13,280 Shares in Block, Inc. (NYSE:SQ) Acquired by Everence Capital Management Inc.

Everence Capital Management Inc. purchased a new stake in Block, Inc. (NYSE:SQ) during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor purchased 13,280 shares of the technology company’s stock, valued at approximately $1,129,000.

Several other hedge funds have also recently bought and sold shares of SQ. SouthState Corp raised its stake in shares of Block by 85.3% in the third 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. Versant Capital Management Inc raised its position in Block by 67.7% in 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 during the last quarter. True Wealth Design LLC boosted its stake in Block by 64.7% in the third quarter. True Wealth Design LLC now owns 494 shares of the technology company’s stock worth $33,000 after purchasing an additional 194 shares in the last quarter. V Square Quantitative Management LLC bought a new stake in shares of Block during the third quarter worth $46,000. Finally, Future Financial Wealth Managment LLC acquired a new stake in shares of Block in the third quarter valued at $57,000. 70.44% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other Block news, insider Brian Grassadonia sold 8,328 shares of Block stock in a transaction on Thursday, November 21st. The shares were sold at an average price of $91.18, for a total value of $759,347.04. Following the sale, the insider now directly owns 563,894 shares in the company, valued at approximately $51,415,854.92. The trade was a 1.46 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Chrysty Esperanza sold 2,964 shares of the stock in a transaction dated Monday, November 11th. The stock was sold at an average price of $80.00, for a total transaction of $237,120.00. Following the transaction, the insider now owns 88,607 shares of the company’s stock, valued at approximately $7,088,560. This represents a 3.24 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 23,599 shares of company stock worth $2,120,494 over the last ninety days. Insiders own 10.49% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on SQ shares. Piper Sandler reiterated an “overweight” rating and set a $83.00 price target on shares of Block in a research report on Monday, November 11th. Keefe, Bruyette & Woods raised their price target on shares of Block from $80.00 to $105.00 and gave the company a “market perform” rating in a report on Monday, December 9th. Macquarie upped their price objective on Block from $100.00 to $110.00 and gave the stock an “outperform” rating in a report on Tuesday, December 10th. Canaccord Genuity Group lifted their target price on Block from $95.00 to $120.00 and gave the company a “buy” rating in a research note on Tuesday, November 12th. Finally, Barclays upped their price target on Block from $100.00 to $112.00 and gave the company an “overweight” rating in a research note on Tuesday, December 17th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and twenty-seven have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $96.94.

Block Stock Up 6.2 %

Shares of Block stock opened at $92.16 on Friday. The firm has a market cap of $57.12 billion, a PE ratio of 51.78, a P/E/G ratio of 1.23 and a beta of 2.50. The business’s 50 day simple moving average is $87.20 and its 200 day simple moving average is $73.11. 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 $99.26.

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.