RF&L Wealth Management LLC Sells 3,275 Shares of Block, Inc. (NYSE:SQ)

RF&L Wealth Management LLC lessened its stake in shares of Block, Inc. (NYSE:SQ - Free Report) by 45.0% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 4,000 shares of the technology company's stock after selling 3,275 shares during the period. RF&L Wealth Management LLC's holdings in Block were worth $340,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of SQ. Acadian Asset Management LLC bought a new stake in Block during the 2nd quarter valued at approximately $443,000. Envestnet Asset Management Inc. grew its stake in shares of Block by 5.4% in the second quarter. Envestnet Asset Management Inc. now owns 266,067 shares of the technology company's stock worth $17,159,000 after acquiring an additional 13,649 shares during the last quarter. Dimensional Fund Advisors LP increased its position in Block by 17.8% during the second quarter. Dimensional Fund Advisors LP now owns 2,157,733 shares of the technology company's stock worth $139,143,000 after acquiring an additional 326,444 shares during the period. Edgestream Partners L.P. boosted its holdings in Block by 37.6% in the 2nd quarter. Edgestream Partners L.P. now owns 4,833 shares of the technology company's stock valued at $312,000 after purchasing an additional 1,321 shares during the period. Finally, Mercer Global Advisors Inc. ADV grew its position in Block by 2.8% in the 2nd quarter. Mercer Global Advisors Inc. ADV now owns 57,947 shares of the technology company's stock worth $3,737,000 after purchasing an additional 1,603 shares during the last quarter. Institutional investors own 70.44% of the company's stock.

Insider Activity

In other news, CFO Amrita Ahuja sold 1,502 shares of the stock in a transaction on Thursday, January 2nd. The stock was sold at an average price of $86.52, for a total value of $129,953.04. Following the transaction, the chief financial officer now owns 242,199 shares of the company's stock, valued at $20,955,057.48. This represents a 0.62 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Chrysty Esperanza sold 2,964 shares of the business's stock in a transaction dated Monday, November 11th. The stock was sold at an average price of $80.00, for a total value of $237,120.00. Following the transaction, the insider now owns 88,607 shares of the company's stock, valued at $7,088,560. The trade was a 3.24 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 29,981 shares of company stock valued at $2,681,185. Company insiders own 10.49% of the company's stock.

Block Trading Up 0.7 %

SQ stock traded up $0.62 during trading on Friday, hitting $87.00. The company had a trading volume of 5,788,892 shares, compared to its average volume of 5,438,821. The firm has a 50-day moving average price of $89.61 and a 200-day moving average price of $74.68. Block, Inc. has a 12 month low of $55.00 and a 12 month high of $99.26. 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 stock has a market cap of $53.92 billion, a price-to-earnings ratio of 48.88, a PEG ratio of 0.75 and a beta of 2.51.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on SQ shares. Royal Bank of Canada reiterated an "outperform" rating and issued a $88.00 target price on shares of Block in a research note on Monday, October 21st. Monness Crespi & Hardt upgraded Block from a "neutral" rating to a "buy" rating and set a $115.00 price objective for the company in a research report on Friday, December 13th. BMO Capital Markets lowered Block from an "outperform" rating to a "market perform" rating and lifted their price objective for the stock from $94.00 to $100.00 in a report on Monday, November 25th. BNP Paribas lowered Block from an "outperform" rating to a "neutral" rating and set a $88.00 target price for the company. in a research note on Wednesday, November 20th. Finally, The Goldman Sachs Group lifted their price target on shares of Block from $87.00 to $102.00 and gave the stock a "buy" rating in a research note on Monday, December 2nd. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and twenty-seven have assigned a buy rating to the stock. According to data from MarketBeat.com, Block presently has a consensus rating of "Moderate Buy" and an average price target of $97.68.

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.