Kathmere Capital Management LLC Buys Shares of 2,967 Block, Inc. (NYSE:SQ)

Kathmere Capital Management LLC bought a new position in shares of Block, Inc. (NYSE:SQ - Free Report) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm bought 2,967 shares of the technology company's stock, valued at approximately $252,000.

Other hedge funds have also recently modified their holdings of the company. Baillie Gifford & Co. lifted its position in shares of 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 buying an additional 147,873 shares during the last quarter. Geode Capital Management LLC grew its holdings in Block by 1.6% during the 3rd 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 in the last quarter. Lone Pine Capital LLC increased its position 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. lifted its holdings in shares of Block by 2.1% in the third quarter. Charles Schwab Investment Management Inc. now owns 2,202,388 shares of the technology company's stock worth $147,846,000 after buying an additional 45,472 shares in the last quarter. Finally, Dimensional Fund Advisors LP boosted its position in shares of 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 acquiring an additional 326,444 shares during the period. Institutional investors own 70.44% of the company's stock.

Block Trading Up 0.7 %

Shares of NYSE:SQ traded up $0.62 during trading on Friday, reaching $87.00. 5,788,892 shares of the company traded hands, compared to its average volume of 6,727,022. The company has a current ratio of 2.07, a quick ratio of 2.07 and a debt-to-equity ratio of 0.26. Block, Inc. has a 52-week low of $55.00 and a 52-week high of $99.26. The firm has a market capitalization of $53.92 billion, a price-to-earnings ratio of 48.88, a P/E/G ratio of 0.75 and a beta of 2.51. The business's fifty day moving average is $89.61 and its 200-day moving average is $74.68.

Analysts Set New Price Targets

Several analysts have issued reports on SQ shares. Barclays increased their target price on shares of Block from $100.00 to $112.00 and gave the stock an "overweight" rating in a research note on Tuesday, December 17th. Canaccord Genuity Group increased their price objective on Block from $95.00 to $120.00 and gave the stock a "buy" rating in a research report on Tuesday, November 12th. Royal Bank of Canada restated an "outperform" rating and set a $88.00 target price on shares of Block in a research report on Monday, October 21st. Wells Fargo & Company upped their target price on Block from $85.00 to $95.00 and gave the stock an "overweight" rating in a research note on Thursday. Finally, The Goldman Sachs Group lifted their price target on Block from $87.00 to $102.00 and gave the company a "buy" rating in a research report on Monday, December 2nd. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and twenty-seven have assigned a buy rating to the stock. According to MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $97.68.

Insider Transactions at Block

In related news, CFO Amrita Ahuja sold 1,502 shares of the stock in a transaction dated Thursday, January 2nd. The shares were sold at an average price of $86.52, for a total value of $129,953.04. Following the completion of the transaction, the chief financial officer now directly owns 242,199 shares of the company's stock, valued at $20,955,057.48. This represents a 0.62 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider Brian Grassadonia sold 8,328 shares of the firm's stock in a transaction dated Thursday, November 21st. The stock was sold at an average price of $91.18, for a total transaction of $759,347.04. Following the completion of the sale, the insider now owns 563,894 shares of the company's stock, valued at $51,415,854.92. This trade represents a 1.46 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 29,981 shares of company stock worth $2,681,185. Company insiders own 10.49% of the company's stock.

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.