Block, Inc. (NYSE:SQ) Shares Sold by Signal Advisors Wealth LLC

Signal Advisors Wealth LLC trimmed its holdings in Block, Inc. (NYSE:SQ) by 12.5% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 15,279 shares of the technology company’s stock after selling 2,187 shares during the quarter. Signal Advisors Wealth LLC’s holdings in Block were worth $1,299,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors also recently made changes to their positions in the business. SouthState Corp grew its holdings in shares of Block by 85.3% in the 3rd quarter. SouthState Corp now owns 391 shares of the technology company’s stock worth $26,000 after acquiring an additional 180 shares during the last quarter. True Wealth Design LLC boosted its position 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 valued at $33,000 after purchasing an additional 194 shares during the period. Versant Capital Management Inc increased its stake in Block by 67.7% in the 4th quarter. Versant Capital Management Inc now owns 394 shares of the technology company’s stock worth $33,000 after purchasing an additional 159 shares in the last quarter. V Square Quantitative Management LLC acquired a new stake in Block during the 3rd quarter worth about $46,000. Finally, Future Financial Wealth Managment LLC purchased a new stake in Block during the third quarter valued at about $57,000. Institutional investors own 70.44% of the company’s stock.

Block Trading Up 0.5 %

NYSE:SQ opened at $82.45 on Wednesday. The company’s 50 day moving average is $88.99 and its 200-day moving average is $74.36. 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 $99.26. The firm has a market cap of $51.10 billion, a price-to-earnings ratio of 46.32, a P/E/G ratio of 1.23 and a beta of 2.51.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on SQ shares. Royal Bank of Canada reissued an “outperform” rating and issued a $88.00 target price on shares of Block in a research report on Monday, October 21st. Piper Sandler reiterated an “overweight” rating and set a $83.00 price objective on shares of Block in a research report on Monday, November 11th. William Blair restated an “outperform” rating on shares of Block in a report on Friday, November 15th. The Goldman Sachs Group raised their target price on Block from $87.00 to $102.00 and gave the stock a “buy” rating in a research report on Monday, December 2nd. Finally, Needham & Company LLC upped their price target on Block from $80.00 to $90.00 and gave the company a “buy” rating in a research report on Friday, November 8th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and twenty-seven have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $97.35.

Insider Activity at Block

In related news, insider Chrysty Esperanza sold 2,865 shares of the stock in a transaction that occurred on Monday, December 2nd. The stock was sold at an average price of $95.00, for a total transaction of $272,175.00. Following the completion of the sale, the insider now owns 85,235 shares in the company, valued at $8,097,325. This represents a 3.25 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CFO Amrita Ahuja sold 1,502 shares of Block stock in a transaction that occurred on Thursday, January 2nd. The stock was sold at an average price of $86.52, for a total value of $129,953.04. Following the completion of the transaction, the chief financial officer now directly owns 242,199 shares in the company, valued at approximately $20,955,057.48. This represents a 0.62 % decrease in their ownership of the stock. 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. 10.49% of the stock is owned by insiders.

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.