Block, Inc. (NYSE:SQ) Shares Purchased by Captrust Financial Advisors

Captrust Financial Advisors grew its stake in Block, Inc. (NYSE:SQ) by 4.4% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 23,320 shares of the technology company’s stock after buying an additional 988 shares during the period. Captrust Financial Advisors’ holdings in Block were worth $1,565,000 at the end of the most recent reporting period.

Several other hedge funds also recently made changes to their positions in the company. SouthState Corp lifted its position in Block by 85.3% during the 3rd quarter. SouthState Corp now owns 391 shares of the technology company’s stock worth $26,000 after acquiring an additional 180 shares during the period. Unique Wealth Strategies LLC acquired a new stake in shares of Block during the second quarter worth $34,000. Migdal Insurance & Financial Holdings Ltd. acquired a new stake in shares of Block during the second quarter worth $44,000. V Square Quantitative Management LLC acquired a new stake in shares of Block during the third quarter worth $46,000. Finally, LRI Investments LLC lifted 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 worth $48,000 after acquiring an additional 341 shares during the period. Hedge funds and other institutional investors own 70.44% of the company’s stock.

Insider Activity

In related news, CAO Ajmere Dale sold 500 shares of Block stock in a transaction dated 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 directly owns 90,460 shares in the company, valued at approximately $6,060,820. This trade represents a 0.55 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Brian Grassadonia sold 1,884 shares of Block stock in a transaction on Wednesday, October 2nd. The stock was sold at an average price of $65.41, for a total transaction of $123,232.44. Following the completion of the transaction, the insider now directly owns 574,914 shares of the company’s stock, valued at approximately $37,605,124.74. This represents a 0.33 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 31,918 shares of company stock worth $2,666,147 over the last ninety days. Corporate insiders own 10.49% of the company’s stock.

Analyst Upgrades and Downgrades

SQ has been the subject of a number of recent analyst reports. BMO Capital Markets downgraded shares of Block from an “outperform” rating to a “market perform” rating and raised their price objective for the company from $94.00 to $100.00 in a research report on Monday, November 25th. Canaccord Genuity Group lifted their price target on Block from $95.00 to $120.00 and gave the stock a “buy” rating in a research note on Tuesday, November 12th. New Street Research assumed coverage on Block in a research report on Monday, September 9th. They set a “neutral” rating and a $70.00 price objective for the company. Piper Sandler reissued an “overweight” rating and issued a $83.00 price objective on shares of Block in a research report on Monday, November 11th. Finally, Keefe, Bruyette & Woods boosted their price objective on shares of Block from $71.00 to $80.00 and gave the company a “market perform” rating in a research report on Friday, November 8th. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and twenty-three have issued a buy rating to the company. Based on data from MarketBeat.com, Block has a consensus rating of “Moderate Buy” and an average target price of $92.96.

Block Price Performance

SQ opened at $98.26 on Friday. The company has a fifty day simple moving average of $78.93 and a 200 day simple moving average of $69.56. The firm has a market cap of $60.90 billion, a price-to-earnings ratio of 55.20, a PEG ratio of 1.26 and a beta of 2.50. Block, Inc. has a twelve month low of $55.00 and a twelve month high of $99.26. The company has a current ratio of 2.07, a quick ratio of 2.07 and a debt-to-equity ratio of 0.26.

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.