United Advisor Group LLC Purchases Shares of 25,899 Block, Inc. (NYSE:SQ)

by · The Cerbat Gem

United Advisor Group LLC acquired a new stake in shares of Block, Inc. (NYSE:SQ – Free Report) in the third quarter, according to the company in its most recent filing with the SEC. The firm acquired 25,899 shares of the technology company’s stock, valued at approximately $1,739,000.

Several other institutional investors and hedge funds have also modified their holdings of the stock. LRI Investments LLC purchased a new position in Block during the first quarter valued at approximately $34,000. Unique Wealth Strategies LLC acquired a new position in shares of Block in the 2nd quarter valued at $34,000. V Square Quantitative Management LLC purchased a new stake in Block during the third quarter worth $46,000. Migdal Insurance & Financial Holdings Ltd. acquired a new stake in Block during the second quarter valued at $44,000. Finally, Hobbs Group Advisors LLC purchased a new position in Block in the second quarter valued at $49,000. Institutional investors and hedge funds own 70.44% of the company’s stock.

Block Trading Up 0.7 %

Shares of SQ stock opened at $72.69 on Tuesday. Block, Inc. has a fifty-two week low of $48.15 and a fifty-two week high of $87.52. The company has a 50 day moving average price of $68.15 and a 200 day moving average price of $66.86. The stock has a market capitalization of $44.75 billion, a P/E ratio of 56.79, a price-to-earnings-growth ratio of 0.99 and a beta of 2.48. The company has a debt-to-equity ratio of 0.26, a quick ratio of 1.82 and a current ratio of 1.82.

Analyst Ratings Changes

SQ has been the subject of several recent analyst reports. Wells Fargo & Company cut their price target on Block from $95.00 to $85.00 and set an “overweight” rating for the company in a research note on Friday, August 2nd. Oppenheimer initiated coverage on Block in a research note on Tuesday, October 1st. They set a “market perform” rating for the company. Benchmark reissued a “buy” rating and issued a $99.00 price target on shares of Block in a research note on Friday, August 2nd. Needham & Company LLC reduced their price objective on shares of Block from $105.00 to $80.00 and set a “buy” rating for the company in a research report on Monday, August 5th. Finally, Macquarie reissued an “outperform” rating and set a $100.00 target price on shares of Block in a research note on Friday, July 26th. One analyst has rated the stock with a sell rating, five have issued a hold rating, twenty-four have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, Block currently has an average rating of “Moderate Buy” and a consensus target price of $88.79.

Get Our Latest Stock Report on SQ

Insider Buying and Selling at Block

In related news, CAO Ajmere Dale sold 500 shares of the business’s stock in a transaction on Tuesday, August 13th. The stock was sold at an average price of $61.88, for a total transaction of $30,940.00. Following the completion of the transaction, the chief accounting officer now directly owns 92,366 shares of the company’s stock, valued at $5,715,608.08. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In other news, CFO Amrita Ahuja sold 6,661 shares of the company’s stock in a transaction dated Wednesday, August 21st. The stock was sold at an average price of $64.70, for a total transaction of $430,966.70. Following the completion of the transaction, the chief financial officer now directly owns 264,697 shares of the company’s stock, valued at approximately $17,125,895.90. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CAO Ajmere Dale sold 500 shares of the stock in a transaction dated Tuesday, August 13th. The shares were sold at an average price of $61.88, for a total value of $30,940.00. Following the completion of the transaction, the chief accounting officer now owns 92,366 shares in the company, valued at approximately $5,715,608.08. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 25,214 shares of company stock valued at $1,637,932 in the last 90 days. Company insiders own 10.49% of the company’s stock.

Block Profile

(Free Report)

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.

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