Udine Wealth Management Inc. Invests $953,000 in Block, Inc. (NYSE:SQ)

Udine Wealth Management Inc. acquired a new position in Block, Inc. (NYSE:SQ - Free Report) in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm acquired 11,208 shares of the technology company's stock, valued at approximately $953,000.

Several other large investors have also added to or reduced their stakes in the stock. Envestnet Asset Management Inc. lifted its stake in shares of Block by 5.4% in the 2nd quarter. Envestnet Asset Management Inc. now owns 266,067 shares of the technology company's stock valued at $17,159,000 after purchasing an additional 13,649 shares during the period. Dimensional Fund Advisors LP boosted its holdings in shares of Block by 17.8% during the 2nd quarter. Dimensional Fund Advisors LP now owns 2,157,733 shares of the technology company's stock valued at $139,143,000 after buying an additional 326,444 shares in the last quarter. Edgestream Partners L.P. grew its position in shares of Block by 37.6% in the 2nd quarter. Edgestream Partners L.P. now owns 4,833 shares of the technology company's stock worth $312,000 after buying an additional 1,321 shares during the period. Mercer Global Advisors Inc. ADV increased its stake in shares of 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 acquiring an additional 1,603 shares in the last quarter. Finally, Brighton Jones LLC lifted its position in Block by 189.9% during the 2nd quarter. Brighton Jones LLC now owns 7,002 shares of the technology company's stock valued at $452,000 after acquiring an additional 4,587 shares during the period. Institutional investors own 70.44% of the company's stock.

Block Price Performance

SQ traded up $0.62 during trading hours on Friday, hitting $87.00. The company's stock had a trading volume of 5,788,892 shares, compared to its average volume of 5,438,821. Block, Inc. has a 12 month low of $55.00 and a 12 month high of $99.26. 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 business's 50-day moving average price is $89.61 and its 200-day moving average price is $74.82. The stock has a market cap 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.

Insider Activity

In related news, CAO Ajmere Dale sold 1,000 shares of the company's stock in a transaction dated Monday, November 11th. The shares were sold at an average price of $80.00, for a total transaction of $80,000.00. Following the transaction, the chief accounting officer now directly owns 88,791 shares in the company, valued at approximately $7,103,280. This represents a 1.11 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Chrysty Esperanza sold 2,964 shares of the firm's stock in a transaction dated Monday, November 11th. The stock was sold at an average price of $80.00, for a total transaction of $237,120.00. Following the completion of the sale, the insider now directly owns 88,607 shares of the company's stock, valued at approximately $7,088,560. The trade was a 3.24 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 29,981 shares of company stock worth $2,681,185. 10.49% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

A number of brokerages have recently commented on SQ. Morgan Stanley boosted their price target on Block from $60.00 to $65.00 and gave the stock an "underweight" rating in a research report on Wednesday, December 18th. Barclays increased their target price on Block from $100.00 to $112.00 and gave the stock an "overweight" rating in a research note on Tuesday, December 17th. Monness Crespi & Hardt raised Block from a "neutral" rating to a "buy" rating and set a $115.00 price target for the company in a research report on Friday, December 13th. Wells Fargo & Company raised their price objective on shares of Block from $85.00 to $95.00 and gave the company an "overweight" rating in a research note on Thursday. Finally, Raymond James upgraded shares of Block from a "market perform" rating to an "outperform" rating and set a $115.00 target price on the stock in a research note on Friday, January 3rd. One analyst has rated the stock with a sell rating, five have given a hold rating and twenty-seven have given a buy rating to the company's stock. Based on data from MarketBeat.com, Block has a consensus rating of "Moderate Buy" and a consensus target price of $97.68.

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.