Lindbrook Capital LLC Buys 775 Shares of Block, Inc. (NYSE:SQ)

Lindbrook Capital LLC boosted its stake in Block, Inc. (NYSE:SQ) by 51.0% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 2,294 shares of the technology company’s stock after buying an additional 775 shares during the period. Lindbrook Capital LLC’s holdings in Block were worth $177,000 at the end of the most recent reporting period.

Other large investors have also bought and sold shares of the company. Clearbridge Investments LLC boosted its position in shares of Block by 10.4% during the third quarter. Clearbridge Investments LLC now owns 1,222,600 shares of the technology company’s stock valued at $54,112,000 after purchasing an additional 115,132 shares in the last quarter. Mn Services Vermogensbeheer B.V. grew its holdings in Block by 1.5% in the third quarter. Mn Services Vermogensbeheer B.V. now owns 261,300 shares of the technology company’s stock worth $11,565,000 after purchasing an additional 3,900 shares during the period. IFG Advisory LLC bought a new position in shares of Block during the fourth quarter valued at approximately $213,000. Canada Pension Plan Investment Board boosted its position in shares of Block by 16.1% in 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 purchasing an additional 190,400 shares in the last quarter. Finally, CenterBook Partners LP purchased a new stake in shares of Block in the 3rd quarter worth approximately $359,000. 70.44% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on SQ. Seaport Res Ptn raised Block from a “neutral” rating to a “buy” rating in a research report on Friday, February 23rd. Wedbush reaffirmed an “outperform” rating and issued a $90.00 price objective on shares of Block in a report on Tuesday, February 20th. William Blair reissued a “market perform” rating on shares of Block in a report on Friday, February 23rd. Canaccord Genuity Group upped their price target on shares of Block from $80.00 to $95.00 and gave the company a “buy” rating in a research report on Monday, February 26th. Finally, Mizuho raised their price objective on shares of Block from $99.00 to $106.00 and gave the stock a “buy” rating in a report on Wednesday, April 10th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and twenty-eight have issued a buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $85.67.

Block Stock Performance

Shares of NYSE:SQ opened at $71.61 on Tuesday. The firm has a fifty day simple moving average of $76.81 and a two-hundred day simple moving average of $66.58. Block, Inc. has a 52 week low of $38.85 and a 52 week high of $87.52. 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 stock has a market capitalization of $44.09 billion, a P/E ratio of 414.23, a PEG ratio of 2.08 and a beta of 2.55.

Block (NYSE:SQ) last released its quarterly earnings results on Thursday, February 22nd. The technology company reported $0.03 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 company had revenue of $5.77 billion during the quarter, compared to analyst estimates of $5.69 billion. On average, analysts expect that Block, Inc. will post 1.02 earnings per share for the current fiscal year.

Insider Activity

In other Block news, CAO Ajmere Dale sold 500 shares of the business’s stock in a transaction on Monday, April 1st. The shares were sold at an average price of $84.75, for a total transaction of $42,375.00. Following the transaction, the chief accounting officer now owns 68,323 shares in the company, valued at $5,790,374.25. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In other news, CAO Ajmere Dale sold 500 shares of the company’s stock in a transaction that occurred on Monday, April 1st. The stock was sold at an average price of $84.75, for a total transaction of $42,375.00. Following the transaction, the chief accounting officer now owns 68,323 shares of the company’s stock, valued at $5,790,374.25. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, 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 value of $165,958.30. Following the sale, the chief financial officer now directly owns 201,754 shares of the company’s stock, valued at $12,972,782.20. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 363,801 shares of company stock valued at $27,284,175. 10.79% of the stock is currently owned by insiders.

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.