5 Stocks Insiders are Buying Now

In this article, we will take a look at the 5 stocks insiders are buying now. To see more such companies, go directly to 13 Stocks Insiders are Buying Now.

5. Block, Inc. (NYSE:SQ)

Insider Purchase Date: November 8

Block, Inc. (NYSE:SQ) ranks 5th in our list of the stocks insiders are buying now. Both Roelof, a director at Block, Inc. (NYSE:SQ), bought a whopping 23,433 shares of the company at $50.97 per share earlier this month. In another transaction, the director bought 15,262 shares of Block, Inc. (NYSE:SQ) at a per-share price of $50.99.

As of the end of the second quarter of 2023, 66 hedge funds tracked by Insider Monkey had stakes in Block, Inc. (NYSE:SQ). The biggest stakeholder of Block, Inc. (NYSE:SQ) as of the end of the September was Andreas Halvorsen’s Viking Global which had a $545 million stake in the company.

Here is what Baron FinTech Fund has to say about Block, Inc. (NYSE:SQ) in its Q3 2023 investor letter:

“Block, Inc. provides point-of-sale technology to small businesses and operates the Cash App ecosystem of financial services for individuals. Shares fell due to a confluence of factors, including slowing growth, a brief system outage, and the departure of a key executive who ran the Square business segment. Ongoing investor concerns over consumer spending and a recession did not help sentiment. Nevertheless, Block reported strong quarterly results with 27% gross profit growth and adjusted EBITDA more than doubling. We believe Block’s businesses are resilient, and greater management focus on cost discipline should drive further margin expansion. We continue to own the stock due to Block’s long runway for growth, durable competitive advantages, and track record of innovation.”