Friedenthal Financial Takes $744,000 Position in Block, Inc. (NYSE:SQ)

Friedenthal Financial purchased a new stake in shares of Block, Inc. (NYSE:SQ - Free Report) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 8,750 shares of the technology company's stock, valued at approximately $744,000.

Several other hedge funds have also made changes to their positions in SQ. SouthState Corp lifted its position in shares of Block by 85.3% in the third quarter. SouthState Corp now owns 391 shares of the technology company's stock worth $26,000 after purchasing an additional 180 shares in the last quarter. True Wealth Design LLC increased its stake in Block by 64.7% in 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 during the period. Versant Capital Management Inc lifted its position in Block by 67.7% in the 4th quarter. Versant Capital Management Inc now owns 394 shares of the technology company's stock worth $33,000 after buying an additional 159 shares in the last quarter. V Square Quantitative Management LLC acquired a new stake in shares of Block during the 3rd quarter valued at $46,000. Finally, Future Financial Wealth Managment LLC purchased a new position in shares of Block during the 3rd quarter valued at $57,000. Hedge funds and other institutional investors own 70.44% of the company's stock.

Analyst Upgrades and Downgrades

Several research firms have commented on SQ. Needham & Company LLC boosted their target price on shares of Block from $80.00 to $90.00 and gave the stock a "buy" rating in a research report on Friday, November 8th. 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. Piper Sandler reaffirmed an "overweight" rating and issued a $83.00 price target on shares of Block in a research report on Monday, November 11th. Raymond James raised Block from a "market perform" rating to an "outperform" rating and set a $115.00 price objective on the stock in a report on Friday, January 3rd. Finally, Keefe, Bruyette & Woods lowered their price target on Block from $105.00 to $100.00 and set a "market perform" rating on the stock in a report on Monday, January 6th. One analyst has rated the stock with a sell rating, five have issued a hold rating and twenty-seven have issued a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $96.77.

Block Trading Down 0.5 %

NYSE:SQ traded down $0.39 during trading hours on Monday, hitting $82.15. 6,920,299 shares of the stock were exchanged, compared to its average volume of 7,246,552. The company has a market capitalization of $50.92 billion, a P/E ratio of 46.15, a price-to-earnings-growth ratio of 1.23 and a beta of 2.51. The company has a quick ratio of 2.07, a current ratio of 2.07 and a debt-to-equity ratio of 0.26. The company's 50 day moving average is $88.79 and its two-hundred day moving average is $74.23. Block, Inc. has a twelve month low of $55.00 and a twelve month high of $99.26.

Insider Activity at Block

In related news, CAO Ajmere Dale sold 1,000 shares of the business's 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 $80,000.00. Following the completion of the transaction, the chief accounting officer now owns 88,791 shares in the company, valued at approximately $7,103,280. The trade was a 1.11 % 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 the stock in a transaction on Thursday, November 21st. The stock was sold at an average price of $91.43, for a total transaction of $609,015.23. Following the completion of the sale, the chief financial officer now owns 246,967 shares in the company, valued at approximately $22,580,192.81. This trade represents a 2.63 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 29,981 shares of company stock worth $2,681,185 over the last ninety days. Company insiders own 10.49% of the company's stock.

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.