Legal Advantage Investments Inc. Grows Position in Block, Inc. (NYSE:SQ)

Legal Advantage Investments Inc. boosted its stake in shares of Block, Inc. (NYSE:SQ) by 13.2% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 23,160 shares of the technology company’s stock after purchasing an additional 2,700 shares during the period. Legal Advantage Investments Inc.’s holdings in Block were worth $1,968,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of SQ. Envestnet Asset Management Inc. grew its position in Block by 5.4% during the 2nd quarter. Envestnet Asset Management Inc. now owns 266,067 shares of the technology company’s stock worth $17,159,000 after purchasing an additional 13,649 shares during the last quarter. Edgestream Partners L.P. grew its position in Block by 37.6% during the 2nd quarter. Edgestream Partners L.P. now owns 4,833 shares of the technology company’s stock worth $312,000 after purchasing an additional 1,321 shares during the last quarter. AE Wealth Management LLC grew its position in Block by 9.3% during the 2nd quarter. AE Wealth Management LLC now owns 3,780 shares of the technology company’s stock worth $244,000 after purchasing an additional 321 shares during the last quarter. Legacy Financial Advisors Inc. grew its position in Block by 7.0% during the 2nd quarter. Legacy Financial Advisors Inc. now owns 3,557 shares of the technology company’s stock worth $229,000 after purchasing an additional 232 shares during the last quarter. Finally, Frank Rimerman Advisors LLC purchased a new stake in shares of Block in the 2nd quarter valued at $238,000. Hedge funds and other institutional investors own 70.44% of the company’s stock.

Block Trading Up 0.7 %

Shares of SQ opened at $87.00 on Tuesday. The company has a current ratio of 2.07, a quick ratio of 2.07 and a debt-to-equity ratio of 0.26. Block, Inc. has a 12-month low of $55.00 and a 12-month high of $99.26. The firm has a 50-day moving average price of $89.61 and a 200 day moving average price of $74.82. The firm has a market capitalization of $53.92 billion, a P/E ratio of 48.88, a P/E/G ratio of 0.79 and a beta of 2.51.

Wall Street Analyst Weigh In

Several analysts have recently commented on SQ shares. William Blair reaffirmed an “outperform” rating on shares of Block in a report on Friday, November 15th. BNP Paribas downgraded shares of Block from an “outperform” rating to a “neutral” rating and set a $88.00 price objective on the stock. in a report on Wednesday, November 20th. Macquarie upped their price objective on shares of Block from $100.00 to $110.00 and gave the company an “outperform” rating in a report on Tuesday, December 10th. Oppenheimer raised shares of Block from a “market perform” rating to an “outperform” rating and set a $115.00 price objective on the stock in a report on Thursday, December 19th. Finally, Morgan Stanley increased their price target on shares of Block from $60.00 to $65.00 and gave the stock an “underweight” rating in a report on Wednesday, December 18th. One analyst has rated the stock with a sell rating, five have assigned a hold rating and twenty-seven have assigned a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $97.68.

Insider Activity at Block

In other Block news, insider Owen Britton Jennings sold 2,836 shares of the stock in a transaction dated Thursday, January 2nd. The shares were sold at an average price of $89.38, for a total transaction of $253,481.68. Following the completion of the transaction, the insider now owns 195,449 shares of the company’s stock, valued at $17,469,231.62. This trade represents a 1.43 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CAO Ajmere Dale sold 1,000 shares of the stock in a transaction dated Monday, November 11th. The stock was sold at an average price of $80.00, for a total transaction of $80,000.00. Following the transaction, the chief accounting officer now directly owns 88,791 shares of the company’s stock, valued at approximately $7,103,280. This trade represents a 1.11 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 29,981 shares of company stock valued at $2,681,185. 10.49% of the stock is owned by company insiders.

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.