Park Avenue Securities LLC grew its position in Block, Inc. (NYSE:SQ – Get Rating) by 7.0% during the 4th quarter, Holdings Channel reports. The firm owned 15,084 shares of the technology company’s stock after purchasing an additional 989 shares during the quarter. Park Avenue Securities LLC’s holdings in Block were worth $948,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds also recently made changes to their positions in the company. Meiji Yasuda Life Insurance Co raised its holdings in shares of Block by 3.4% in the second quarter. Meiji Yasuda Life Insurance Co now owns 5,109 shares of the technology company’s stock valued at $314,000 after buying an additional 170 shares during the last quarter. Coastal Investment Advisors Inc. raised its holdings in shares of Block by 1.0% in the third quarter. Coastal Investment Advisors Inc. now owns 17,038 shares of the technology company’s stock valued at $937,000 after buying an additional 174 shares during the last quarter. White Knight Strategic Wealth Advisors LLC raised its holdings in shares of Block by 2.0% in the third quarter. White Knight Strategic Wealth Advisors LLC now owns 9,036 shares of the technology company’s stock valued at $497,000 after buying an additional 180 shares during the last quarter. Regal Investment Advisors LLC raised its holdings in shares of Block by 1.6% in the third quarter. Regal Investment Advisors LLC now owns 11,648 shares of the technology company’s stock valued at $641,000 after buying an additional 185 shares during the last quarter. Finally, Lincoln National Corp raised its holdings in shares of Block by 2.4% in the third quarter. Lincoln National Corp now owns 7,968 shares of the technology company’s stock valued at $438,000 after buying an additional 186 shares during the last quarter. Institutional investors and hedge funds own 59.49% of the company’s stock.
Insider Transactions at Block
In other news, CAO Ajmere Dale sold 887 shares of the company’s stock in a transaction that occurred on Monday, April 3rd. The stock was sold at an average price of $67.00, for a total transaction of $59,429.00. Following the sale, the chief accounting officer now owns 46,005 shares in the company, valued at approximately $3,082,335. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. In related news, CFO Amrita Ahuja sold 19,750 shares of the stock in a transaction on Thursday, February 2nd. The stock was sold at an average price of $88.05, for a total value of $1,738,987.50. Following the sale, the chief financial officer now owns 138,152 shares in the company, valued at approximately $12,164,283.60. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CAO Ajmere Dale sold 887 shares of the stock in a transaction on Monday, April 3rd. The shares were sold at an average price of $67.00, for a total value of $59,429.00. Following the completion of the sale, the chief accounting officer now owns 46,005 shares in the company, valued at approximately $3,082,335. The disclosure for this sale can be found here. Insiders have sold a total of 307,111 shares of company stock worth $23,074,313 in the last 90 days. Corporate insiders own 11.52% of the company’s stock.
Block Trading Up 0.7 %
NYSE:SQ opened at $68.10 on Friday. Block, Inc. has a twelve month low of $51.34 and a twelve month high of $132.80. The company has a quick ratio of 1.85, a current ratio of 1.85 and a debt-to-equity ratio of 0.24. The business has a 50 day moving average price of $75.01 and a two-hundred day moving average price of $67.44. The company has a market cap of $41.00 billion, a P/E ratio of -71.68 and a beta of 2.35.
Block (NYSE:SQ – Get Rating) last released its quarterly earnings results on Thursday, February 23rd. The technology company reported ($0.23) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.16) by ($0.07). Block had a negative return on equity of 2.28% and a negative net margin of 3.11%. The firm had revenue of $4.65 billion for the quarter, compared to analyst estimates of $4.53 billion. As a group, analysts expect that Block, Inc. will post -0.07 EPS for the current fiscal year.
Wall Street Analyst Weigh In
Several analysts have weighed in on SQ shares. UBS Group dropped their price objective on Block from $104.00 to $100.00 and set a “buy” rating for the company in a report on Thursday, December 15th. Credit Suisse Group boosted their price objective on Block from $95.00 to $105.00 and gave the stock an “outperform” rating in a report on Friday, February 24th. Wedbush raised Block from a “neutral” rating to an “outperform” rating and set a $114.00 price objective for the company in a report on Friday, March 24th. Truist Financial boosted their price objective on Block from $85.00 to $105.00 and gave the stock a “buy” rating in a report on Friday, January 20th. Finally, BMO Capital Markets dropped their price objective on Block from $108.00 to $101.00 and set an “outperform” rating for the company in a report on Monday, February 27th. Three investment analysts have rated the stock with a sell rating, five have issued a hold rating and twenty-two have assigned a buy rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $105.81.
Block 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.
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