Arkadios Wealth Advisors Buys 7,054 Shares of Block, Inc. (NYSE:SQ)

Arkadios Wealth Advisors boosted its stake in shares of Block, Inc. (NYSE:SQ - Free Report) by 21.0% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 40,656 shares of the technology company's stock after acquiring an additional 7,054 shares during the quarter. Arkadios Wealth Advisors' holdings in Block were worth $3,455,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also bought and sold shares of the company. Baillie Gifford & Co. increased its holdings in Block by 1.5% during the 3rd quarter. Baillie Gifford & Co. now owns 10,233,102 shares of the technology company's stock valued at $686,948,000 after purchasing an additional 147,873 shares during the period. Geode Capital Management LLC increased its stake in shares of Block by 1.6% during the third quarter. Geode Capital Management LLC now owns 8,690,075 shares of the technology company's stock valued at $581,923,000 after buying an additional 133,002 shares during the period. Lone Pine Capital LLC increased its stake 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 valued at $494,672,000 after buying an additional 934,588 shares during the period. Charles Schwab Investment Management Inc. raised its holdings in shares of 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 acquiring an additional 45,472 shares in the last quarter. Finally, Dimensional Fund Advisors LP lifted 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 worth $139,143,000 after acquiring an additional 326,444 shares during the period. 70.44% of the stock is currently owned by institutional investors.

Block Stock Performance

NYSE:SQ traded up $0.62 during trading hours on Friday, reaching $87.00. The company had a trading volume of 5,788,892 shares, compared to its average volume of 5,438,821. The firm has a market cap of $53.92 billion, a price-to-earnings ratio of 48.88, a PEG ratio of 0.75 and a beta of 2.51. 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 firm's 50 day moving average price is $89.61 and its 200-day moving average price is $74.75. Block, Inc. has a 52 week low of $55.00 and a 52 week high of $99.26.

Insider Transactions at Block

In other news, CFO Amrita Ahuja sold 1,502 shares of Block stock in a transaction 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 transaction, the chief financial officer now owns 242,199 shares in the company, valued at $20,955,057.48. This trade represents a 0.62 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Owen Britton Jennings sold 2,836 shares of the firm's stock in a transaction dated 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 in the company, valued at $17,469,231.62. This trade represents a 1.43 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 29,981 shares of company stock worth $2,681,185 in the last ninety days. Insiders own 10.49% of the company's stock.

Analysts Set New Price Targets

SQ has been the subject of several research reports. The Goldman Sachs Group upped 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. Canaccord Genuity Group increased their price target on shares of Block from $95.00 to $120.00 and gave the stock a "buy" rating in a research note on Tuesday, November 12th. William Blair reaffirmed an "outperform" rating on shares of Block in a research report on Friday, November 15th. Keefe, Bruyette & Woods decreased their target price on Block from $105.00 to $100.00 and set a "market perform" rating for the company in a research report on Monday, January 6th. Finally, Macquarie lifted their price target on Block from $100.00 to $110.00 and gave the company an "outperform" rating in a research report on Tuesday, December 10th. One analyst has rated the stock with a sell rating, five have assigned a hold rating and twenty-seven have issued a buy rating to the stock. According to MarketBeat, Block has an average rating of "Moderate Buy" and an average 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.