Udine Wealth Management Inc. Acquires New Position in Block, Inc. (NYSE:SQ)

Udine Wealth Management Inc. bought a new position in Block, Inc. (NYSE:SQ) in the 4th quarter, Holdings Channel.com reports. The institutional investor bought 11,208 shares of the technology company’s stock, valued at approximately $953,000.

Several other large investors have also bought and sold shares of the company. KRS Capital Management LLC raised its stake in shares of Block by 11.5% in the fourth quarter. KRS Capital Management LLC now owns 8,832 shares of the technology company’s stock worth $751,000 after purchasing an additional 912 shares during the last quarter. Premier Path Wealth Partners LLC increased its holdings in Block by 8.6% in the 4th 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 in the last quarter. Stonekeep Investments LLC raised its position in Block by 21.2% in the 4th 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. Arkadios Wealth Advisors lifted its stake in Block by 21.0% during the 4th quarter. Arkadios Wealth Advisors now owns 40,656 shares of the technology company’s stock valued at $3,455,000 after acquiring an additional 7,054 shares during the period. Finally, DB Fitzpatrick & Co Inc boosted its holdings in shares of Block by 11.0% during the 4th quarter. DB Fitzpatrick & Co Inc now owns 19,167 shares of the technology company’s stock valued at $1,629,000 after acquiring an additional 1,901 shares during the last quarter. 70.44% of the stock is owned by hedge funds and other institutional investors.

Block Price Performance

Shares of SQ opened at $87.00 on Friday. The stock has a market capitalization of $53.92 billion, a PE ratio of 48.88, a PEG ratio of 0.75 and a beta of 2.51. The company has a 50 day moving average price of $89.61 and a 200-day moving average price of $74.75. The company has a debt-to-equity ratio of 0.26, a quick ratio of 2.07 and a current ratio of 2.07. Block, Inc. has a fifty-two week low of $55.00 and a fifty-two week high of $99.26.

Analysts Set New Price Targets

Several research analysts have recently weighed in on SQ shares. Monness Crespi & Hardt raised shares of Block from a “neutral” rating to a “buy” rating and set a $115.00 price objective for the company in a report on Friday, December 13th. 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. William Blair reissued an “outperform” rating on shares of Block in a report on Friday, November 15th. BMO Capital Markets lowered Block from an “outperform” rating to a “market perform” rating and lifted their price objective for the stock from $94.00 to $100.00 in a report on Monday, November 25th. Finally, Morgan Stanley upped their price objective on Block from $60.00 to $65.00 and gave the company an “underweight” rating in a research report on Wednesday, December 18th. One research 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’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $97.68.

Insiders Place Their Bets

In other Block news, insider Chrysty Esperanza sold 2,964 shares of the firm’s stock in a transaction on Monday, November 11th. The shares were sold at an average price of $80.00, for a total value of $237,120.00. Following the completion of the transaction, the insider now owns 88,607 shares of the company’s stock, valued at approximately $7,088,560. This trade represents a 3.24 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CFO Amrita Ahuja sold 1,502 shares of Block stock in a transaction dated Thursday, January 2nd. The stock was sold at an average price of $86.52, for a total value of $129,953.04. Following the sale, the chief financial officer now directly owns 242,199 shares of the company’s stock, valued at approximately $20,955,057.48. This represents a 0.62 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 29,981 shares of company stock worth $2,681,185 over the last 90 days. Company insiders own 10.49% of the company’s stock.

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.