Insight Wealth Strategies LLC Invests $3.92 Million in Block, Inc. (NYSE:SQ)

Insight Wealth Strategies LLC acquired a new stake in Block, Inc. (NYSE:SQ) during the 4th quarter, according to its most recent disclosure with the SEC. The fund acquired 46,089 shares of the technology company’s stock, valued at approximately $3,917,000.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. Southpoint Capital Advisors LP bought a new position in shares of Block in the 3rd quarter valued at about $114,121,000. Massachusetts Financial Services Co. MA grew its stake in Block by 770.0% in the third 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 in the last quarter. Lone Pine Capital LLC increased its position 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 worth $494,672,000 after purchasing an additional 934,588 shares during the last quarter. D1 Capital Partners L.P. raised its stake 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 worth $118,103,000 after purchasing an additional 795,000 shares in the last quarter. Finally, Canada Pension Plan Investment Board boosted its holdings in shares of Block by 1,061.0% in 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 buying an additional 601,020 shares during the last quarter. 70.44% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

SQ has been the subject of a number of recent analyst reports. William Blair reiterated an “outperform” rating on shares of Block in a research note on Friday, November 15th. Sanford C. Bernstein raised their target price on shares of Block from $90.00 to $120.00 and gave the company an “outperform” rating in a research note on Monday, December 2nd. Morgan Stanley boosted their price target on Block from $60.00 to $65.00 and gave the stock an “underweight” rating in a research report on Wednesday, December 18th. BMO Capital Markets cut 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. Finally, Raymond James raised Block from a “market perform” rating to an “outperform” rating and set a $115.00 target price on the stock in a report on Friday. One research analyst has rated the stock with a sell rating, five have issued a hold rating and twenty-seven have given a buy rating to the company’s stock. According to MarketBeat, Block has a consensus rating of “Moderate Buy” and an average price target of $96.77.

Insider Activity at Block

In other Block news, insider Brian Grassadonia sold 8,328 shares of Block stock in a transaction dated Thursday, November 21st. The stock was sold at an average price of $91.18, for a total transaction of $759,347.04. Following the transaction, the insider now directly owns 563,894 shares of the company’s stock, valued at approximately $51,415,854.92. The trade was a 1.46 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CAO Ajmere Dale sold 1,000 shares of the company’s stock in a transaction on Monday, November 11th. The shares were sold at an average price of $80.00, for a total transaction of $80,000.00. Following the completion of the sale, the chief accounting officer now directly owns 88,791 shares in the company, valued at approximately $7,103,280. This represents a 1.11 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 23,599 shares of company stock valued at $2,120,494 in the last 90 days. 10.49% of the stock is owned by corporate insiders.

Block Price Performance

Shares of SQ stock traded down $0.51 on Monday, reaching $91.65. The company had a trading volume of 4,624,624 shares, compared to its average volume of 6,939,837. The stock has a market capitalization of $56.81 billion, a PE ratio of 51.49, a price-to-earnings-growth ratio of 1.23 and a beta of 2.51. 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 business’s 50-day moving average is $87.20 and its 200 day moving average is $73.27. Block, Inc. has a one year low of $55.00 and a one year high of $99.26.

Block Company 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.