Prospera Financial Services Inc Increases Stock Holdings in Block, Inc. (NYSE:SQ)

Prospera Financial Services Inc lifted its position in Block, Inc. (NYSE:SQ) by 4.7% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 8,498 shares of the technology company’s stock after purchasing an additional 383 shares during the quarter. Prospera Financial Services Inc’s holdings in Block were worth $571,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently modified their holdings of the company. Yoder Wealth Management Inc. grew its holdings in shares of Block by 0.4% in the third quarter. Yoder Wealth Management Inc. now owns 39,688 shares of the technology company’s stock valued at $2,664,000 after purchasing an additional 145 shares during the period. Nations Financial Group Inc. IA ADV boosted its stake in Block by 1.9% during the third quarter. Nations Financial Group Inc. IA ADV now owns 7,744 shares of the technology company’s stock worth $520,000 after buying an additional 145 shares during the period. Moser Wealth Advisors LLC boosted its stake in Block by 2.5% during the third quarter. Moser Wealth Advisors LLC now owns 6,265 shares of the technology company’s stock worth $421,000 after buying an additional 153 shares during the period. Lindbrook Capital LLC boosted its stake in Block by 6.3% during the third quarter. Lindbrook Capital LLC now owns 2,592 shares of the technology company’s stock worth $174,000 after buying an additional 154 shares during the period. Finally, Quintet Private Bank Europe S.A. boosted its stake in Block by 13.8% during the third quarter. Quintet Private Bank Europe S.A. now owns 1,351 shares of the technology company’s stock worth $91,000 after buying an additional 164 shares during the period. Hedge funds and other institutional investors own 70.44% of the company’s stock.

Insider Transactions at Block

In related news, insider Brian Grassadonia sold 1,884 shares of Block stock in a transaction on Wednesday, October 2nd. The shares were sold at an average price of $65.41, for a total value of $123,232.44. Following the transaction, the insider now directly owns 574,914 shares in the company, valued at $37,605,124.74. This trade represents a 0.33 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Chrysty Esperanza sold 2,964 shares of Block stock in a transaction on Monday, November 11th. The shares were sold at an average price of $80.00, for a total transaction of $237,120.00. Following the completion of the transaction, the insider now owns 88,607 shares in the company, valued at approximately $7,088,560. This trade represents a 3.24 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 12,283 shares of company stock worth $862,773. Insiders own 10.49% of the company’s stock.

Block Stock Performance

Shares of SQ opened at $92.26 on Friday. 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 market cap of $57.18 billion, a PE ratio of 51.83, a price-to-earnings-growth ratio of 1.25 and a beta of 2.48. The company’s 50 day simple moving average is $73.83 and its 200-day simple moving average is $68.10. Block, Inc. has a 12-month low of $55.00 and a 12-month high of $94.12.

Analyst Ratings Changes

Several brokerages have weighed in on SQ. William Blair reaffirmed an “outperform” rating on shares of Block in a research note on Friday, November 15th. Benchmark reaffirmed a “buy” rating and set a $99.00 target price on shares of Block in a research note on Friday, August 2nd. Needham & Company LLC increased their target price on shares of Block from $80.00 to $90.00 and gave the stock a “buy” rating in a research note on Friday, November 8th. Piper Sandler reaffirmed an “overweight” rating and set a $83.00 target price on shares of Block in a research note on Monday, November 11th. Finally, Canaccord Genuity Group increased their price target 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. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and twenty-four have given a buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $91.18.

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.