BNC Wealth Management LLC Purchases Shares of 20,920 Block, Inc. (NYSE:SQ)

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

A number of other large investors also recently bought and sold shares of the stock. Baillie Gifford & Co. raised its stake in shares of Block by 1.5% during the 3rd quarter. Baillie Gifford & Co. now owns 10,233,102 shares of the technology company’s stock worth $686,948,000 after buying an additional 147,873 shares during the period. Geode Capital Management LLC raised its stake in shares of Block by 1.6% during the 3rd quarter. Geode Capital Management LLC now owns 8,690,075 shares of the technology company’s stock worth $581,923,000 after buying an additional 133,002 shares during the period. Lone Pine Capital LLC raised its stake 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 buying an additional 934,588 shares during the period. Charles Schwab Investment Management Inc. raised its stake in shares of Block by 2.1% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 2,202,388 shares of the technology company’s stock worth $147,846,000 after buying an additional 45,472 shares during the period. Finally, Dimensional Fund Advisors LP increased its position in shares of Block by 17.8% during the second quarter. Dimensional Fund Advisors LP now owns 2,157,733 shares of the technology company’s stock worth $139,143,000 after purchasing an additional 326,444 shares in the last quarter. 70.44% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

SQ has been the subject of several research reports. William Blair reiterated an “outperform” rating on shares of Block in a research report on Friday, November 15th. Needham & Company LLC boosted their price target on Block from $80.00 to $90.00 and gave the stock a “buy” rating in a research report on Friday, November 8th. Piper Sandler reiterated an “overweight” rating and set a $83.00 price target on shares of Block in a research report on Monday, November 11th. BMO Capital Markets cut Block from an “outperform” rating to a “market perform” rating and boosted their price target for the stock from $94.00 to $100.00 in a research report on Monday, November 25th. Finally, Sanford C. Bernstein boosted their price target on Block from $90.00 to $120.00 and gave the stock an “outperform” rating in a research report on Monday, December 2nd. One analyst has rated the stock with a sell rating, five have issued a hold rating and twenty-seven have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $97.68.

Block Stock Performance

Shares of SQ opened at $87.00 on Friday. 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 has a market capitalization of $53.92 billion, a P/E ratio of 48.88, a P/E/G ratio of 0.75 and a beta of 2.51. The company’s fifty day moving average is $89.61 and its two-hundred day moving average is $74.75. Block, Inc. has a 1 year low of $55.00 and a 1 year high of $99.26.

Insider Buying and Selling at Block

In related news, insider Chrysty Esperanza sold 2,964 shares of the stock in a transaction dated Monday, November 11th. The shares were sold at an average price of $80.00, for a total value of $237,120.00. Following the sale, the insider now directly owns 88,607 shares of the company’s stock, valued at approximately $7,088,560. This represents a 3.24 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CAO Ajmere Dale sold 1,000 shares of the stock in a transaction dated 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. The trade was a 1.11 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 29,981 shares of company stock valued at $2,681,185. 10.49% of the stock is owned by company insiders.

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.