Whitaker Myers Wealth Managers LTD. Makes New $256,000 Investment in Block, Inc. (NYSE:SQ)

Whitaker Myers Wealth Managers LTD. 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 filing with the Securities & Exchange Commission. The institutional investor bought 3,014 shares of the technology company's stock, valued at approximately $256,000.

Other institutional investors and hedge funds have also bought and sold shares of the company. SouthState Corp raised its stake in Block by 85.3% in the third quarter. SouthState Corp now owns 391 shares of the technology company's stock valued at $26,000 after buying an additional 180 shares during the period. True Wealth Design LLC raised its stake in Block by 64.7% in the third quarter. True Wealth Design LLC now owns 494 shares of the technology company's stock valued at $33,000 after buying an additional 194 shares during the period. Versant Capital Management Inc raised its stake in 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 buying an additional 159 shares during the period. V Square Quantitative Management LLC bought a new stake in Block in the third quarter valued at approximately $46,000. Finally, Future Financial Wealth Managment LLC bought a new stake in Block in the third quarter valued at approximately $57,000. Institutional investors own 70.44% of the company's stock.

Wall Street Analyst Weigh In

SQ has been the topic of several research analyst reports. Royal Bank of Canada restated an "outperform" rating and issued a $88.00 price objective 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 on the stock in a research note on Friday, December 13th. Macquarie increased their target price on Block from $100.00 to $110.00 and gave the stock an "outperform" rating in a research note on Tuesday, December 10th. Needham & Company LLC increased their target price on Block from $80.00 to $90.00 and gave the stock a "buy" rating in a research note on Friday, November 8th. Finally, Citigroup increased their target price on Block from $90.00 to $108.00 and gave the stock a "buy" rating in a research note on Tuesday, January 14th. 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 presently has a consensus rating of "Moderate Buy" and a consensus price target of $97.68.

Insider Activity

In related news, CFO Amrita Ahuja sold 6,661 shares of the business's stock in a transaction on Thursday, November 21st. The stock was sold at an average price of $91.43, for a total transaction of $609,015.23. Following the sale, the chief financial officer now owns 246,967 shares in the company, valued at $22,580,192.81. The trade was a 2.63 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CAO Ajmere Dale sold 1,000 shares of the business's stock in a transaction on Monday, November 11th. The stock was sold at an average price of $80.00, for a total value of $80,000.00. Following the sale, the chief accounting officer now owns 88,791 shares in the company, valued at $7,103,280. This represents a 1.11 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 29,981 shares of company stock worth $2,681,185. Insiders own 10.49% of the company's stock.

Block Price Performance

Shares of SQ traded up $0.62 during midday trading 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 one year low of $55.00 and a one year high of $99.26. The company's fifty day simple moving average is $89.61 and its two-hundred day simple moving average is $74.82. 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 capitalization of $53.92 billion, a price-to-earnings ratio of 48.88, a price-to-earnings-growth ratio of 0.75 and a beta of 2.51.

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.