One Wealth Management Investment & Advisory Services LLC Decreases Stock Holdings in Block, Inc. (NYSE:SQ)

One Wealth Management Investment & Advisory Services LLC cut its holdings in Block, Inc. (NYSE:SQ) by 5.2% in the third quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 10,929 shares of the technology company’s stock after selling 601 shares during the quarter. Block accounts for approximately 1.3% of One Wealth Management Investment & Advisory Services LLC’s investment portfolio, making the stock its 14th largest position. One Wealth Management Investment & Advisory Services LLC’s holdings in Block were worth $734,000 at the end of the most recent quarter.

Several other large investors also recently bought and sold shares of the business. Vanguard Group Inc. grew its stake in shares of Block by 0.9% during the first quarter. Vanguard Group Inc. now owns 36,511,250 shares of the technology company’s stock valued at $3,088,122,000 after buying an additional 318,549 shares during the last quarter. Capital World Investors raised its holdings in shares of Block by 4.7% in the first quarter. Capital World Investors now owns 13,096,614 shares of the technology company’s stock worth $1,107,712,000 after buying an additional 582,826 shares during the period. Baillie Gifford & Co. raised its holdings in shares of Block by 1.5% in the third 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. Lone Pine Capital LLC raised its holdings in shares of Block by 13.9% in the second 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. Finally, Dimensional Fund Advisors LP raised its holdings in shares of Block by 17.8% in the second quarter. Dimensional Fund Advisors LP now owns 2,157,733 shares of the technology company’s stock worth $139,143,000 after buying an additional 326,444 shares during the period. Institutional investors own 70.44% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on SQ shares. Oppenheimer started coverage on Block in a report on Tuesday, October 1st. They issued a “market perform” rating on the stock. Macquarie reiterated an “outperform” rating and issued a $100.00 price target on shares of Block in a report on Friday, July 26th. Wells Fargo & Company reduced their price target on Block from $95.00 to $85.00 and set an “overweight” rating on the stock in a report on Friday, August 2nd. Needham & Company LLC raised their price objective on Block from $80.00 to $90.00 and gave the stock a “buy” rating in a report on Friday, November 8th. Finally, Piper Sandler restated an “overweight” rating and set a $83.00 price objective on shares of Block in a report on Monday. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating, twenty-three have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $91.30.

Block Stock Down 1.6 %

Block stock opened at $85.82 on Thursday. The company has a debt-to-equity ratio of 0.26, a current ratio of 2.07 and a quick ratio of 2.07. The stock has a market capitalization of $52.84 billion, a price-to-earnings ratio of 48.21, a PEG ratio of 1.18 and a beta of 2.48. Block, Inc. has a 1-year low of $53.82 and a 1-year high of $90.00. The business has a fifty day moving average price of $69.67 and a 200-day moving average price of $67.09.

Insiders Place Their Bets

In other Block news, CAO Ajmere Dale sold 1,406 shares of the business’s stock in a transaction that occurred on Wednesday, August 21st. The stock was sold at an average price of $64.70, for a total transaction of $90,968.20. Following the completion of the sale, the chief accounting officer now directly owns 90,960 shares in the company, valued at approximately $5,885,112. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, insider Chrysty Esperanza sold 2,964 shares of the stock in a transaction on Monday, November 11th. The stock was sold at an average price of $80.00, for a total value of $237,120.00. Following the transaction, the insider now owns 88,607 shares of the company’s stock, valued at $7,088,560. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CAO Ajmere Dale sold 1,406 shares of the company’s stock in a transaction on Wednesday, August 21st. The shares were sold at an average price of $64.70, for a total transaction of $90,968.20. Following the completion of the transaction, the chief accounting officer now owns 90,960 shares of the company’s stock, valued at $5,885,112. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 28,678 shares of company stock valued at $1,924,112. 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.