Insight Wealth Strategies LLC Acquires New Position in Block, Inc. (NYSE:SQ)

Insight Wealth Strategies LLC bought a new position in Block, Inc. (NYSE:SQ - Free Report) in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm bought 46,089 shares of the technology company's stock, valued at approximately $3,917,000.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. SouthState Corp increased its holdings in shares of Block by 85.3% in the 3rd quarter. SouthState Corp now owns 391 shares of the technology company's stock valued at $26,000 after purchasing an additional 180 shares in the last quarter. True Wealth Design LLC increased its holdings in Block by 64.7% in the third 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. Versant Capital Management Inc lifted its position in shares of Block by 67.7% during the 4th quarter. Versant Capital Management Inc now owns 394 shares of the technology company's stock valued at $33,000 after acquiring an additional 159 shares during the period. V Square Quantitative Management LLC acquired a new stake in shares of Block in the 3rd quarter worth approximately $46,000. Finally, Asset Dedication LLC grew its holdings in shares of Block by 392.7% in the 2nd quarter. Asset Dedication LLC now owns 877 shares of the technology company's stock worth $57,000 after acquiring an additional 699 shares during the period. Hedge funds and other institutional investors own 70.44% of the company's stock.

Insider Buying and Selling

In other Block news, insider Chrysty Esperanza sold 2,865 shares of the company's stock in a transaction dated Monday, December 2nd. The shares were sold at an average price of $95.00, for a total value of $272,175.00. Following the completion of the transaction, the insider now directly owns 85,235 shares of the company's stock, valued at $8,097,325. This represents a 3.25 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CAO Ajmere Dale sold 1,000 shares of Block stock in a transaction dated Monday, November 11th. The stock was sold at an average price of $80.00, for a total value of $80,000.00. Following the sale, the chief accounting officer now directly 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 disclosure for this sale can be found here. In the last ninety days, insiders have sold 23,599 shares of company stock valued at $2,120,494. Corporate insiders own 10.49% of the company's stock.

Block Stock Down 0.2 %

Shares of SQ traded down $0.15 during midday trading on Monday, reaching $92.01. 6,455,905 shares of the company were exchanged, compared to its average volume of 7,594,174. Block, Inc. has a 1-year low of $55.00 and a 1-year high of $99.26. The stock has a 50-day moving average price of $87.20 and a 200-day moving average price of $73.27. 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 company has a market cap of $57.03 billion, a price-to-earnings ratio of 51.69, a P/E/G ratio of 1.23 and a beta of 2.51.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on the company. BMO Capital Markets lowered Block from an "outperform" rating to a "market perform" rating and upped their target price for the company from $94.00 to $100.00 in a report on Monday, November 25th. Needham & Company LLC lifted their price objective on Block from $80.00 to $90.00 and gave the stock a "buy" rating in a research report on Friday, November 8th. Canaccord Genuity Group increased their target price on Block from $95.00 to $120.00 and gave the company a "buy" rating in a report on Tuesday, November 12th. The Goldman Sachs Group boosted their price target on Block from $87.00 to $102.00 and gave the stock a "buy" rating in a report on Monday, December 2nd. Finally, Monness Crespi & Hardt raised Block from a "neutral" rating to a "buy" rating and set a $115.00 price objective on the stock in a research note on Friday, December 13th. 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 currently has an average rating of "Moderate Buy" and a consensus price target of $96.77.

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.