Block, Inc. (NYSE:SQ) Shares Sold by B. Riley Wealth Advisors Inc.

B. Riley Wealth Advisors Inc. lowered its holdings in Block, Inc. (NYSE:SQ) by 18.4% in the third quarter, according to its most recent disclosure with the SEC. The institutional investor owned 10,394 shares of the technology company’s stock after selling 2,338 shares during the period. B. Riley Wealth Advisors Inc.’s holdings in Block were worth $690,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. SouthState Corp grew its stake 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 acquiring an additional 180 shares in the last quarter. True Wealth Design LLC grew its stake in Block by 64.7% during the 3rd quarter. True Wealth Design LLC now owns 494 shares of the technology company’s stock worth $33,000 after purchasing an additional 194 shares in the last quarter. Migdal Insurance & Financial Holdings Ltd. purchased a new stake in Block during the 2nd quarter worth about $44,000. V Square Quantitative Management LLC acquired a new stake in Block in the 3rd quarter valued at about $46,000. Finally, LRI Investments LLC boosted its stake in shares of Block by 85.3% in the 2nd quarter. LRI Investments LLC now owns 741 shares of the technology company’s stock valued at $48,000 after buying an additional 341 shares during the period. 70.44% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Block

In other Block news, CAO Ajmere Dale sold 500 shares of the stock in a transaction on Tuesday, October 1st. The stock was sold at an average price of $67.00, for a total value of $33,500.00. Following the completion of the transaction, the chief accounting officer now owns 90,460 shares in the company, valued at approximately $6,060,820. This represents a 0.55 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Chrysty Esperanza sold 2,865 shares of the business’s stock in a transaction on Monday, December 2nd. The stock was sold at an average price of $95.00, for a total transaction of $272,175.00. Following the sale, the insider now owns 85,235 shares in the company, valued at $8,097,325. The trade was a 3.25 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 31,918 shares of company stock worth $2,666,147 over the last 90 days. Company insiders own 10.49% of the company’s stock.

Block Stock Down 7.7 %

SQ stock opened at $87.30 on Thursday. The stock has a market capitalization of $54.11 billion, a PE ratio of 49.05, a price-to-earnings-growth ratio of 1.23 and a beta of 2.50. The company has a fifty day moving average of $83.26 and a 200-day moving average of $71.10. The company has a debt-to-equity ratio of 0.26, a quick ratio of 2.07 and a current ratio of 2.07. Block, Inc. has a one year low of $55.00 and a one year high of $99.26.

Analyst Ratings Changes

SQ has been the topic of a number of recent research reports. Sanford C. Bernstein upped their target price on shares of Block from $90.00 to $120.00 and gave the stock an “outperform” rating in a research note on Monday, December 2nd. Barclays raised their price objective on shares of Block from $100.00 to $112.00 and gave the company an “overweight” rating in a report on Tuesday. BNP Paribas cut shares of Block from an “outperform” rating to a “neutral” rating and set a $88.00 price objective for the company. in a research report on Wednesday, November 20th. BMO Capital Markets lowered 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 report on Monday, November 25th. Finally, Needham & Company LLC lifted their price target on Block from $80.00 to $90.00 and gave the stock a “buy” rating in a report on Friday, November 8th. One analyst has rated the stock with a sell rating, six have given a hold rating and twenty-five have assigned a buy rating to the company’s stock. According to MarketBeat, Block currently has a consensus rating of “Moderate Buy” and an average price target of $95.69.

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.