Accurate Wealth Management LLC Buys 7,338 Shares of Block, Inc. (NYSE:SQ)

Accurate Wealth Management LLC boosted its stake in shares of Block, Inc. (NYSE:SQ) by 35.1% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 28,269 shares of the technology company’s stock after purchasing an additional 7,338 shares during the quarter. Accurate Wealth Management LLC’s holdings in Block were worth $2,333,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds also recently added to or reduced their stakes in SQ. Acadian Asset Management LLC acquired a new stake in shares of Block in the 2nd quarter worth $443,000. LPL Financial LLC boosted its holdings in Block by 10.1% in the second quarter. LPL Financial LLC now owns 526,501 shares of the technology company’s stock worth $33,954,000 after acquiring an additional 48,107 shares in the last quarter. Federated Hermes Inc. grew its stake in shares of Block by 1.8% during the second quarter. Federated Hermes Inc. now owns 196,456 shares of the technology company’s stock worth $12,669,000 after acquiring an additional 3,479 shares during the last quarter. Envestnet Asset Management Inc. increased its holdings in shares of Block by 5.4% during the second quarter. Envestnet Asset Management Inc. now owns 266,067 shares of the technology company’s stock valued at $17,159,000 after acquiring an additional 13,649 shares in the last quarter. Finally, Brown Brothers Harriman & Co. raised its position in shares of Block by 54.5% in the 2nd quarter. Brown Brothers Harriman & Co. now owns 14,168 shares of the technology company’s stock valued at $914,000 after purchasing an additional 5,000 shares during the last quarter. Hedge funds and other institutional investors own 70.44% of the company’s stock.

Block Stock Up 0.5 %

SQ stock opened at $82.45 on Wednesday. Block, Inc. has a 52 week low of $55.00 and a 52 week 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 firm has a 50-day simple moving average of $88.99 and a 200-day simple moving average of $74.36. The stock has a market capitalization of $51.10 billion, a P/E ratio of 46.32, a P/E/G ratio of 1.23 and a beta of 2.51.

Analyst Ratings Changes

SQ has been the topic of several research analyst reports. The Goldman Sachs Group boosted their target price on shares of Block from $87.00 to $102.00 and gave the stock a “buy” rating in a research report on Monday, December 2nd. BMO Capital Markets lowered shares of Block from an “outperform” rating to a “market perform” rating and boosted their price objective for the company from $94.00 to $100.00 in a report on Monday, November 25th. Piper Sandler restated an “overweight” rating and issued a $83.00 target price on shares of Block in a research note on Monday, November 11th. Macquarie lifted their price target on Block from $100.00 to $110.00 and gave the stock an “outperform” rating in a research report on Tuesday, December 10th. Finally, Barclays increased their price objective on Block from $100.00 to $112.00 and gave the company an “overweight” rating in a report on Tuesday, December 17th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and twenty-seven have assigned a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $97.35.

Insider Buying and Selling

In other Block news, insider Brian Grassadonia sold 8,328 shares of Block stock in a transaction on Thursday, November 21st. The shares were sold at an average price of $91.18, for a total transaction of $759,347.04. Following the sale, the insider now owns 563,894 shares of the company’s stock, valued at $51,415,854.92. The trade was a 1.46 % decrease in their position. The sale 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 stock in a transaction dated Monday, November 11th. The shares were 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 owns 88,607 shares of the company’s stock, valued at $7,088,560. This trade represents a 3.24 % decrease in their ownership of the stock. 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. Insiders own 10.49% of the company’s stock.

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.