RMR Wealth Builders Sells 456 Shares of Block, Inc. (NYSE:SQ)

RMR Wealth Builders reduced its stake in Block, Inc. (NYSE:SQ) by 12.7% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 3,140 shares of the technology company’s stock after selling 456 shares during the period. RMR Wealth Builders’ holdings in Block were worth $267,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Acadian Asset Management LLC bought a new stake in Block during the 2nd quarter valued at $443,000. Quest Partners LLC raised its stake in shares of Block by 1,307.8% during the second quarter. Quest Partners LLC now owns 8,095 shares of the technology company’s stock valued at $522,000 after acquiring an additional 7,520 shares during the last quarter. Royal London Asset Management Ltd. boosted its holdings in shares of Block by 2.4% during the second quarter. Royal London Asset Management Ltd. now owns 218,839 shares of the technology company’s stock worth $14,113,000 after purchasing an additional 5,038 shares during the period. LPL Financial LLC boosted its holdings in shares of Block by 10.1% during the second quarter. LPL Financial LLC now owns 526,501 shares of the technology company’s stock worth $33,954,000 after purchasing an additional 48,107 shares during the period. Finally, Achmea Investment Management B.V. grew its stake in shares of Block by 1.7% in the second quarter. Achmea Investment Management B.V. now owns 121,223 shares of the technology company’s stock worth $7,817,000 after purchasing an additional 2,000 shares during the last quarter. Institutional investors own 70.44% of the company’s stock.

Insider Transactions at Block

In other Block news, CFO Amrita Ahuja sold 1,502 shares of the business’s stock in a transaction dated Thursday, January 2nd. The stock was sold at an average price of $86.52, for a total transaction of $129,953.04. Following the completion of the sale, the chief financial officer now directly owns 242,199 shares in the company, valued at $20,955,057.48. The trade was a 0.62 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CAO Ajmere Dale sold 1,000 shares of the stock in a transaction that occurred on Monday, November 11th. The stock was sold at an average price of $80.00, for a total transaction of $80,000.00. Following the completion of the transaction, the chief accounting officer now owns 88,791 shares in the company, valued at $7,103,280. This trade represents a 1.11 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 29,981 shares of company stock worth $2,681,185 over the last three months. 10.49% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on the company. Oppenheimer upgraded Block from a “market perform” rating to an “outperform” rating and set a $115.00 price objective for the company in a report on Thursday, December 19th. BNP Paribas lowered Block from an “outperform” rating to a “neutral” rating and set a $88.00 price target for the company. in a research note on Wednesday, November 20th. BMO Capital Markets cut shares of Block from an “outperform” rating to a “market perform” rating and lifted their price target for the company from $94.00 to $100.00 in a report on Monday, November 25th. Barclays upped their price objective on shares of Block from $100.00 to $112.00 and gave the stock an “overweight” rating in a report on Tuesday, December 17th. Finally, Monness Crespi & Hardt raised shares of Block from a “neutral” rating to a “buy” rating and set a $115.00 target price on the stock in a research note on Friday, December 13th. One research analyst has rated the stock with a sell rating, five have given a hold rating and twenty-seven have assigned a buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $96.77.

Block Price Performance

Shares of NYSE:SQ opened at $82.66 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 firm has a market cap of $51.23 billion, a price-to-earnings ratio of 46.44, a price-to-earnings-growth ratio of 1.23 and a beta of 2.51. The business has a 50-day simple moving average of $88.60 and a two-hundred day simple moving average of $73.96. Block, Inc. has a fifty-two week low of $55.00 and a fifty-two week high of $99.26.

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.