Ridgewood Investments LLC Reduces Stock Holdings in Block, Inc. (NYSE:SQ)

Ridgewood Investments LLC trimmed its position in Block, Inc. (NYSE:SQ) by 27.6% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 1,295 shares of the technology company’s stock after selling 494 shares during the period. Ridgewood Investments LLC’s holdings in Block were worth $110,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also bought and sold shares of the company. SouthState Corp boosted its position in Block by 85.3% in the third quarter. SouthState Corp now owns 391 shares of the technology company’s stock worth $26,000 after purchasing an additional 180 shares during the last quarter. True Wealth Design LLC raised 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 valued at $33,000 after purchasing an additional 194 shares during the period. Versant Capital Management Inc raised its stake in Block by 67.7% during the 4th quarter. Versant Capital Management Inc now owns 394 shares of the technology company’s stock valued at $33,000 after purchasing an additional 159 shares during the period. V Square Quantitative Management LLC bought a new stake in Block during the 3rd quarter valued at approximately $46,000. Finally, Future Financial Wealth Managment LLC bought a new stake in Block during the 3rd quarter valued at approximately $57,000. 70.44% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, insider Chrysty Esperanza sold 2,964 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 $237,120.00. Following the completion of the transaction, 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 transaction was disclosed in a legal filing with the SEC, which is accessible through this link. 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 completion of the transaction, the chief accounting officer now directly owns 88,791 shares of the company’s stock, valued at approximately $7,103,280. The trade was a 1.11 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 29,981 shares of company stock worth $2,681,185. 10.49% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on the company. Canaccord Genuity Group lifted their target price on Block from $95.00 to $120.00 and gave the company a “buy” rating in a research note on Tuesday, November 12th. Needham & Company LLC lifted their target price on Block from $80.00 to $90.00 and gave the company a “buy” rating in a research note on Friday, November 8th. Keefe, Bruyette & Woods decreased their target price on Block from $105.00 to $100.00 and set a “market perform” rating on the stock in a research note on Monday, January 6th. Macquarie lifted their target price on Block from $100.00 to $110.00 and gave the company an “outperform” rating in a research note on Tuesday, December 10th. Finally, William Blair reaffirmed an “outperform” rating on shares of Block in a research note on Friday, November 15th. 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. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $96.77.

Block Price Performance

Shares of SQ stock opened at $82.66 on Friday. Block, Inc. has a twelve month low of $55.00 and a twelve month high of $99.26. The stock has a market capitalization of $51.23 billion, a price-to-earnings ratio of 46.44, a P/E/G ratio of 1.23 and a beta of 2.51. The stock has a fifty day simple moving average of $88.60 and a two-hundred day simple moving average of $73.96. The company has a current ratio of 2.07, a quick ratio of 2.07 and a debt-to-equity ratio of 0.26.

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.