46,089 Shares in Block, Inc. (NYSE:SQ) Acquired by Insight Wealth Strategies LLC

Insight Wealth Strategies LLC acquired a new stake in Block, Inc. (NYSE:SQ) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 46,089 shares of the technology company’s stock, valued at approximately $3,917,000.

Several other hedge funds and other institutional investors have also recently modified their holdings of SQ. SouthState Corp boosted its position 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 buying an additional 180 shares during the last quarter. True Wealth Design LLC grew its stake in shares of Block by 64.7% in the 3rd quarter. True Wealth Design LLC now owns 494 shares of the technology company’s stock worth $33,000 after acquiring an additional 194 shares in the last quarter. Versant Capital Management Inc raised its holdings in shares of Block by 67.7% in the fourth 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. V Square Quantitative Management LLC bought a new position in shares of Block during the third quarter valued at about $46,000. Finally, Asset Dedication LLC boosted its holdings in Block by 392.7% during the second quarter. Asset Dedication LLC now owns 877 shares of the technology company’s stock worth $57,000 after purchasing an additional 699 shares during the last quarter. Institutional investors own 70.44% of the company’s stock.

Block Price Performance

Block stock traded down $0.51 during mid-day trading on Monday, hitting $91.65. 4,624,624 shares of the company traded hands, compared to its average volume of 6,939,837. 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 one year low of $55.00 and a one year high of $99.26. The stock has a market cap of $56.81 billion, a price-to-earnings ratio of 51.49, a price-to-earnings-growth ratio of 1.23 and a beta of 2.51. The stock has a fifty day moving average price of $87.20 and a 200-day moving average price of $73.27.

Insider Transactions at Block

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

Wall Street Analyst Weigh In

SQ has been the topic of several recent analyst reports. Oppenheimer raised shares of Block from a “market perform” rating to an “outperform” rating and set a $115.00 target price on the stock in a research report on Thursday, December 19th. Morgan Stanley boosted their price objective on Block from $60.00 to $65.00 and gave the stock an “underweight” rating in a research report on Wednesday, December 18th. Keefe, Bruyette & Woods decreased their target price on Block from $105.00 to $100.00 and set a “market perform” rating for the company in a research report on Monday. Barclays boosted their price target on shares of Block from $100.00 to $112.00 and gave the stock an “overweight” rating in a report on Tuesday, December 17th. Finally, Royal Bank of Canada restated an “outperform” rating and set a $88.00 price objective on shares of Block in a report on Monday, October 21st. One analyst has rated the stock with a sell rating, five have issued a hold rating and twenty-seven have issued a buy rating to the company’s stock. According to MarketBeat.com, Block currently has a consensus rating of “Moderate Buy” and an average target price of $96.77.

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.