Block, Inc. (NYSE:SQ) Shares Sold by Acorn Financial Advisory Services Inc. ADV

Acorn Financial Advisory Services Inc. ADV trimmed its stake in shares of Block, Inc. (NYSE:SQFree Report) by 38.2% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 12,285 shares of the technology company’s stock after selling 7,592 shares during the quarter. Acorn Financial Advisory Services Inc. ADV’s holdings in Block were worth $950,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds also recently added to or reduced their stakes in the company. Vanguard Group Inc. lifted its holdings in shares of Block by 1.7% in the 3rd quarter. Vanguard Group Inc. now owns 34,915,658 shares of the technology company’s stock valued at $1,545,367,000 after buying an additional 585,801 shares during the period. ARK Investment Management LLC increased its stake in Block by 1.5% in the 3rd quarter. ARK Investment Management LLC now owns 10,887,114 shares of the technology company’s stock valued at $481,864,000 after purchasing an additional 160,179 shares in the last quarter. Geode Capital Management LLC increased its stake in Block by 30.4% in the 2nd quarter. Geode Capital Management LLC now owns 7,411,331 shares of the technology company’s stock valued at $492,513,000 after purchasing an additional 1,725,656 shares in the last quarter. Norges Bank purchased a new position in Block during the fourth quarter worth $353,954,000. Finally, Dragoneer Investment Group LLC increased its position in Block by 50.5% during the second 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 in the last quarter. 70.44% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on SQ. Canaccord Genuity Group raised their price target on Block from $80.00 to $95.00 and gave the stock a “buy” rating in a research report on Monday, February 26th. BTIG Research raised Block from a “neutral” rating to a “buy” rating and set a $85.00 price objective for the company in a research report on Tuesday, January 30th. Mizuho lifted their price objective on Block from $90.00 to $99.00 and gave the company a “buy” rating in a research report on Tuesday, December 12th. Wedbush reaffirmed an “outperform” rating and issued a $90.00 price objective on shares of Block in a research report on Tuesday, February 20th. Finally, Monness Crespi & Hardt lifted their price objective on Block from $85.00 to $100.00 and gave the company a “buy” rating in a research report on Friday, February 23rd. Seven investment analysts have rated the stock with a hold rating and twenty-six have given a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $82.59.

Check Out Our Latest Stock Report on SQ

Block Stock Up 1.5 %

NYSE:SQ opened at $83.82 on Wednesday. The firm has a market capitalization of $51.61 billion, a PE ratio of 486.00, a price-to-earnings-growth ratio of 2.29 and a beta of 2.55. The stock has a 50 day moving average of $72.18 and a 200-day moving average of $62.34. Block, Inc. has a 52 week low of $38.85 and a 52 week high of $87.52. 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:SQGet Free Report) last posted its earnings results on Thursday, February 22nd. The technology company reported $0.03 EPS for the quarter, beating the consensus estimate of $0.02 by $0.01. The company had revenue of $5.77 billion during 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 predict that Block, Inc. will post 1.09 EPS for the current year.

Insider Transactions at Block

In other news, CAO Ajmere Dale sold 1,525 shares of the business’s stock in a transaction that occurred 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 $5,163,679.28. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In other news, CAO Ajmere Dale sold 1,525 shares of the business’s stock in a transaction that occurred 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 $5,163,679.28. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CFO Amrita Ahuja sold 3,097 shares of the business’s stock in a transaction that occurred on Tuesday, January 2nd. The stock was sold at an average price of $73.77, for a total value of $228,465.69. Following the transaction, the chief financial officer now owns 209,200 shares of the company’s stock, valued at $15,432,684. The disclosure for this sale can be found here. Over the last three months, insiders sold 258,056 shares of company stock worth $18,407,064. Company insiders own 10.79% of the company’s stock.

Block Company 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.

Further Reading

Institutional Ownership by Quarter for Block (NYSE:SQ)

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