JBGlobal.com LLC Acquires Shares of 8,713 Block, Inc. (NYSE:SQ)

JBGlobal.com LLC acquired a new stake in shares of Block, Inc. (NYSE:SQ) in the fourth quarter, HoldingsChannel reports. The firm acquired 8,713 shares of the technology company’s stock, valued at approximately $741,000. Block accounts for approximately 0.8% of JBGlobal.com LLC’s holdings, making the stock its 13th biggest holding.

A number of other hedge funds also recently made changes to their positions in the company. MassMutual Private Wealth & Trust FSB grew its holdings in Block by 48.2% during the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 418 shares of the technology company’s stock valued at $36,000 after buying an additional 136 shares in the last quarter. Yoder Wealth Management Inc. grew its holdings in shares of Block by 0.4% in the third quarter. Yoder Wealth Management Inc. now owns 39,688 shares of the technology company’s stock valued at $2,664,000 after purchasing an additional 145 shares in the last quarter. Nations Financial Group Inc. IA ADV grew its holdings in shares of Block by 1.9% in the third quarter. Nations Financial Group Inc. IA ADV now owns 7,744 shares of the technology company’s stock valued at $520,000 after purchasing an additional 145 shares in the last quarter. Wealth Enhancement Advisory Services LLC increased its position in Block by 0.5% in the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 26,864 shares of the technology company’s stock worth $2,283,000 after purchasing an additional 145 shares during the last quarter. Finally, Rosenberg Matthew Hamilton raised its stake in Block by 18.3% during the fourth quarter. Rosenberg Matthew Hamilton now owns 982 shares of the technology company’s stock valued at $83,000 after purchasing an additional 152 shares in the last quarter. 70.44% of the stock is currently owned by hedge funds and other institutional investors.

Block Stock Up 0.8 %

NYSE:SQ opened at $87.08 on Wednesday. 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, Inc. has a 1-year low of $55.00 and a 1-year high of $99.26. The company has a 50-day moving average of $89.68 and a 200 day moving average of $74.98. The firm has a market cap of $53.97 billion, a PE ratio of 48.92, a price-to-earnings-growth ratio of 0.79 and a beta of 2.51.

Insider Activity

In other news, insider Owen Britton Jennings sold 2,836 shares of the business’s stock in a transaction on Thursday, January 2nd. The stock was sold at an average price of $89.38, for a total value of $253,481.68. Following the completion of the transaction, the insider now directly owns 195,449 shares of the company’s stock, valued at approximately $17,469,231.62. The trade was a 1.43 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Chrysty Esperanza sold 2,964 shares of the company’s stock in a transaction on Monday, November 11th. The stock was sold at an average price of $80.00, for a total value of $237,120.00. Following the sale, 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. In the last quarter, insiders sold 29,981 shares of company stock worth $2,681,185. 10.49% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

Several brokerages have recently issued reports on SQ. Wells Fargo & Company upped their target price on shares of Block from $85.00 to $95.00 and gave the company an “overweight” rating in a research report on Thursday, January 16th. Macquarie raised their price objective on Block from $100.00 to $110.00 and gave the company an “outperform” rating in a research note on Tuesday, December 10th. Canaccord Genuity Group lifted their target price on Block from $95.00 to $120.00 and gave the stock a “buy” rating in a report on Tuesday, November 12th. The Goldman Sachs Group increased their price target on Block from $87.00 to $102.00 and gave the company a “buy” rating in a report on Monday, December 2nd. Finally, BMO Capital Markets lowered shares of Block from an “outperform” rating to a “market perform” rating and lifted their price objective for the stock from $94.00 to $100.00 in a research note on Monday, November 25th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and twenty-seven have issued a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $97.68.

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.