Accurate Wealth Management LLC Buys 7,338 Shares of Block, Inc. (NYSE:SQ)

Accurate Wealth Management LLC boosted its position in shares of Block, Inc. (NYSE:SQ - Free Report) by 35.1% during the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 28,269 shares of the technology company's stock after purchasing an additional 7,338 shares during the period. Accurate Wealth Management LLC's holdings in Block were worth $2,333,000 at the end of the most recent reporting period.

Several other large investors also recently added to or reduced their stakes in the company. Baillie Gifford & Co. increased its stake in Block by 1.5% in the 3rd quarter. Baillie Gifford & Co. now owns 10,233,102 shares of the technology company's stock valued at $686,948,000 after buying an additional 147,873 shares during the period. Geode Capital Management LLC increased its stake in shares of Block by 1.6% in the third quarter. Geode Capital Management LLC now owns 8,690,075 shares of the technology company's stock worth $581,923,000 after acquiring an additional 133,002 shares during the last quarter. Lone Pine Capital LLC raised its holdings in shares of Block by 13.9% during the second quarter. Lone Pine Capital LLC now owns 7,670,523 shares of the technology company's stock worth $494,672,000 after acquiring an additional 934,588 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its position in Block by 2.1% during the third quarter. Charles Schwab Investment Management Inc. now owns 2,202,388 shares of the technology company's stock valued at $147,846,000 after purchasing an additional 45,472 shares during the last quarter. Finally, Dimensional Fund Advisors LP grew its stake in Block by 17.8% in the second quarter. Dimensional Fund Advisors LP now owns 2,157,733 shares of the technology company's stock valued at $139,143,000 after purchasing an additional 326,444 shares in the last quarter. 70.44% of the stock is owned by institutional investors and hedge funds.

Block Price Performance

Shares of SQ stock traded up $2.49 during mid-day trading on Wednesday, reaching $84.91. The company's stock had a trading volume of 4,867,045 shares, compared to its average volume of 6,746,230. The firm's 50-day moving average is $88.99 and its two-hundred day moving average is $74.36. The company has a market cap of $52.63 billion, a P/E ratio of 47.70, a PEG ratio of 1.23 and a beta of 2.51. 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 quick ratio of 2.07 and a current ratio of 2.07.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on SQ. Morgan Stanley raised their price target on Block from $60.00 to $65.00 and gave the stock an "underweight" rating in a research note on Wednesday, December 18th. Barclays raised their price objective on shares of Block from $100.00 to $112.00 and gave the company an "overweight" rating in a research report on Tuesday, December 17th. The Goldman Sachs Group increased their price target on shares of Block from $87.00 to $102.00 and gave the stock a "buy" rating in a research note on Monday, December 2nd. Raymond James upgraded shares of Block from a "market perform" rating to an "outperform" rating and set a $115.00 price target on the stock in a report on Friday, January 3rd. 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 research report on Friday, December 13th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and twenty-seven have given a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $97.35.

Insider Activity at Block

In other news, insider Chrysty Esperanza sold 2,964 shares of Block 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 $237,120.00. Following the completion of the sale, the insider now owns 88,607 shares in the company, valued at $7,088,560. The trade was a 3.24 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, 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 transaction of $129,953.04. Following the completion of the transaction, the chief financial officer now directly owns 242,199 shares in the company, valued at approximately $20,955,057.48. The trade was a 0.62 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 29,981 shares of company stock valued at $2,681,185 over the last quarter. 10.49% of the stock is owned by company insiders.

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.