Rep. Josh Gottheimer Purchases Shares of Block, Inc. (NYSE:SQ)

Representative Josh Gottheimer (D-New Jersey) recently bought shares of Block, Inc. (NYSE:SQ). In a filing disclosed on January 14th, the Representative disclosed that they had bought between $1,001 and $15,000 in Block stock on December 30th. The trade occurred in the Representative’s “MORGAN STANLEY – SELECT UMA ACCOUNT # 1” account.

Representative Josh Gottheimer also recently made the following trade(s):

• Purchased $1,001 – $15,000 in shares of The Goldman Sachs Group (NYSE:GS) on 12/30/2024.
• Sold $1,001 – $15,000 in shares of Ambev (NYSE:ABEV) on 12/27/2024.
• Sold $1,001 – $15,000 in shares of Grupo Financiero Banorte (OTCMKTS:GBOOY) on 12/27/2024.
• Sold $1,001 – $15,000 in shares of Cadre (NYSE:CDRE) on 12/27/2024.
• Sold $1,001 – $15,000 in shares of Coloplast A/S (OTCMKTS:CLPBY) on 12/27/2024.
• Sold $1,001 – $15,000 in shares of Intuitive Surgical (NASDAQ:ISRG) on 12/23/2024.
• Sold $1,001 – $15,000 in shares of Trane Technologies (NYSE:TT) on 12/23/2024.
• Purchased $1,001 – $15,000 in shares of Walmart (NYSE:WMT) on 12/20/2024.
• Sold $1,001 – $15,000 in shares of NVIDIA (NASDAQ:NVDA) on 12/19/2024.
• Purchased $1,001 – $15,000 in shares of Walmart (NYSE:WMT) on 12/19/2024.

Block Price Performance

Shares of NYSE:SQ opened at $86.38 on Friday. The firm has a market cap of $53.25 billion, a price-to-earnings ratio of 48.53, a P/E/G ratio of 0.75 and a beta of 2.51. Block, Inc. has a 1 year low of $55.00 and a 1 year high of $99.26. The company has a current ratio of 2.07, a quick ratio of 2.07 and a debt-to-equity ratio of 0.26. The business has a fifty day simple moving average of $89.14 and a 200 day simple moving average of $74.43.

Institutional Investors Weigh In On Block

Several hedge funds have recently made changes to their positions in SQ. SouthState Corp raised its holdings in Block by 85.3% in the 3rd quarter. SouthState Corp now owns 391 shares of the technology company’s stock valued at $26,000 after acquiring an additional 180 shares in the last quarter. True Wealth Design LLC increased its position in shares of Block by 64.7% during the third quarter. True Wealth Design LLC now owns 494 shares of the technology company’s stock valued at $33,000 after purchasing an additional 194 shares during the period. Versant Capital Management Inc raised its stake in shares of Block by 67.7% in the fourth quarter. Versant Capital Management Inc now owns 394 shares of the technology company’s stock valued at $33,000 after purchasing an additional 159 shares in the last quarter. MassMutual Private Wealth & Trust FSB lifted its position in Block by 48.2% in the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 418 shares of the technology company’s stock worth $36,000 after purchasing an additional 136 shares during the period. Finally, V Square Quantitative Management LLC bought a new stake in Block in the 3rd quarter valued at $46,000. Institutional investors own 70.44% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have weighed in on SQ. Canaccord Genuity Group upped their target price on Block from $95.00 to $120.00 and gave the stock a “buy” rating in a research report on Tuesday, November 12th. Oppenheimer upgraded Block from a “market perform” rating to an “outperform” rating and set a $115.00 price objective on the stock in a report on Thursday, December 19th. Royal Bank of Canada reiterated an “outperform” rating and issued a $88.00 target price on shares of Block in a research note on Monday, October 21st. Raymond James upgraded shares of Block from a “market perform” rating to an “outperform” rating and set a $115.00 price target on the stock in a research note on Friday, January 3rd. Finally, Barclays lifted their price objective on shares of Block from $100.00 to $112.00 and gave the company an “overweight” rating in a research note on Tuesday, December 17th. One equities 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. Based on data from MarketBeat, Block has an average rating of “Moderate Buy” and a consensus target price of $97.68.

Insider Activity

In other Block news, insider Owen Britton Jennings sold 2,836 shares of Block stock in a transaction on Thursday, January 2nd. The stock was sold at an average price of $89.38, for a total transaction of $253,481.68. Following the completion of the transaction, the insider now directly owns 195,449 shares of the company’s stock, valued at approximately $17,469,231.62. This trade represents a 1.43 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CAO Ajmere Dale sold 1,000 shares of the business’s stock in a transaction 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 sale, the chief accounting officer now owns 88,791 shares in the company, valued at $7,103,280. This represents a 1.11 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 29,981 shares of company stock worth $2,681,185. 10.49% of the stock is currently owned by corporate insiders.

About Representative Gottheimer

Josh Gottheimer (Democratic Party) is a member of the U.S. House, representing New Jersey’s 5th Congressional District. He assumed office on January 3, 2017. His current term ends on January 3, 2025. Gottheimer (Democratic Party) is running for re-election to the U.S. House to represent New Jersey’s 5th Congressional District. He declared candidacy for the 2024 election. Gottheimer was first elected to the House in 2016. Prior to his election, Gottheimer worked for Microsoft, the Federal Communications Commission, and for the administration of President Bill Clinton (D). Click here for more information about Gottheimer’s career. Gottheimer serves on the House Financial Services Committee, where is a member of three subcommittees. For more on Gottheimer’s committee assignments, click here. Gottheimer became a co-chair of the Problem Solvers Caucus in February 2017. Gottheimer attended the University of Pennsylvania for his undergraduate degree. He became a Thouron Fellow at Oxford and attended Harvard Law School. Gottheimer worked as a speech writer under former President Bill Clinton (D), assisting with two State of the Union addresses, among other projects. Before running for Congress, he worked for Microsoft as a general manager for corporate strategy.

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.