Block, Inc. (NYSE:SQ) Shares Bought by Mackenzie Financial Corp

Mackenzie Financial Corp grew its holdings in shares of Block, Inc. (NYSE:SQ) by 85.4% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 139,647 shares of the technology company’s stock after purchasing an additional 64,337 shares during the period. Mackenzie Financial Corp’s holdings in Block were worth $10,802,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in SQ. Hexagon Capital Partners LLC boosted its stake 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 in the last quarter. Front Row Advisors LLC boosted its stake 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 in the last quarter. Strategic Investment Solutions Inc. IL purchased a new stake in shares of Block during the 1st quarter worth approximately $31,000. Larson Financial Group LLC boosted its stake 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 in the last quarter. Finally, Headinvest LLC purchased a new stake in shares of Block during the 3rd quarter worth approximately $44,000. Institutional investors and hedge funds own 70.44% of the company’s stock.

Block Trading Down 2.3 %

SQ stock opened at $70.43 on Friday. The company has a market cap of $43.36 billion, a price-to-earnings ratio of 423.88, a PEG ratio of 2.13 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. The business has a fifty day simple moving average of $76.75 and a 200-day simple moving average of $66.04. Block, Inc. has a 52 week low of $38.85 and a 52 week high of $87.52.

Block (NYSE:SQ) last released its quarterly earnings data on Thursday, February 22nd. The technology company reported $0.03 EPS for the quarter, topping analysts’ consensus estimates of $0.02 by $0.01. The business had revenue of $5.77 billion during the quarter, compared to the consensus estimate of $5.69 billion. Block had a return on equity of 0.63% and a net margin of 0.04%. On average, equities research analysts expect that Block, Inc. will post 1.02 EPS for the current year.

Analyst Ratings Changes

Several equities research analysts have recently commented on the company. Wells Fargo & Company raised Block from an “equal weight” rating to an “overweight” rating and set a $95.00 price target on the stock in a research note on Friday, February 23rd. Evercore ISI reissued an “in-line” rating and set a $75.00 price target on shares of Block in a research note on Tuesday, March 26th. Morgan Stanley reissued an “underweight” rating and set a $60.00 price target (down previously from $62.00) on shares of Block in a research note on Thursday, April 4th. Mizuho upped their target price on Block from $99.00 to $106.00 and gave the company a “buy” rating in a research note on Wednesday, April 10th. Finally, Wedbush reaffirmed an “outperform” rating and issued a $90.00 target price on shares of Block in a research note on Tuesday, February 20th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and twenty-seven have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Block presently has a consensus rating of “Moderate Buy” and an average target price of $85.22.

Insider Activity at Block

In related news, CAO Ajmere Dale sold 656 shares of the stock in a transaction on Wednesday, February 21st. The stock was sold at an average price of $64.30, for a total value of $42,180.80. Following the completion of the sale, the chief accounting officer now directly owns 68,823 shares in the company, valued at approximately $4,425,318.90. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In related news, insider Brian Grassadonia sold 127,800 shares of the stock in a transaction 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 completion of the sale, the insider now directly owns 405,224 shares in the company, valued at approximately $26,521,910.80. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CAO Ajmere Dale sold 656 shares of the stock in a transaction on Wednesday, February 21st. The shares were sold at an average price of $64.30, for a total value of $42,180.80. Following the completion of the sale, the chief accounting officer now owns 68,823 shares of the company’s stock, valued at $4,425,318.90. The disclosure for this sale can be found here. In the last three months, insiders sold 363,801 shares of company stock worth $27,284,175. Corporate insiders own 10.79% of the company’s stock.

About Block

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.