Lbmc Investment Advisors LLC Sells 500 Shares of Block, Inc. (NYSE:SQ)

Lbmc Investment Advisors LLC cut its position in shares of Block, Inc. (NYSE:SQ) by 11.0% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 4,042 shares of the technology company’s stock after selling 500 shares during the period. Lbmc Investment Advisors LLC’s holdings in Block were worth $344,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Baillie Gifford & Co. grew 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 valued at $686,948,000 after purchasing an additional 147,873 shares in the last quarter. Geode Capital Management LLC raised its stake in Block by 1.6% during the third quarter. Geode Capital Management LLC now owns 8,690,075 shares of the technology company’s stock valued at $581,923,000 after purchasing an additional 133,002 shares in the last quarter. Lone Pine Capital LLC lifted its position in Block by 13.9% during the second quarter. Lone Pine Capital LLC now owns 7,670,523 shares of the technology company’s stock valued at $494,672,000 after purchasing an additional 934,588 shares during the last quarter. Charles Schwab Investment Management Inc. grew its stake in shares of Block by 2.1% in 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 in the last quarter. Finally, Dimensional Fund Advisors LP increased its holdings in shares of Block by 17.8% in the 2nd 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 last quarter. Hedge funds and other institutional investors own 70.44% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on SQ shares. Monness Crespi & Hardt upgraded Block from a “neutral” rating to a “buy” rating and set a $115.00 price target for the company in a research report on Friday, December 13th. Sanford C. Bernstein increased their target price on Block from $90.00 to $120.00 and gave the stock an “outperform” rating in a research note on Monday, December 2nd. Raymond James raised shares of Block from a “market perform” rating to an “outperform” rating and set a $115.00 target price for the company in a research note on Friday, January 3rd. The Goldman Sachs Group lifted their price objective on shares of Block from $87.00 to $102.00 and gave the company a “buy” rating in a report on Monday, December 2nd. Finally, BMO Capital Markets downgraded shares of Block from an “outperform” rating to a “market perform” rating and upped their target price for the stock from $94.00 to $100.00 in a research note on Monday, November 25th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and twenty-seven have given a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $97.68.

Insider Buying and Selling

In other Block news, CAO Ajmere Dale sold 1,000 shares of the firm’s stock in a transaction that occurred on 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 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 transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, CFO Amrita Ahuja sold 1,502 shares of Block stock in a transaction that occurred on Thursday, January 2nd. The shares were sold at an average price of $86.52, for a total transaction of $129,953.04. Following the sale, the chief financial officer now owns 242,199 shares of the company’s stock, valued at approximately $20,955,057.48. The trade was a 0.62 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 29,981 shares of company stock worth $2,681,185 in the last 90 days. Insiders own 10.49% of the company’s stock.

Block Trading Up 0.7 %

NYSE:SQ opened at $87.00 on Friday. The company has a market capitalization of $53.92 billion, a P/E ratio of 48.88, a PEG ratio of 0.75 and a beta of 2.51. 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 fifty day simple moving average of $89.61 and a 200-day simple moving average of $74.75.

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.