Block (NYSE:SQ) Stock Acquired Rep. Josh Gottheimer

Representative Josh Gottheimer (D-New Jersey) recently bought shares of Block, Inc. NYSE: SQ. In a filing disclosed on January 14th, the Representative disclosed that they had bought between $1,001 and $15,000 in Block stock on December 30th. The trade occurred in the Representative's "MORGAN STANLEY - SELECT UMA ACCOUNT # 1" account.

Representative Josh Gottheimer also recently made the following trade(s):

• Purchased $1,001 - $15,000 in shares of The Goldman Sachs Group NYSE: GS on 12/30/2024.
• Sold $1,001 - $15,000 in shares of Ambev NYSE: ABEV on 12/27/2024.
• Sold $1,001 - $15,000 in shares of Grupo Financiero Banorte OTCMKTS: GBOOY on 12/27/2024.
• Sold $1,001 - $15,000 in shares of Cadre NYSE: CDRE on 12/27/2024.
• Sold $1,001 - $15,000 in shares of Coloplast A/S OTCMKTS: CLPBY on 12/27/2024.
• Sold $1,001 - $15,000 in shares of Intuitive Surgical NASDAQ: ISRG on 12/23/2024.
• Sold $1,001 - $15,000 in shares of Trane Technologies NYSE: TT on 12/23/2024.
• Purchased $1,001 - $15,000 in shares of Walmart NYSE: WMT on 12/20/2024.
• Sold $1,001 - $15,000 in shares of NVIDIA NASDAQ: NVDA on 12/19/2024.
• Purchased $1,001 - $15,000 in shares of Walmart NYSE: WMT on 12/19/2024.

Block Stock Up 2.9 %

NYSE SQ opened at $84.83 on Thursday. Block, Inc. has a 12 month low of $55.00 and a 12 month high of $99.26. The company has a market capitalization of $52.58 billion, a P/E ratio of 47.66, a PEG ratio of 1.23 and a beta of 2.51. The company's 50 day simple moving average is $88.99 and its 200 day simple moving average is $74.36. The company has a debt-to-equity ratio of 0.26, a current ratio of 2.07 and a quick ratio of 2.07.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of SQ. Southpoint Capital Advisors LP acquired a new position in Block in the 3rd quarter valued at $114,121,000. Massachusetts Financial Services Co. MA grew its position in Block by 770.0% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 1,738,708 shares of the technology company's stock worth $116,719,000 after purchasing an additional 1,538,849 shares during the last quarter. Lone Pine Capital LLC lifted its holdings in shares of Block by 13.9% during the 2nd quarter. Lone Pine Capital LLC now owns 7,670,523 shares of the technology company's stock worth $494,672,000 after acquiring an additional 934,588 shares during the period. D1 Capital Partners L.P. lifted its holdings in shares of Block by 76.7% during the 2nd quarter. D1 Capital Partners L.P. now owns 1,831,342 shares of the technology company's stock worth $118,103,000 after acquiring an additional 795,000 shares during the period. Finally, Canada Pension Plan Investment Board lifted its holdings in shares of Block by 1,061.0% during the 2nd quarter. Canada Pension Plan Investment Board now owns 657,667 shares of the technology company's stock worth $42,413,000 after acquiring an additional 601,020 shares during the period. 70.44% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several analysts recently commented on the stock. BMO Capital Markets lowered shares of Block from an "outperform" rating to a "market perform" rating and increased their target price for the company from $94.00 to $100.00 in a research note on Monday, November 25th. Citigroup increased their target price on shares of Block from $90.00 to $108.00 and gave the company a "buy" rating in a research note on Tuesday. Canaccord Genuity Group increased their target price on shares of Block from $95.00 to $120.00 and gave the company a "buy" rating in a research note on Tuesday, November 12th. Royal Bank of Canada reissued an "outperform" rating and set a $88.00 target price on shares of Block in a research note on Monday, October 21st. Finally, Raymond James raised shares of Block from a "market perform" rating to an "outperform" rating and set a $115.00 target price for the company in a research note on Friday, January 3rd. One 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 company's stock. According to MarketBeat, Block presently has an average rating of "Moderate Buy" and a consensus price target of $97.35.

Insider Transactions at Block

In related news, CFO Amrita Ahuja sold 1,502 shares of Block stock in a transaction dated Thursday, January 2nd. The shares were sold at an average price of $86.52, for a total transaction 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 trade represents a 0.62 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Chrysty Esperanza sold 2,964 shares of Block stock in a transaction dated Monday, November 11th. The shares were sold at an average price of $80.00, for a total transaction of $237,120.00. Following the transaction, the insider now directly owns 88,607 shares of the company's stock, valued at $7,088,560. This represents a 3.24 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 29,981 shares of company stock valued at $2,681,185. Company insiders own 10.49% of the company's stock.

About Representative Gottheimer

Josh Gottheimer (Democratic Party) is a member of the U.S. House, representing New Jersey's 5th Congressional District. He assumed office on January 3, 2017. His current term ends on January 3, 2025. Gottheimer (Democratic Party) is running for re-election to the U.S. House to represent New Jersey's 5th Congressional District. He declared candidacy for the 2024 election. Gottheimer was first elected to the House in 2016. Prior to his election, Gottheimer worked for Microsoft, the Federal Communications Commission, and for the administration of President Bill Clinton (D). Click here for more information about Gottheimer's career. Gottheimer serves on the House Financial Services Committee, where is a member of three subcommittees. For more on Gottheimer's committee assignments, click here. Gottheimer became a co-chair of the Problem Solvers Caucus in February 2017. Gottheimer attended the University of Pennsylvania for his undergraduate degree. He became a Thouron Fellow at Oxford and attended Harvard Law School. Gottheimer worked as a speech writer under former President Bill Clinton (D), assisting with two State of the Union addresses, among other projects. Before running for Congress, he worked for Microsoft as a general manager for corporate strategy.

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.