Allworth Financial LP Buys 1,584 Shares of Block, Inc. (NYSE:SQ)

Allworth Financial LP boosted its stake in shares of Block, Inc. (NYSE:SQ) by 114.1% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,972 shares of the technology company’s stock after purchasing an additional 1,584 shares during the quarter. Allworth Financial LP’s holdings in Block were worth $230,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors also recently added to or reduced their stakes in SQ. Capital Impact Advisors LLC boosted its stake in shares of Block by 2.6% in the fourth quarter. Capital Impact Advisors LLC now owns 5,401 shares of the technology company’s stock worth $339,000 after acquiring an additional 138 shares during the last quarter. Washington Trust Advisors Inc. boosted its stake in shares of Block by 38.7% in the fourth quarter. Washington Trust Advisors Inc. now owns 616 shares of the technology company’s stock worth $48,000 after acquiring an additional 172 shares during the last quarter. Dynamic Advisor Solutions LLC boosted its stake in shares of Block by 2.9% in the fourth quarter. Dynamic Advisor Solutions LLC now owns 6,328 shares of the technology company’s stock worth $489,000 after acquiring an additional 180 shares during the last quarter. Larson Financial Group LLC lifted its position in Block by 38.4% during the third quarter. Larson Financial Group LLC now owns 728 shares of the technology company’s stock worth $32,000 after buying an additional 202 shares in the last quarter. Finally, Advisor Partners II LLC lifted its position in Block by 5.3% during the first quarter. Advisor Partners II LLC now owns 4,085 shares of the technology company’s stock worth $280,000 after buying an additional 207 shares in the last quarter. Institutional investors own 70.44% of the company’s stock.

Insider Activity at Block

In related news, insider Brian Grassadonia sold 127,800 shares of the firm’s stock in a transaction that occurred on Tuesday, February 20th. The stock was sold at an average price of $65.45, for a total transaction of $8,364,510.00. Following the transaction, the insider now owns 405,224 shares in the company, valued at approximately $26,521,910.80. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In related news, CFO Amrita Ahuja sold 2,581 shares of the firm’s stock in a transaction that occurred on Wednesday, February 21st. The stock was sold at an average price of $64.30, for a total transaction of $165,958.30. Following the transaction, the chief financial officer now owns 201,754 shares in the company, valued at approximately $12,972,782.20. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Brian Grassadonia sold 127,800 shares of the firm’s stock in a transaction that occurred on Tuesday, February 20th. The stock was sold at an average price of $65.45, for a total value of $8,364,510.00. Following the transaction, the insider now owns 405,224 shares in the company, valued at approximately $26,521,910.80. The disclosure for this sale can be found here. Insiders sold a total of 363,801 shares of company stock valued at $27,284,175 in the last three months. 10.79% of the stock is currently owned by company insiders.

Block Trading Down 1.9 %

NYSE:SQ opened at $78.48 on Thursday. The stock has a 50-day simple moving average of $75.79 and a 200-day simple moving average of $64.73. The stock has a market cap of $48.32 billion, a P/E ratio of 439.59, a P/E/G ratio of 2.31 and a beta of 2.55. Block, Inc. has a 1 year low of $38.85 and a 1 year high of $87.52. The company has a debt-to-equity ratio of 0.22, a quick ratio of 1.90 and a current ratio of 1.90.

Block (NYSE:SQ) last released 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. The business had revenue of $5.77 billion during the quarter, compared to analysts’ expectations of $5.69 billion. Block had a return on equity of 0.63% and a net margin of 0.04%. As a group, analysts anticipate that Block, Inc. will post 1.03 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of brokerages recently commented on SQ. BTIG Research upgraded Block from a “neutral” rating to a “buy” rating and set a $85.00 price objective on the stock in a research report on Tuesday, January 30th. Canaccord Genuity Group lifted their target price on Block from $80.00 to $95.00 and gave the company a “buy” rating in a research report on Monday, February 26th. Mizuho lifted their target price on Block from $99.00 to $106.00 and gave the company a “buy” rating in a research report on Wednesday. Piper Sandler restated an “overweight” rating and issued a $88.00 target price (up previously from $86.00) on shares of Block in a research report on Friday, February 23rd. Finally, Citigroup boosted their price objective on Block from $76.00 to $86.00 and gave the company a “buy” rating in a report on Monday, February 26th. One analyst has rated the stock with a sell rating, six have assigned a hold rating and twenty-six have issued a buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $83.94.

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.