Drive Wealth Management LLC Sells 2,116 Shares of Block, Inc. (NYSE:SQ)

Drive Wealth Management LLC reduced its stake in shares of Block, Inc. (NYSE:SQFree Report) by 8.0% in the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 24,252 shares of the technology company’s stock after selling 2,116 shares during the quarter. Drive Wealth Management LLC’s holdings in Block were worth $1,628,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also bought and sold shares of the company. LRI Investments LLC bought a new stake in shares of Block in the first quarter worth about $34,000. Unique Wealth Strategies LLC bought a new position in Block in the second quarter valued at approximately $34,000. V Square Quantitative Management LLC acquired a new stake in shares of Block during the third quarter worth $46,000. Migdal Insurance & Financial Holdings Ltd. bought a new stake in Block in the 2nd quarter valued at $44,000. Finally, Hobbs Group Advisors LLC acquired a new position in Block in the 2nd quarter worth $49,000. Institutional investors own 70.44% of the company’s stock.

Insider Activity at Block

In related news, insider Chrysty Esperanza sold 2,964 shares of the business’s stock in a transaction that occurred on Monday, November 11th. The stock was sold at an average price of $80.00, for a total value of $237,120.00. Following the completion of the sale, 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 SEC, which is accessible through this link. Also, insider Brian Grassadonia sold 8,328 shares of the stock in a transaction dated Wednesday, August 21st. The stock was sold at an average price of $64.77, for a total transaction of $539,404.56. Following the sale, the insider now owns 580,086 shares in the company, valued at $37,572,170.22. The trade was a 1.42 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 28,678 shares of company stock worth $1,924,112 in the last ninety days. 10.49% of the stock is owned by company insiders.

Block Trading Up 1.1 %

Shares of NYSE:SQ opened at $84.30 on Monday. The stock has a market cap of $51.90 billion, a PE ratio of 47.36, a P/E/G ratio of 1.14 and a beta of 2.48. The company has a quick ratio of 2.07, a current ratio of 2.07 and a debt-to-equity ratio of 0.26. Block, Inc. has a 12-month low of $55.00 and a 12-month high of $90.00. The business has a 50 day moving average of $70.94 and a 200-day moving average of $67.36.

Analyst Ratings Changes

SQ has been the topic of several recent research reports. William Blair reissued an “outperform” rating on shares of Block in a research note on Friday. Oppenheimer started coverage on Block in a research report on Tuesday, October 1st. They issued a “market perform” rating on the stock. Macquarie reaffirmed an “outperform” rating and set a $100.00 price target on shares of Block in a research report on Friday, July 26th. Royal Bank of Canada reiterated an “outperform” rating and issued a $88.00 price objective on shares of Block in a report on Monday, October 21st. Finally, Keefe, Bruyette & Woods increased their target price on shares of Block from $71.00 to $80.00 and gave the stock a “market perform” rating in a report on Friday, November 8th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and twenty-four have given a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $91.30.

View Our Latest Stock Report on SQ

About Block

(Free Report)

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.

See Also

Want to see what other hedge funds are holding SQ? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Block, Inc. (NYSE:SQFree Report).

Institutional Ownership by Quarter for Block (NYSE:SQ)

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