Block, Inc. (NYSE:SQ) Shares Purchased by True Wealth Design LLC

True Wealth Design LLC raised its stake in Block, Inc. (NYSE:SQ) by 64.7% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 494 shares of the technology company’s stock after purchasing an additional 194 shares during the quarter. True Wealth Design LLC’s holdings in Block were worth $33,000 at the end of the most recent quarter.

Several other institutional investors also recently made changes to their positions in the stock. Yoder Wealth Management Inc. increased its position in Block by 0.4% during the 3rd quarter. Yoder Wealth Management Inc. now owns 39,688 shares of the technology company’s stock worth $2,664,000 after purchasing an additional 145 shares in the last quarter. Nations Financial Group Inc. IA ADV grew its stake in Block by 1.9% during the third quarter. Nations Financial Group Inc. IA ADV now owns 7,744 shares of the technology company’s stock worth $520,000 after buying an additional 145 shares during the period. Moser Wealth Advisors LLC increased its position in shares of Block by 2.5% in the third quarter. Moser Wealth Advisors LLC now owns 6,265 shares of the technology company’s stock worth $421,000 after acquiring an additional 153 shares in the last quarter. Lindbrook Capital LLC raised its stake in shares of Block by 6.3% in the 3rd quarter. Lindbrook Capital LLC now owns 2,592 shares of the technology company’s stock valued at $174,000 after acquiring an additional 154 shares during the period. Finally, Larson Financial Group LLC lifted its holdings in shares of Block by 14.8% during the 3rd quarter. Larson Financial Group LLC now owns 1,192 shares of the technology company’s stock valued at $80,000 after acquiring an additional 154 shares in the last quarter. 70.44% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

SQ has been the topic of several research reports. Canaccord Genuity Group raised their price objective on Block from $95.00 to $120.00 and gave the company a “buy” rating in a research report on Tuesday, November 12th. William Blair reissued an “outperform” rating on shares of Block in a research report on Friday, November 15th. New Street Research assumed coverage on Block in a report on Monday, September 9th. They issued a “neutral” rating and a $70.00 price target for the company. Oppenheimer assumed coverage on shares of Block in a research note on Tuesday, October 1st. They set a “market perform” rating on the stock. Finally, BMO Capital Markets downgraded shares of Block from an “outperform” rating to a “market perform” rating and upped their target price for the company from $94.00 to $100.00 in a research note on Monday, November 25th. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and twenty-three have given a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $91.46.

Block Stock Down 0.3 %

NYSE:SQ opened at $88.55 on Monday. The firm has a market capitalization of $54.88 billion, a PE ratio of 49.75, a price-to-earnings-growth ratio of 1.19 and a beta of 2.48. Block, Inc. has a 52 week low of $55.00 and a 52 week high of $94.12. The company has a current ratio of 2.07, a quick ratio of 2.07 and a debt-to-equity ratio of 0.26. The stock has a 50 day moving average of $76.03 and a 200-day moving average of $68.70.

Insider Buying and Selling

In other Block news, CAO Ajmere Dale sold 500 shares of the firm’s stock in a transaction that occurred on Tuesday, October 1st. The shares were sold at an average price of $67.00, for a total value of $33,500.00. Following the sale, the chief accounting officer now owns 90,460 shares in the company, valued at approximately $6,060,820. This trade represents a 0.55 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Amrita Ahuja sold 6,661 shares of Block stock in a transaction that occurred on Thursday, November 21st. The shares were sold at an average price of $91.43, for a total value of $609,015.23. Following the sale, the chief financial officer now directly owns 246,967 shares in the company, valued at approximately $22,580,192.81. This trade represents a 2.63 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 29,053 shares of company stock worth $2,393,972 in the last three months. 10.49% of the stock is owned by insiders.

Block 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.