Diversify Advisory Services LLC Acquires Shares of 15,931 Block, Inc. (NYSE:SQ)

Diversify Advisory Services LLC bought a new position in Block, Inc. (NYSE:SQ - Free Report) in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 15,931 shares of the technology company's stock, valued at approximately $1,315,000.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. SouthState Corp boosted its holdings in shares of Block by 85.3% in the third quarter. SouthState Corp now owns 391 shares of the technology company's stock worth $26,000 after buying an additional 180 shares during the period. True Wealth Design LLC boosted its holdings 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 buying an additional 194 shares during the period. Versant Capital Management Inc boosted its holdings 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 worth $33,000 after buying an additional 159 shares during the period. V Square Quantitative Management LLC acquired a new position in shares of Block in the third quarter worth about $46,000. Finally, Future Financial Wealth Managment LLC acquired a new position in shares of Block in the third quarter worth about $57,000. 70.44% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research analysts have commented on the stock. Sanford C. Bernstein raised their target price on shares of Block from $90.00 to $120.00 and gave the stock an "outperform" rating in a report on Monday, December 2nd. BMO Capital Markets lowered shares of Block from an "outperform" rating to a "market perform" rating and increased their price target for the stock from $94.00 to $100.00 in a research report on Monday, November 25th. Morgan Stanley increased their price target on shares of 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 price target on shares of Block from $100.00 to $112.00 and gave the stock an "overweight" rating in a research report on Tuesday, December 17th. Finally, Piper Sandler reissued an "overweight" rating and issued a $83.00 price target on shares of Block in a research report on Monday, November 11th. One 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 company's stock. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of $97.68.

Insider Transactions at Block

In other Block news, CFO Amrita Ahuja sold 6,661 shares of Block stock in a transaction on Thursday, November 21st. The shares were 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 ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CAO Ajmere Dale sold 1,000 shares of Block stock in a transaction 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 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. Over 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 Stock Performance

Shares of Block stock traded up $0.70 during midday trading on Tuesday, hitting $87.08. The company had a trading volume of 5,788,892 shares, compared to its average volume of 4,896,312. The business's 50 day simple moving average is $89.68 and its two-hundred day simple moving average is $74.98. The stock has a market cap of $53.97 billion, a PE ratio of 48.92, a P/E/G ratio of 0.79 and a beta of 2.51. The company has a debt-to-equity ratio of 0.26, a current ratio of 2.07 and a quick ratio of 2.07. Block, Inc. has a 1-year low of $55.00 and a 1-year high of $99.26.

Block 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.