Block, Inc. (NYSE:SQ) Shares Acquired by Sanctuary Advisors LLC

Sanctuary Advisors LLC increased its holdings in shares of Block, Inc. (NYSE:SQ) by 7.5% during the third quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 52,412 shares of the technology company’s stock after acquiring an additional 3,639 shares during the period. Sanctuary Advisors LLC’s holdings in Block were worth $3,518,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently modified their holdings of the company. SouthState Corp grew its holdings in Block by 85.3% in the third quarter. SouthState Corp now owns 391 shares of the technology company’s stock valued at $26,000 after purchasing an additional 180 shares during the period. True Wealth Design LLC lifted its position in shares of Block by 64.7% during the 3rd quarter. True Wealth Design LLC now owns 494 shares of the technology company’s stock valued at $33,000 after buying an additional 194 shares in the last quarter. Unique Wealth Strategies LLC acquired a new stake in Block in the 2nd quarter valued at $34,000. Migdal Insurance & Financial Holdings Ltd. acquired a new stake in Block in the 2nd quarter valued at $44,000. Finally, V Square Quantitative Management LLC purchased a new stake in Block in the 3rd quarter worth $46,000. Hedge funds and other institutional investors own 70.44% of the company’s stock.

Insider Buying and Selling

In other Block news, CFO Amrita Ahuja sold 6,661 shares of the business’s stock in a transaction dated Thursday, November 21st. The shares were sold at an average price of $91.43, for a total transaction of $609,015.23. Following the sale, the chief financial officer now directly owns 246,967 shares in the company, valued at $22,580,192.81. This represents a 2.63 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Brian Grassadonia sold 1,884 shares of the firm’s stock in a transaction that occurred on Wednesday, October 2nd. The shares were sold at an average price of $65.41, for a total transaction of $123,232.44. Following the completion of the transaction, the insider now directly owns 574,914 shares of the company’s stock, valued at approximately $37,605,124.74. The trade was a 0.33 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 31,918 shares of company stock valued at $2,666,147. Company insiders own 10.49% of the company’s stock.

Analyst Ratings Changes

Several brokerages have recently issued reports on SQ. BNP Paribas lowered shares of Block from an “outperform” rating to a “neutral” rating and set a $88.00 target price on the stock. in a research report on Wednesday, November 20th. Keefe, Bruyette & Woods lifted their price objective on Block from $80.00 to $105.00 and gave the stock a “market perform” rating in a report on Monday, December 9th. Monness Crespi & Hardt raised Block from a “neutral” rating to a “buy” rating and set a $115.00 target price for the company in a report on Friday. Piper Sandler reaffirmed an “overweight” rating and issued a $83.00 price target on shares of Block in a research note on Monday, November 11th. Finally, The Goldman Sachs Group increased their price objective on Block from $87.00 to $102.00 and gave the company a “buy” rating in a research note on Monday, December 2nd. One research analyst has rated the stock with a sell rating, six have given a hold rating and twenty-four have assigned a buy rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $94.75.

Block Price Performance

Shares of SQ opened at $93.82 on Tuesday. The firm has a 50-day simple moving average of $82.35 and a two-hundred day simple moving average of $70.77. The stock has a market cap of $58.15 billion, a PE ratio of 52.71, a P/E/G ratio of 1.23 and a beta of 2.50. Block, Inc. has a 1-year low of $55.00 and a 1-year high of $99.26. 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 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.