management LLC now owns 8,690,075 shares of the technology company’s stock valued at $581,923,000 after purchasing an additional 133,002 shares in the last quarter. Institutional investors and hedge funds own 70.44% of the company’s stock.

Block Stock Performance

Shares of SQ opened at $93.82 on Tuesday. The stock has a market capitalization of $58.15 billion, a P/E ratio of 52.71, a P/E/G ratio of 1.23 and a beta of 2.50. 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 1 year low of $55.00 and a 1 year high of $99.26. The company’s fifty day moving average is $82.35 and its two-hundred day moving average is $70.77.

Wall Street Analyst Weigh In

Several research firms recently commented on SQ. Sanford C. Bernstein increased their target price on Block from $90.00 to $120.00 and gave the company an “outperform” rating in a report on Monday, December 2nd. Oppenheimer started coverage on Block in a report on Tuesday, October 1st. They issued a “market perform” rating on the stock. UBS Group cut their target price on Block from $100.00 to $92.00 and set a “buy” rating on the stock in a research report on Tuesday, August 27th. Piper Sandler reaffirmed an “overweight” rating and issued a $83.00 price target on shares of Block in a report on Monday, November 11th. Finally, Needham & Company LLC raised their price objective on shares of Block from $80.00 to $90.00 and gave the stock a “buy” rating in a report on Friday, November 8th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and twenty-four have given a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $94.75.

Insider Activity

In related news, insider Brian Grassadonia sold 1,884 shares of the company’s stock in a transaction on Wednesday, October 2nd. The stock was sold at an average price of $65.41, for a total transaction of $123,232.44. Following the transaction, the insider now owns 574,914 shares of the company’s stock, valued at $37,605,124.74. This represents a 0.33 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CAO Ajmere Dale sold 500 shares of the firm’s stock in a transaction on Tuesday, October 1st. The shares were sold at an average price of $67.00, for a total value of $33,500.00. Following the completion of the sale, the chief accounting officer now directly owns 90,460 shares of the company’s stock, valued at approximately $6,060,820. This trade represents a 0.55 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 31,918 shares of company stock valued at $2,666,147 over the last quarter. Corporate 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.