Johnson & White Wealth Management LLC Buys Shares of 2,549 Block, Inc. (NYSE:SQ)

Johnson & White Wealth Management LLC purchased a new stake in shares of Block, Inc. (NYSE:SQ) in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund purchased 2,549 shares of the technology company’s stock, valued at approximately $221,000.

Several other institutional investors have also recently made changes to their positions in SQ. Southpoint Capital Advisors LP bought a new stake in Block during the 3rd quarter valued at approximately $114,121,000. Massachusetts Financial Services Co. MA boosted its holdings in shares of Block by 770.0% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 1,738,708 shares of the technology company’s stock valued at $116,719,000 after purchasing an additional 1,538,849 shares during the last quarter. Lone Pine Capital LLC boosted its holdings in shares of Block by 13.9% during the 2nd quarter. Lone Pine Capital LLC now owns 7,670,523 shares of the technology company’s stock valued at $494,672,000 after purchasing an additional 934,588 shares during the last quarter. D1 Capital Partners L.P. boosted its holdings in shares of Block by 76.7% during the 2nd quarter. D1 Capital Partners L.P. now owns 1,831,342 shares of the technology company’s stock valued at $118,103,000 after purchasing an additional 795,000 shares during the last quarter. Finally, Canada Pension Plan Investment Board boosted its holdings in shares of Block by 1,061.0% during the 2nd quarter. Canada Pension Plan Investment Board now owns 657,667 shares of the technology company’s stock valued at $42,413,000 after purchasing an additional 601,020 shares during the last quarter. Institutional investors own 70.44% of the company’s stock.

Block Stock Down 0.5 %

Shares of SQ opened at $82.15 on Tuesday. Block, Inc. has a 1 year low of $55.00 and a 1 year high of $99.26. The stock has a market capitalization of $50.92 billion, a PE ratio of 46.15, a P/E/G ratio of 1.23 and a beta of 2.51. The company has a debt-to-equity ratio of 0.26, a quick ratio of 2.07 and a current ratio of 2.07. The company’s 50-day simple moving average is $88.79 and its 200-day simple moving average is $74.23.

Insider Buying and Selling

In other news, CFO Amrita Ahuja sold 1,502 shares of the business’s stock in a transaction dated Thursday, January 2nd. The shares were sold at an average price of $86.52, for a total transaction of $129,953.04. Following the transaction, the chief financial officer now directly owns 242,199 shares in the company, valued at $20,955,057.48. The trade was a 0.62 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CAO Ajmere Dale sold 1,000 shares of the business’s stock in a transaction dated Monday, November 11th. The stock was sold at an average price of $80.00, for a total transaction of $80,000.00. Following the transaction, the chief accounting officer now owns 88,791 shares in the company, valued at approximately $7,103,280. This trade represents a 1.11 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 29,981 shares of company stock worth $2,681,185 over the last 90 days. 10.49% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on SQ. Oppenheimer raised shares of Block from a “market perform” rating to an “outperform” rating and set a $115.00 price target for the company in a report on Thursday, December 19th. Keefe, Bruyette & Woods lowered their price target on shares of Block from $105.00 to $100.00 and set a “market perform” rating for the company in a report on Monday, January 6th. The Goldman Sachs Group increased their price objective 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. Royal Bank of Canada reissued an “outperform” rating and issued a $88.00 price objective on shares of Block in a research report on Monday, October 21st. Finally, BNP Paribas lowered shares of Block from an “outperform” rating to a “neutral” rating and set a $88.00 price objective on the stock. in a research report on Wednesday, November 20th. One investment 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 stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $96.77.

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.