Kingswood Wealth Advisors LLC Buys Shares of 5,231 Block, Inc. (NYSE:SQ)

Kingswood Wealth Advisors LLC bought a new stake in Block, Inc. (NYSE:SQ) during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor bought 5,231 shares of the technology company’s stock, valued at approximately $405,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Strategic Investment Solutions Inc. IL purchased a new position in shares of Block during the 1st quarter worth about $31,000. Industrial Alliance Investment Management Inc. purchased a new position in shares of Block during the 2nd quarter worth about $40,000. Hexagon Capital Partners LLC lifted its holdings in shares of Block by 89.6% during the 3rd quarter. Hexagon Capital Partners LLC now owns 635 shares of the technology company’s stock worth $28,000 after acquiring an additional 300 shares during the period. Front Row Advisors LLC lifted its holdings in shares of Block by 67,500.0% during the 3rd quarter. Front Row Advisors LLC now owns 676 shares of the technology company’s stock worth $30,000 after acquiring an additional 675 shares during the period. Finally, Larson Financial Group LLC lifted its holdings in shares of Block by 38.4% during the 3rd quarter. Larson Financial Group LLC now owns 728 shares of the technology company’s stock worth $32,000 after acquiring an additional 202 shares during the period. 70.44% of the stock is currently owned by hedge funds and other institutional investors.

Block Stock Down 0.7 %

SQ stock opened at $83.18 on Thursday. The firm has a 50 day simple moving average of $72.55 and a 200-day simple moving average of $62.56. Block, Inc. has a twelve month low of $38.85 and a twelve month high of $87.52. The company has a market capitalization of $51.21 billion, a P/E ratio of 492.94, a PEG ratio of 2.47 and a beta of 2.55. The company has a current ratio of 1.90, a quick ratio of 1.90 and a debt-to-equity ratio of 0.22.

Block (NYSE:SQ) last announced its quarterly earnings data on Thursday, February 22nd. The technology company reported $0.03 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.02 by $0.01. Block had a return on equity of 0.63% and a net margin of 0.04%. The firm had revenue of $5.77 billion for the quarter, compared to analysts’ expectations of $5.69 billion. On average, equities research analysts predict that Block, Inc. will post 1.03 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several research analysts have recently weighed in on SQ shares. Wells Fargo & Company upgraded shares of Block from an “equal weight” rating to an “overweight” rating and set a $95.00 price objective on the stock in a report on Friday, February 23rd. Truist Financial increased their target price on shares of Block from $90.00 to $100.00 and gave the stock a “buy” rating in a research report on Friday, February 23rd. Keefe, Bruyette & Woods increased their target price on shares of Block from $74.00 to $78.00 and gave the stock a “market perform” rating in a research report on Friday, February 23rd. Evercore ISI reissued an “in-line” rating and set a $75.00 target price on shares of Block in a research report on Tuesday. Finally, Royal Bank of Canada increased their target price on shares of Block from $77.00 to $88.00 and gave the stock an “outperform” rating in a research report on Friday, February 23rd. Seven analysts have rated the stock with a hold rating and twenty-six have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $83.69.

Insider Buying and Selling

In related news, CAO Ajmere Dale sold 1,525 shares of the firm’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 transaction, the chief accounting officer now directly owns 69,479 shares in the company, valued at $5,163,679.28. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other Block news, insider Brian Grassadonia sold 4,831 shares of the firm’s stock in a transaction on Tuesday, January 2nd. The stock was sold at an average price of $74.51, for a total value of $359,957.81. Following the sale, the insider now directly owns 285,860 shares in the company, valued at $21,299,428.60. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CAO Ajmere Dale sold 1,525 shares of the firm’s stock in a transaction on Tuesday, January 2nd. The shares were sold at an average price of $74.32, for a total value of $113,338.00. Following the completion of the sale, the chief accounting officer now owns 69,479 shares in the company, valued at $5,163,679.28. The disclosure for this sale can be found here. Insiders have sold 258,056 shares of company stock worth $18,407,064 over the last ninety days. 10.79% of the stock is owned by insiders.

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.