HBW Advisory Services LLC Purchases New Shares in Block, Inc. (NYSE:SQ)

HBW Advisory Services LLC acquired a new position in shares of Block, Inc. (NYSE:SQ) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 2,697 shares of the technology company’s stock, valued at approximately $229,000.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. SouthState Corp grew its stake in shares of Block by 85.3% during the third quarter. SouthState Corp now owns 391 shares of the technology company’s stock valued at $26,000 after purchasing an additional 180 shares during the last quarter. True Wealth Design LLC boosted its position in Block by 64.7% in the 3rd quarter. True Wealth Design LLC now owns 494 shares of the technology company’s stock valued at $33,000 after buying an additional 194 shares during the last quarter. Versant Capital Management Inc increased its stake in shares of 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 buying an additional 159 shares during the period. 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 position in shares of Block during the third quarter valued at $57,000. Institutional investors and hedge funds own 70.44% of the company’s stock.

Block Price Performance

NYSE SQ opened at $82.66 on Friday. The firm’s 50 day moving average is $88.60 and its 200-day moving average is $74.03. The company has a quick ratio of 2.07, a current ratio of 2.07 and a debt-to-equity ratio of 0.26. The company has a market capitalization of $51.23 billion, a PE ratio of 46.44, a price-to-earnings-growth ratio of 1.23 and a beta of 2.51. Block, Inc. has a 12-month low of $55.00 and a 12-month high of $99.26.

Analyst Ratings Changes

Several analysts have weighed in on the company. Royal Bank of Canada reissued an “outperform” rating and set a $88.00 price objective on shares of Block in a report on Monday, October 21st. Piper Sandler reissued an “overweight” rating and set a $83.00 price target on shares of Block in a research note on Monday, November 11th. Morgan Stanley raised their price objective on shares of Block from $60.00 to $65.00 and gave the company an “underweight” rating in a research note on Wednesday, December 18th. Macquarie upped their target price on shares of Block from $100.00 to $110.00 and gave the company an “outperform” rating in a research report on Tuesday, December 10th. Finally, Raymond James upgraded Block from a “market perform” rating to an “outperform” rating and set a $115.00 price target on the stock in a research report on Friday, January 3rd. One 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 stock. According to data from MarketBeat.com, Block currently has a consensus rating of “Moderate Buy” and an average target price of $96.77.

Insider Buying and Selling at Block

In related news, insider Chrysty Esperanza sold 2,964 shares of the business’s stock in a transaction on Monday, November 11th. The shares were sold at an average price of $80.00, for a total transaction of $237,120.00. Following the transaction, the insider now directly owns 88,607 shares in the company, valued at approximately $7,088,560. The trade was a 3.24 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CAO Ajmere Dale sold 1,000 shares of the stock in a transaction on Monday, November 11th. The shares were sold at an average price of $80.00, for a total transaction of $80,000.00. Following the completion of the sale, the chief accounting officer now owns 88,791 shares of the company’s stock, valued at approximately $7,103,280. This represents a 1.11 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 29,981 shares of company stock worth $2,681,185. Insiders own 10.49% of the company’s stock.

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.