OneDigital Investment Advisors LLC Raises Stake in Block, Inc. (NYSE:SQ)

OneDigital Investment Advisors LLC raised its stake in shares of Block, Inc. (NYSE:SQ) by 14.1% during the third quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 6,593 shares of the technology company’s stock after buying an additional 813 shares during the quarter. OneDigital Investment Advisors LLC’s holdings in Block were worth $443,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently bought and sold shares of the company. LRI Investments LLC purchased a new position in shares of Block in the 1st quarter valued at $34,000. Unique Wealth Strategies LLC acquired a new stake in shares of Block in the 2nd quarter worth about $34,000. Migdal Insurance & Financial Holdings Ltd. acquired a new position in shares of Block during the second quarter valued at $44,000. V Square Quantitative Management LLC acquired a new position in shares of Block during the 3rd quarter valued at $46,000. Finally, Hobbs Group Advisors LLC bought a new stake in shares of Block in the 2nd quarter worth approximately $49,000. Institutional investors and hedge funds own 70.44% of the company’s stock.

Wall Street Analyst Weigh In

SQ has been the topic of several recent analyst reports. Piper Sandler restated an “overweight” rating and set a $83.00 price objective on shares of Block in a report on Monday, November 11th. BNP Paribas lowered shares of Block from an “outperform” rating to a “neutral” rating and set a $88.00 target price for the company. in a research report on Wednesday. Wells Fargo & Company reduced their price target on shares of Block from $95.00 to $85.00 and set an “overweight” rating for the company in a report on Friday, August 2nd. Morgan Stanley lowered their target price on shares of Block from $60.00 to $55.00 and set an “underweight” rating on the stock in a research note on Tuesday, July 30th. Finally, Oppenheimer began coverage on shares of Block in a research note on Tuesday, October 1st. They set a “market perform” rating on the stock. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and twenty-four have issued a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $91.18.

Insider Activity at Block

In other Block news, CAO Ajmere Dale sold 500 shares of the stock in a transaction that occurred on Tuesday, October 1st. The shares were sold at an average price of $67.00, for a total transaction of $33,500.00. Following the completion of the sale, the chief accounting officer now owns 90,460 shares of the company’s stock, valued at approximately $6,060,820. This represents a 0.55 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Brian Grassadonia sold 1,884 shares of the business’s stock in a transaction that occurred 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 owns 574,914 shares in the company, valued at $37,605,124.74. This trade represents a 0.33 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 12,283 shares of company stock valued at $862,773 in the last quarter. Insiders own 10.49% of the company’s stock.

Block Price Performance

Shares of NYSE:SQ opened at $89.69 on Thursday. Block, Inc. has a 12 month low of $55.00 and a 12 month high of $93.00. The stock has a market capitalization of $55.59 billion, a PE ratio of 50.39, a PEG ratio of 1.14 and a beta of 2.48. The company has a current ratio of 2.07, a quick ratio of 2.07 and a debt-to-equity ratio of 0.26. The firm has a 50 day moving average of $72.68 and a 200-day moving average of $67.82.

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.