Amalgamated Bank Sells 1,639 Shares of Block, Inc. (NYSE:SQ)

Amalgamated Bank lowered its stake in shares of Block, Inc. (NYSE:SQ) by 3.0% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 53,217 shares of the technology company’s stock after selling 1,639 shares during the quarter. Amalgamated Bank’s holdings in Block were worth $4,116,000 at the end of the most recent reporting period.

Several other large investors have also recently bought and sold shares of SQ. Front Row Advisors LLC lifted its position in Block by 67,500.0% in the third quarter. Front Row Advisors LLC now owns 676 shares of the technology company’s stock worth $30,000 after purchasing an additional 675 shares during the period. Larson Financial Group LLC boosted 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 acquiring an additional 202 shares in the last quarter. Headinvest LLC bought a new stake in Block in the third quarter valued at about $44,000. CNB Bank raised its position in Block by 40.2% in the third quarter. CNB Bank now owns 1,046 shares of the technology company’s stock worth $46,000 after purchasing an additional 300 shares in the last quarter. Finally, Valley National Advisers Inc. lifted its stake in Block by 72.3% during the fourth quarter. Valley National Advisers Inc. now owns 610 shares of the technology company’s stock worth $47,000 after purchasing an additional 256 shares during the period. 70.44% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Block

In other news, CAO Ajmere Dale sold 500 shares of the business’s stock in a transaction dated Monday, April 1st. The stock was sold at an average price of $84.75, for a total value of $42,375.00. Following the sale, the chief accounting officer now directly owns 68,323 shares in the company, valued at $5,790,374.25. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. In other 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 value of $42,375.00. Following the sale, the chief accounting officer now owns 68,323 shares of the company’s stock, valued at $5,790,374.25. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CFO Amrita Ahuja sold 2,581 shares of the firm’s stock in a transaction on Wednesday, February 21st. The shares were sold at an average price of $64.30, for a total transaction of $165,958.30. Following the completion of 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. Insiders sold 477,469 shares of company stock valued at $34,963,585 over the last quarter. Corporate insiders own 10.79% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on SQ. Monness Crespi & Hardt reissued a “neutral” rating on shares of Block in a report on Thursday, May 2nd. Morgan Stanley reissued an “underweight” rating and set a $60.00 price objective (down from $62.00) on shares of Block in a report on Thursday, April 4th. Mizuho upped their target price on shares of Block from $99.00 to $106.00 and gave the stock a “buy” rating in a report on Wednesday, April 10th. Keefe, Bruyette & Woods lifted their price target on shares of Block from $74.00 to $78.00 and gave the company a “market perform” rating in a report on Friday, February 23rd. Finally, Royal Bank of Canada boosted their price target 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. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and twenty-seven have issued a buy rating to the company. According to MarketBeat, Block presently has a consensus rating of “Moderate Buy” and an average target price of $87.55.

Block Stock Performance

SQ stock opened at $71.14 on Thursday. The business’s 50-day moving average price is $77.49 and its two-hundred day moving average price is $68.73. The company has a current ratio of 1.90, a quick ratio of 1.90 and a debt-to-equity ratio of 0.22. The firm has a market cap of $43.80 billion, a PE ratio of 92.39, a P/E/G ratio of 1.66 and a beta of 2.57. Block, Inc. has a 1-year low of $38.85 and a 1-year high of $87.52.

Block (NYSE:SQ) last posted its 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. Block had a return on equity of 2.07% and a net margin of 2.18%. The business had revenue of $5.77 billion during the quarter, compared to analysts’ expectations of $5.69 billion. As a group, research analysts forecast that Block, Inc. will post 1.29 earnings per share for the current year.

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.