20,920 Shares in Block, Inc. (NYSE:SQ) Purchased by BNC Wealth Management LLC

BNC Wealth Management LLC acquired a new position in shares of Block, Inc. (NYSE:SQ) in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 20,920 shares of the technology company’s stock, valued at approximately $1,778,000.

A number of other large investors have also added to or reduced their stakes in the stock. Udine Wealth Management Inc. purchased a new stake in Block during the fourth quarter worth about $953,000. KRS Capital Management LLC increased its holdings in Block by 11.5% during the fourth quarter. KRS Capital Management LLC now owns 8,832 shares of the technology company’s stock worth $751,000 after buying an additional 912 shares during the last quarter. Premier Path Wealth Partners LLC increased its holdings in Block by 8.6% during the fourth quarter. Premier Path Wealth Partners LLC now owns 6,411 shares of the technology company’s stock worth $545,000 after buying an additional 508 shares during the last quarter. Stonekeep Investments LLC increased its holdings in Block by 21.2% during the fourth quarter. Stonekeep Investments LLC now owns 4,606 shares of the technology company’s stock worth $391,000 after buying an additional 805 shares during the last quarter. Finally, Arkadios Wealth Advisors increased its holdings in Block by 21.0% during the fourth quarter. Arkadios Wealth Advisors now owns 40,656 shares of the technology company’s stock worth $3,455,000 after buying an additional 7,054 shares during the last quarter. Hedge funds and other institutional investors own 70.44% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on SQ shares. Oppenheimer upgraded shares of Block from a “market perform” rating to an “outperform” rating and set a $115.00 target price for the company in a research report on Thursday, December 19th. Canaccord Genuity Group increased their target price on shares of Block from $95.00 to $120.00 and gave the stock a “buy” rating in a research report on Tuesday, November 12th. William Blair reiterated an “outperform” rating on shares of Block in a research report on Friday, November 15th. Citigroup increased their target price on shares of Block from $90.00 to $108.00 and gave the stock a “buy” rating in a research report on Tuesday, January 14th. Finally, Keefe, Bruyette & Woods cut their target price on shares of Block from $105.00 to $100.00 and set a “market perform” rating for the company in a research report on Monday, January 6th. One analyst has rated the stock with a sell rating, five have given a hold rating and twenty-seven have issued a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $97.68.

Insider Transactions at Block

In related news, CAO Ajmere Dale sold 1,000 shares of the company’s stock in a transaction that occurred on Monday, November 11th. The stock was sold at an average price of $80.00, for a total value of $80,000.00. Following the sale, the chief accounting officer now owns 88,791 shares in the company, valued at $7,103,280. This represents a 1.11 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Brian Grassadonia sold 8,328 shares of the company’s stock in a transaction that occurred on Thursday, November 21st. The shares were sold at an average price of $91.18, for a total value of $759,347.04. Following the completion of the sale, the insider now owns 563,894 shares in the company, valued at approximately $51,415,854.92. This represents a 1.46 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 29,981 shares of company stock worth $2,681,185. Insiders own 10.49% of the company’s stock.

Block Price Performance

Shares of SQ stock opened at $87.00 on Friday. Block, Inc. has a fifty-two week low of $55.00 and a fifty-two week high of $99.26. The firm has a market capitalization of $53.92 billion, a price-to-earnings ratio of 48.88, a PEG ratio of 0.75 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 stock’s 50-day simple moving average is $89.61 and its 200-day simple moving average is $74.75.

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.