Rep. Josh Gottheimer Purchases Shares of Block, Inc. (NYSE:SQ)

Representative Josh Gottheimer (D-New Jersey) recently bought shares of Block, Inc. (NYSE:SQ). In a filing disclosed on January 14th, the Representative disclosed that they had bought between $1,001 and $15,000 in Block stock on December 30th. The trade occurred in the Representative’s “MORGAN STANLEY – SELECT UMA ACCOUNT # 1” account.

Representative Josh Gottheimer also recently made the following trade(s):

• Purchased $1,001 – $15,000 in shares of The Goldman Sachs Group (NYSE:GS) on 12/30/2024.
• Sold $1,001 – $15,000 in shares of Ambev (NYSE:ABEV) on 12/27/2024.
• Sold $1,001 – $15,000 in shares of Grupo Financiero Banorte (OTCMKTS:GBOOY) on 12/27/2024.
• Sold $1,001 – $15,000 in shares of Cadre (NYSE:CDRE) on 12/27/2024.
• Sold $1,001 – $15,000 in shares of Coloplast A/S (OTCMKTS:CLPBY) on 12/27/2024.
• Sold $1,001 – $15,000 in shares of Intuitive Surgical (NASDAQ:ISRG) on 12/23/2024.
• Sold $1,001 – $15,000 in shares of Trane Technologies (NYSE:TT) on 12/23/2024.
• Purchased $1,001 – $15,000 in shares of Walmart (NYSE:WMT) on 12/20/2024.
• Sold $1,001 – $15,000 in shares of NVIDIA (NASDAQ:NVDA) on 12/19/2024.
• Purchased $1,001 – $15,000 in shares of Walmart (NYSE:WMT) on 12/19/2024.

Block Stock Up 2.9 %

Block stock opened at $84.83 on Thursday. The stock has a market cap of $52.29 billion, a PE ratio of 47.66, a P/E/G ratio of 0.75 and a beta of 2.51. The company has a debt-to-equity ratio of 0.26, a current ratio of 2.07 and a quick ratio of 2.07. The stock’s fifty day moving average is $88.99 and its two-hundred day moving average is $74.36. Block, Inc. has a 1-year low of $55.00 and a 1-year high of $99.26.

Institutional Investors Weigh In On Block

Hedge funds and other institutional investors have recently bought and sold shares of the business. SouthState Corp increased 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 valued at $26,000 after purchasing an additional 180 shares in the last quarter. True Wealth Design LLC boosted its holdings in Block by 64.7% during the third quarter. True Wealth Design LLC now owns 494 shares of the technology company’s stock worth $33,000 after buying an additional 194 shares in the last quarter. Versant Capital Management Inc grew its position in Block by 67.7% during the fourth quarter. Versant Capital Management Inc now owns 394 shares of the technology company’s stock worth $33,000 after buying an additional 159 shares during the period. V Square Quantitative Management LLC purchased a new position in Block in the third quarter valued at about $46,000. Finally, Future Financial Wealth Managment LLC acquired a new stake in shares of Block during the 3rd quarter valued at approximately $57,000. Institutional investors and hedge funds own 70.44% of the company’s stock.

Insider Transactions at Block

In related news, CAO Ajmere Dale sold 1,000 shares of the stock in a transaction dated Monday, November 11th. The shares were sold at an average price of $80.00, for a total value of $80,000.00. Following the sale, the chief accounting officer now directly 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Chrysty Esperanza sold 2,964 shares of the firm’s stock in a transaction dated 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 owns 88,607 shares of the company’s stock, valued at $7,088,560. This trade represents a 3.24 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 29,981 shares of company stock valued at $2,681,185 in the last quarter. 10.49% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

SQ has been the topic of several research analyst reports. Oppenheimer raised 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. Needham & Company LLC raised their price objective on shares of Block from $80.00 to $90.00 and gave the stock a “buy” rating in a report on Friday, November 8th. Barclays upped their target price on shares of Block from $100.00 to $112.00 and gave the company an “overweight” rating in a report on Tuesday, December 17th. BNP Paribas lowered shares of Block from an “outperform” rating to a “neutral” rating and set a $88.00 price target on the stock. in a research note on Wednesday, November 20th. Finally, Raymond James upgraded shares of Block from a “market perform” rating to an “outperform” rating and set a $115.00 price objective for the company in a research note on Friday, January 3rd. One investment 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 stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $97.35.

About Representative Gottheimer

Josh Gottheimer (Democratic Party) is a member of the U.S. House, representing New Jersey’s 5th Congressional District. He assumed office on January 3, 2017. His current term ends on January 3, 2025. Gottheimer (Democratic Party) is running for re-election to the U.S. House to represent New Jersey’s 5th Congressional District. He declared candidacy for the 2024 election. Gottheimer was first elected to the House in 2016. Prior to his election, Gottheimer worked for Microsoft, the Federal Communications Commission, and for the administration of President Bill Clinton (D). Click here for more information about Gottheimer’s career. Gottheimer serves on the House Financial Services Committee, where is a member of three subcommittees. For more on Gottheimer’s committee assignments, click here. Gottheimer became a co-chair of the Problem Solvers Caucus in February 2017. Gottheimer attended the University of Pennsylvania for his undergraduate degree. He became a Thouron Fellow at Oxford and attended Harvard Law School. Gottheimer worked as a speech writer under former President Bill Clinton (D), assisting with two State of the Union addresses, among other projects. Before running for Congress, he worked for Microsoft as a general manager for corporate strategy.

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.