Lee Johnson Capital Management LLC Takes $3.76 Million Position in Block, Inc. (NYSE:SQ)

Lee Johnson Capital Management LLC acquired a new stake in Block, Inc. (NYSE:SQ - Free Report) in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 44,209 shares of the technology company's stock, valued at approximately $3,757,000. Block makes up 2.0% of Lee Johnson Capital Management LLC's holdings, making the stock its 19th biggest holding.

Other large investors have also made changes to their positions in the company. SouthState Corp lifted its stake in 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 buying an additional 180 shares in the last quarter. Versant Capital Management Inc lifted its position in shares of Block by 67.7% in the fourth 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 in the last quarter. True Wealth Design LLC boosted its stake in shares of Block by 64.7% in the third quarter. True Wealth Design LLC now owns 494 shares of the technology company's stock worth $33,000 after acquiring an additional 194 shares during the last quarter. V Square Quantitative Management LLC purchased a new stake in shares of Block during the third quarter worth approximately $46,000. Finally, Future Financial Wealth Managment LLC purchased a new position in Block in the 3rd quarter valued at $57,000. 70.44% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

SQ has been the subject of a number of research reports. Needham & Company LLC upped their target price on shares of Block from $80.00 to $90.00 and gave the stock a "buy" rating in a report on Friday, November 8th. Citigroup upped their price objective on shares of Block from $90.00 to $108.00 and gave the company a "buy" rating in a research note on Tuesday, January 14th. BNP Paribas lowered shares of Block from an "outperform" rating to a "neutral" rating and set a $88.00 target price on the stock. in a research note on Wednesday, November 20th. Raymond James upgraded Block from a "market perform" rating to an "outperform" rating and set a $115.00 price target for the company in a research report on Friday, January 3rd. Finally, Canaccord Genuity Group lifted 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. One equities research 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 data from MarketBeat.com, Block has a consensus rating of "Moderate Buy" and a consensus price target of $97.68.

Insider Buying and Selling at Block

In other Block news, CAO Ajmere Dale sold 1,000 shares of the stock in a transaction that occurred on Monday, November 11th. The stock was sold at an average price of $80.00, for a total transaction of $80,000.00. Following the completion of the sale, the chief accounting officer now directly owns 88,791 shares of the company's stock, valued at approximately $7,103,280. This trade represents a 1.11 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Brian Grassadonia sold 8,328 shares of Block stock in a transaction that occurred on Thursday, November 21st. The shares were sold at an average price of $91.18, for a total value of $759,347.04. Following the completion of the transaction, the insider now owns 563,894 shares in the company, 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 quarter, insiders sold 29,981 shares of company stock worth $2,681,185. 10.49% of the stock is owned by insiders.

Block Stock Performance

Shares of SQ traded up $0.62 during midday trading on Monday, reaching $87.00. 5,788,892 shares of the stock were exchanged, compared to its average volume of 5,438,821. Block, Inc. has a twelve month low of $55.00 and a twelve month high of $99.26. The company has a debt-to-equity ratio of 0.26, a current ratio of 2.07 and a quick ratio of 2.07. The company has a market capitalization 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 business's 50-day moving average price is $89.61 and its 200 day moving average price is $74.82.

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.