Westwood Wealth Management trimmed its position in Block, Inc. (NYSE:SQ – Free Report) by 21.9% in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 3,560 shares of the technology company’s stock after selling 1,000 shares during the quarter. Westwood Wealth Management’s holdings in Block were worth $230,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds have also recently modified their holdings of the company. Riverview Trust Co acquired a new stake in Block during the 1st quarter worth about $28,000. YHB Investment Advisors Inc. acquired a new stake in Block during the first quarter worth about $33,000. Vima LLC acquired a new stake in Block during the fourth quarter worth about $34,000. LRI Investments LLC purchased a new position in Block during the first quarter valued at approximately $34,000. Finally, Unique Wealth Strategies LLC acquired a new position in Block in the second quarter valued at approximately $34,000. Institutional investors and hedge funds own 70.44% of the company’s stock.
Block Stock Up 0.5 %
SQ stock opened at $67.82 on Tuesday. The stock has a market cap of $41.85 billion, a P/E ratio of 88.08, a PEG ratio of 1.15 and a beta of 2.49. The company has a current ratio of 1.82, a quick ratio of 1.82 and a debt-to-equity ratio of 0.26. Block, Inc. has a twelve month low of $38.85 and a twelve month high of $87.52. The company’s 50 day moving average is $64.16 and its two-hundred day moving average is $68.90.
Wall Street Analysts Forecast Growth
Several equities analysts recently issued reports on the stock. Benchmark reissued a “buy” rating and set a $99.00 price target on shares of Block in a report on Friday, August 2nd. The Goldman Sachs Group reissued a “buy” rating and issued a $80.00 price objective on shares of Block in a report on Monday, June 24th. BMO Capital Markets boosted their price target on shares of Block from $92.00 to $93.00 and gave the stock an “outperform” rating in a report on Friday, August 2nd. William Blair upgraded shares of Block to a “strong-buy” rating in a research report on Wednesday, July 31st. Finally, Keefe, Bruyette & Woods decreased their price target on shares of Block from $82.00 to $74.00 and set a “market perform” rating on the stock in a research note on Monday, July 8th. One research analyst has rated the stock with a sell rating, six have given a hold rating, twenty-four have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, Block presently has an average rating of “Moderate Buy” and an average target price of $87.34.
Read Our Latest Research Report on Block
Insider Buying and Selling at Block
In related news, Director Roelof Botha bought 434,405 shares of the stock in a transaction on Tuesday, August 6th. The shares were bought at an average cost of $57.55 per share, for a total transaction of $25,000,007.75. Following the purchase, the director now owns 434,405 shares of the company’s stock, valued at approximately $25,000,007.75. The acquisition was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other news, CAO Ajmere Dale sold 500 shares of the business’s 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 transaction, the chief accounting officer now directly owns 92,366 shares in the company, valued at $5,715,608.08. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Roelof Botha acquired 434,405 shares of Block stock in a transaction that occurred on Tuesday, August 6th. The stock was purchased at an average price of $57.55 per share, with a total value of $25,000,007.75. Following the transaction, the director now owns 434,405 shares of the company’s stock, valued at $25,000,007.75. The disclosure for this purchase can be found here. Insiders sold a total of 28,179 shares of company stock valued at $1,833,962 in the last ninety days. Insiders own 10.49% of the company’s stock.
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.
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