Cwm LLC Increases Stock Position in Block, Inc. (NYSE:SQ)

Cwm LLC boosted its stake in Block, Inc. (NYSE:SQ) by 125.6% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 15,955 shares of the technology company’s stock after purchasing an additional 8,882 shares during the quarter. Cwm LLC’s holdings in Block were worth $1,234,000 as of its most recent SEC filing.

Other hedge funds have also bought and sold shares of the company. Valley National Advisers Inc. raised its position in shares of Block by 72.3% during the 4th quarter. Valley National Advisers Inc. now owns 610 shares of the technology company’s stock valued at $47,000 after buying an additional 256 shares in the last quarter. Washington Trust Advisors Inc. raised its position in shares of Block by 38.7% during the 4th quarter. Washington Trust Advisors Inc. now owns 616 shares of the technology company’s stock valued at $48,000 after buying an additional 172 shares in the last quarter. Hexagon Capital Partners LLC raised its position 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 valued at $28,000 after buying an additional 300 shares in the last quarter. Front Row Advisors LLC raised its position 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 valued at $30,000 after buying an additional 675 shares in the last quarter. Finally, Larson Financial Group LLC raised its position 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 valued at $32,000 after buying an additional 202 shares in the last quarter. Hedge funds and other institutional investors own 70.44% of the company’s stock.

Block Price Performance

Shares of SQ opened at $74.48 on Friday. The company has a market cap of $45.86 billion, a price-to-earnings ratio of 438.12, a price-to-earnings-growth ratio of 2.06 and a beta of 2.55. Block, Inc. has a twelve month low of $38.85 and a twelve month 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 company has a 50 day moving average of $77.39 and a two-hundred day moving average of $67.26.

Block (NYSE:SQ) last posted its quarterly earnings results on Thursday, February 22nd. The technology company reported $0.03 earnings per share (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 analysts’ expectations of $5.69 billion. Block had a net margin of 0.04% and a return on equity of 0.63%. As a group, analysts predict that Block, Inc. will post 1.11 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Block news, insider Brian Grassadonia sold 4,514 shares of the firm’s stock in a transaction on Wednesday, April 3rd. The shares were sold at an average price of $78.41, for a total value of $353,942.74. Following the completion of the transaction, the insider now owns 477,290 shares of the company’s stock, valued at $37,424,308.90. The transaction was disclosed in a filing with the SEC, which is available at this link. In other Block news, insider Brian Grassadonia sold 4,514 shares of the firm’s stock in a transaction on Wednesday, April 3rd. The shares were sold at an average price of $78.41, for a total value of $353,942.74. Following the completion of the transaction, the insider now owns 477,290 shares of the company’s stock, valued at $37,424,308.90. The transaction was disclosed in a 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 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 directly owns 201,754 shares of the company’s stock, valued at approximately $12,972,782.20. The disclosure for this sale can be found here. Over the last quarter, insiders sold 363,801 shares of company stock valued at $27,284,175. Insiders own 10.79% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have recently issued reports on the stock. Keefe, Bruyette & Woods upped their target price on shares of Block from $74.00 to $78.00 and gave the company a “market perform” rating in a research report on Friday, February 23rd. Royal Bank of Canada upped their target price on shares of Block from $77.00 to $88.00 and gave the company an “outperform” rating in a research report on Friday, February 23rd. Robert W. Baird increased their price objective on shares of Block from $95.00 to $98.00 and gave the stock an “outperform” rating in a research report on Friday, April 19th. Seaport Res Ptn raised shares of Block from a “neutral” rating to a “buy” rating in a research report on Friday, February 23rd. Finally, Citigroup increased their price objective on shares of Block from $76.00 to $86.00 and gave the stock a “buy” rating in a research report on Monday, February 26th. One research analyst has rated the stock with a sell rating, six have issued a hold rating and twenty-eight have assigned a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $85.67.

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.