Avidian Wealth Enterprises LLC Raises Holdings in Block, Inc. (NYSE:SQ)

Avidian Wealth Enterprises LLC boosted its stake in shares of Block, Inc. (NYSE:SQ) by 8.0% in the 3rd quarter, Holdings Channel reports. The fund owned 4,446 shares of the technology company’s stock after buying an additional 331 shares during the period. Avidian Wealth Enterprises LLC’s holdings in Block were worth $298,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors also recently bought and sold shares of SQ. LRI Investments LLC acquired a new position in shares of Block in the 1st quarter valued at $34,000. Unique Wealth Strategies LLC acquired a new position in shares of Block in the second quarter worth about $34,000. Migdal Insurance & Financial Holdings Ltd. purchased a new stake in shares of Block during the 2nd quarter worth about $44,000. V Square Quantitative Management LLC acquired a new stake in shares of Block during the 3rd quarter valued at about $46,000. Finally, Hobbs Group Advisors LLC purchased a new position in shares of Block in the 2nd quarter valued at about $49,000. 70.44% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

SQ has been the topic of a number of recent analyst reports. Deutsche Bank Aktiengesellschaft increased their price target on Block from $90.00 to $98.00 and gave the stock a “buy” rating in a research report on Friday, July 12th. Wells Fargo & Company dropped their price target on shares of Block from $95.00 to $85.00 and set an “overweight” rating on the stock in a research note on Friday, August 2nd. Benchmark restated a “buy” rating and set a $99.00 price objective on shares of Block in a research report on Friday, August 2nd. Needham & Company LLC dropped their target price on shares of Block from $105.00 to $80.00 and set a “buy” rating on the stock in a research report on Monday, August 5th. Finally, Macquarie restated an “outperform” rating and set a $100.00 price target on shares of Block in a research report on Friday, July 26th. One analyst has rated the stock with a sell rating, five have issued a hold rating, twenty-three have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $89.96.

Insider Activity at Block

In other Block news, 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 transaction of $30,940.00. Following the completion of the transaction, the chief accounting officer now owns 92,366 shares of the company’s stock, valued at $5,715,608.08. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In other news, CAO Ajmere Dale sold 500 shares of the firm’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 in the company, valued at $5,715,608.08. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Brian Grassadonia sold 8,328 shares of Block stock in a transaction on Wednesday, August 21st. The shares were sold at an average price of $64.77, for a total value of $539,404.56. Following the completion of the sale, the insider now directly owns 580,086 shares of the company’s stock, valued at $37,572,170.22. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 25,214 shares of company stock worth $1,637,932. Company insiders own 10.49% of the company’s stock.

Block Stock Performance

Shares of Block stock opened at $75.17 on Friday. The firm has a market cap of $46.28 billion, a PE ratio of 58.73, a price-to-earnings-growth ratio of 0.99 and a beta of 2.48. The company has a quick ratio of 1.82, a current ratio of 1.82 and a debt-to-equity ratio of 0.26. Block, Inc. has a 52 week low of $50.63 and a 52 week high of $87.52. The business’s fifty day simple moving average is $68.52 and its 200-day simple moving average is $66.95.

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.