Block, Inc. (NYSE:SQ) Shares Sold by Mutual Advisors LLC

Mutual Advisors LLC lowered its holdings in Block, Inc. (NYSE:SQ) by 2.9% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 7,164 shares of the technology company’s stock after selling 217 shares during the quarter. Mutual Advisors LLC’s holdings in Block were worth $554,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently bought and sold shares of SQ. Clearbridge Investments LLC raised its stake in shares of Block by 10.4% during the 3rd quarter. Clearbridge Investments LLC now owns 1,222,600 shares of the technology company’s stock worth $54,112,000 after buying an additional 115,132 shares during the last quarter. Mn Services Vermogensbeheer B.V. raised its stake in shares of Block by 1.5% during the 3rd quarter. Mn Services Vermogensbeheer B.V. now owns 261,300 shares of the technology company’s stock worth $11,565,000 after buying an additional 3,900 shares during the last quarter. Dragoneer Investment Group LLC raised its stake in shares of Block by 50.5% during the 2nd quarter. Dragoneer Investment Group LLC now owns 4,685,391 shares of the technology company’s stock worth $311,906,000 after buying an additional 1,572,356 shares during the last quarter. Canada Pension Plan Investment Board raised its stake in shares of Block by 16.1% during the 3rd quarter. Canada Pension Plan Investment Board now owns 1,373,857 shares of the technology company’s stock worth $60,807,000 after buying an additional 190,400 shares during the last quarter. Finally, CenterBook Partners LP acquired a new position in shares of Block during the 3rd quarter worth $359,000. Institutional investors and hedge funds own 70.44% of the company’s stock.

Insider Activity at Block

In related news, insider Brian Grassadonia sold 5,652 shares of the company’s stock in a transaction that occurred on Thursday, January 4th. The stock was sold at an average price of $68.00, for a total transaction of $384,336.00. Following the sale, the insider now directly owns 280,208 shares of the company’s stock, valued at approximately $19,054,144. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In related news, CAO Ajmere Dale sold 1,525 shares of the company’s stock in a transaction on Tuesday, January 2nd. The stock was sold at an average price of $74.32, for a total transaction of $113,338.00. Following the completion of the transaction, the chief accounting officer now directly owns 69,479 shares in the company, valued at approximately $5,163,679.28. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, insider Brian Grassadonia sold 5,652 shares of the company’s stock in a transaction on Thursday, January 4th. The stock was sold at an average price of $68.00, for a total value of $384,336.00. Following the transaction, the insider now owns 280,208 shares of the company’s stock, valued at $19,054,144. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 258,056 shares of company stock valued at $18,407,064. Corporate insiders own 10.79% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on SQ shares. KeyCorp lifted their price objective on Block from $80.00 to $95.00 and gave the stock an “overweight” rating in a research report on Wednesday. William Blair reiterated a “market perform” rating on shares of Block in a research report on Friday, February 23rd. Citigroup lifted their price objective on Block from $76.00 to $86.00 and gave the stock a “buy” rating in a research report on Monday, February 26th. Seaport Res Ptn upgraded Block from a “neutral” rating to a “buy” rating in a research report on Friday, February 23rd. Finally, Canaccord Genuity Group lifted their price objective on Block from $80.00 to $95.00 and gave the stock a “buy” rating in a research report on Monday, February 26th. Seven investment analysts have rated the stock with a hold rating and twenty-six have given a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $83.69.

Block Stock Performance

Shares of SQ opened at $83.18 on Thursday. The business’s 50 day moving average is $72.55 and its two-hundred day moving average is $62.56. Block, Inc. has a 52-week low of $38.85 and a 52-week high of $87.52. The firm has a market cap of $51.21 billion, a price-to-earnings ratio of 486.00, a PEG ratio of 2.29 and a beta of 2.55. The company has a quick ratio of 1.90, a current ratio of 1.90 and a debt-to-equity ratio of 0.22.

Block (NYSE:SQ) last posted its quarterly earnings results on Thursday, February 22nd. The technology company reported $0.03 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.02 by $0.01. The business had revenue of $5.77 billion for the quarter, compared to analyst estimates of $5.69 billion. Block had a return on equity of 0.63% and a net margin of 0.04%. Analysts forecast that Block, Inc. will post 1.09 EPS for the current fiscal year.

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.