Lee Johnson Capital Management LLC Invests $3.76 Million in Block, Inc. (NYSE:SQ)

Lee Johnson Capital Management LLC acquired a new stake in shares of Block, Inc. (NYSE:SQ) in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 44,209 shares of the technology company’s stock, valued at approximately $3,757,000. Block makes up about 2.0% of Lee Johnson Capital Management LLC’s investment portfolio, making the stock its 19th biggest position.

Other hedge funds have also made changes to their positions in the company. SouthState Corp increased its stake in Block by 85.3% during the third quarter. SouthState Corp now owns 391 shares of the technology company’s stock valued at $26,000 after purchasing an additional 180 shares during the last quarter. True Wealth Design LLC raised its stake in Block by 64.7% during the third quarter. True Wealth Design LLC now owns 494 shares of the technology company’s stock worth $33,000 after acquiring an additional 194 shares during the period. Versant Capital Management Inc lifted its holdings in Block by 67.7% in the fourth quarter. Versant Capital Management Inc now owns 394 shares of the technology company’s stock worth $33,000 after acquiring an additional 159 shares during the last quarter. V Square Quantitative Management LLC acquired a new position in Block in the third quarter valued at approximately $46,000. Finally, Future Financial Wealth Managment LLC bought a new position in shares of Block during the third quarter valued at approximately $57,000. Institutional investors and hedge funds own 70.44% of the company’s stock.

Insider Transactions at Block

In other Block news, insider Chrysty Esperanza sold 2,964 shares of the 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 sale, the insider now directly owns 88,607 shares of the company’s stock, valued at $7,088,560. This represents a 3.24 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CFO Amrita Ahuja sold 1,502 shares of the firm’s stock in a transaction on 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 owns 242,199 shares in the company, valued at $20,955,057.48. This represents a 0.62 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 29,981 shares of company stock worth $2,681,185. Company insiders own 10.49% of the company’s stock.

Analyst Ratings Changes

SQ has been the topic of a number of research reports. Barclays increased their price target on Block from $100.00 to $112.00 and gave the stock an “overweight” rating in a research report on Tuesday, December 17th. Raymond James raised Block from a “market perform” rating to an “outperform” rating and set a $115.00 target price on the stock in a research report on Friday, January 3rd. Needham & Company LLC raised their target price on Block from $80.00 to $90.00 and gave the company a “buy” rating in a research note on Friday, November 8th. William Blair restated an “outperform” rating on shares of Block in a research report on Friday, November 15th. Finally, Morgan Stanley increased their price objective 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 issued a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $97.68.

Block Stock Performance

Shares of SQ opened at $87.00 on Monday. The company has a market capitalization of $53.92 billion, a PE ratio of 48.88, a price-to-earnings-growth ratio of 0.75 and a beta of 2.51. The company has a debt-to-equity ratio of 0.26, a current ratio of 2.07 and a quick ratio of 2.07. Block, Inc. has a one year low of $55.00 and a one year high of $99.26. The company’s fifty day moving average price is $89.61 and its 200 day moving average price is $74.82.

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.