Legal Advantage Investments Inc. Boosts Holdings in Block, Inc. (NYSE:SQ)

Legal Advantage Investments Inc. grew its holdings in Block, Inc. (NYSE:SQ) by 13.2% in the 4th quarter, HoldingsChannel reports. The firm owned 23,160 shares of the technology company’s stock after purchasing an additional 2,700 shares during the quarter. Legal Advantage Investments Inc.’s holdings in Block were worth $1,968,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in the business. Ballentine Partners LLC raised its holdings in Block by 18.1% in the fourth quarter. Ballentine Partners LLC now owns 7,592 shares of the technology company’s stock valued at $645,000 after acquiring an additional 1,162 shares in the last quarter. Ulland Investment Advisors LLC raised its holdings in Block by 92.3% in the fourth quarter. Ulland Investment Advisors LLC now owns 2,135 shares of the technology company’s stock valued at $181,000 after acquiring an additional 1,025 shares in the last quarter. Harbor Investment Advisory LLC raised its holdings in Block by 31.2% in the fourth quarter. Harbor Investment Advisory LLC now owns 4,735 shares of the technology company’s stock valued at $402,000 after acquiring an additional 1,125 shares in the last quarter. MassMutual Private Wealth & Trust FSB raised its holdings in Block by 48.2% in the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 418 shares of the technology company’s stock valued at $36,000 after acquiring an additional 136 shares in the last quarter. Finally, Lee Johnson Capital Management LLC acquired a new stake in Block during the fourth quarter worth approximately $3,757,000. Hedge funds and other institutional investors own 70.44% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on SQ shares. The Goldman Sachs Group raised their price objective on shares of Block from $87.00 to $102.00 and gave the stock a “buy” rating in a report on Monday, December 2nd. Oppenheimer raised shares of Block from a “market perform” rating to an “outperform” rating and set a $115.00 price objective on the stock in a report on Thursday, December 19th. Sanford C. Bernstein raised their price objective on shares of Block from $90.00 to $120.00 and gave the stock an “outperform” rating in a report on Monday, December 2nd. Citigroup lifted their target price on shares of Block from $90.00 to $108.00 and gave the company a “buy” rating in a report on Tuesday, January 14th. Finally, Monness Crespi & Hardt raised shares of Block from a “neutral” rating to a “buy” rating and set a $115.00 target price on the stock in a report on Friday, December 13th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and twenty-seven have given a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $97.68.

Insider Buying and Selling

In related news, CFO Amrita Ahuja sold 1,502 shares of the firm’s stock in a transaction that occurred on Thursday, January 2nd. The shares were sold at an average price of $86.52, for a total value of $129,953.04. Following the transaction, the chief financial officer now owns 242,199 shares in the company, valued at approximately $20,955,057.48. This trade represents a 0.62 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CAO Ajmere Dale sold 1,000 shares of the firm’s stock in a transaction that occurred 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 transaction, the chief accounting officer now owns 88,791 shares in the company, valued at $7,103,280. The trade was a 1.11 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 29,981 shares of company stock valued at $2,681,185. Insiders own 10.49% of the company’s stock.

Block Price Performance

Block stock opened at $87.00 on Tuesday. Block, Inc. has a 12-month low of $55.00 and a 12-month high of $99.26. The stock has a market capitalization of $53.92 billion, a P/E ratio of 48.88, a P/E/G ratio of 0.79 and a beta of 2.51. The firm’s 50-day moving average is $89.61 and its two-hundred day moving average is $74.82. The company has a debt-to-equity ratio of 0.26, a current ratio of 2.07 and a quick ratio of 2.07.

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.