Block, Inc. (NYSE:SQ) Shares Purchased by Geneos Wealth Management Inc.

Geneos Wealth Management Inc. lifted its holdings in Block, Inc. (NYSE:SQ – Free Report) by 16.5% during the first quarter, Holdings Channel reports. The fund owned 5,470 shares of the technology company’s stock after buying an additional 773 shares during the quarter. Geneos Wealth Management Inc.’s holdings in Block were worth $376,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently made changes to their positions in SQ. Decatur Capital Management Inc. increased its stake in shares of Block by 11.1% in the first quarter. Decatur Capital Management Inc. now owns 3,783 shares of the technology company’s stock worth $513,000 after acquiring an additional 378 shares during the period. Eudaimonia Partners LLC acquired a new stake in shares of Block in the first quarter worth $387,000. NewEdge Advisors LLC acquired a new stake in Block during the second quarter valued at $228,000. Prudential Financial Inc. grew its position in Block by 31.3% during the second quarter. Prudential Financial Inc. now owns 25,320 shares of the technology company’s stock valued at $1,616,000 after buying an additional 6,038 shares during the period. Finally, Kingsview Wealth Management LLC acquired a new stake in Block during the second quarter valued at $516,000. Institutional investors and hedge funds own 63.97% of the company’s stock.

Block Price Performance

Shares of SQ stock opened at $76.20 on Friday. The company has a debt-to-equity ratio of 0.24, a current ratio of 1.83 and a quick ratio of 1.83. The firm’s 50-day moving average is $63.23 and its two-hundred day moving average is $68.36. Block, Inc. has a 12 month low of $51.34 and a 12 month high of $93.19. The company has a market capitalization of $46.09 billion, a PE ratio of -127.00 and a beta of 2.32.

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Block (NYSE:SQ – Get Free Report) last issued its earnings results on Thursday, May 4th. The technology company reported $0.06 EPS for the quarter, topping analysts’ consensus estimates of ($0.11) by $0.17. Block had a negative net margin of 1.92% and a negative return on equity of 1.22%. The company had revenue of $4.99 billion for the quarter, compared to the consensus estimate of $4.58 billion. Analysts predict that Block, Inc. will post -0.08 earnings per share for the current year.

Analysts Set New Price Targets

SQ has been the topic of several analyst reports. Wolfe Research dropped their price target on shares of Block from $90.00 to $85.00 in a research report on Monday, June 5th. KeyCorp dropped their price target on shares of Block from $100.00 to $85.00 in a research report on Monday, May 1st. Wells Fargo & Company dropped their price target on shares of Block from $108.00 to $105.00 in a research report on Friday, May 5th. Morgan Stanley dropped their price target on shares of Block from $72.00 to $70.00 and set an “equal weight” rating on the stock in a research report on Tuesday, March 28th. Finally, CLSA downgraded shares of Block from a “buy” rating to an “underperform” rating and decreased their price objective for the company from $93.00 to $63.00 in a report on Thursday, May 11th. Three investment analysts have rated the stock with a sell rating, seven have issued a hold rating and twenty-one have assigned a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $93.48.

Insider Buying and Selling at Block

In other Block news, CAO Ajmere Dale sold 629 shares of Block stock in a transaction dated Monday, May 22nd. The shares were sold at an average price of $59.61, for a total transaction of $37,494.69. Following the completion of the sale, the chief accounting officer now directly owns 74,458 shares in the company, valued at $4,438,441.38. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In related news, insider Alyssa Henry sold 30,769 shares of Block stock in a transaction that occurred on Wednesday, April 26th. The shares were sold at an average price of $61.27, for a total value of $1,885,216.63. Following the completion of the transaction, the insider now owns 488,278 shares in the company, valued at $29,916,793.06. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CAO Ajmere Dale sold 629 shares of Block stock in a transaction that occurred on Monday, May 22nd. The shares were sold at an average price of $59.61, for a total transaction of $37,494.69. Following the completion of the transaction, the chief accounting officer now owns 74,458 shares of the company’s stock, valued at approximately $4,438,441.38. The disclosure for this sale can be found here. Insiders sold a total of 124,006 shares of company stock worth $7,650,915 over the last three months. Insiders own 10.79% of the company’s stock.

Block Profile

(Free Report)

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.