Block, Inc. (NYSE:SQ) Shares Sold by Wealthcare Advisory Partners LLC

Wealthcare Advisory Partners LLC lowered its position in shares of Block, Inc. (NYSE:SQ) by 10.2% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 10,479 shares of the technology company’s stock after selling 1,184 shares during the period. Wealthcare Advisory Partners LLC’s holdings in Block were worth $811,000 at the end of the most recent reporting period.

Several other institutional investors also recently added to or reduced their stakes in the company. Sheets Smith Wealth Management acquired a new position in shares of Block during the fourth quarter worth about $354,000. River Global Investors LLP increased its position in Block by 34.9% during the 4th quarter. River Global Investors LLP now owns 18,554 shares of the technology company’s stock worth $1,435,000 after purchasing an additional 4,803 shares during the period. Avidian Wealth Solutions LLC acquired a new position in Block during the 4th quarter worth approximately $343,000. TCG Advisory Services LLC purchased a new position in shares of Block during the 4th quarter worth approximately $1,106,000. Finally, Vestmark Advisory Solutions Inc. purchased a new stake in shares of Block in the fourth quarter valued at approximately $17,595,000. Institutional investors and hedge funds own 70.44% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have issued reports on SQ shares. Truist Financial increased their price objective on Block from $90.00 to $100.00 and gave the stock a “buy” rating in a research report on Friday, February 23rd. Citigroup raised their price objective on shares of Block from $86.00 to $90.00 and gave the company a “buy” rating in a research note on Monday. BTIG Research raised shares of Block from a “neutral” rating to a “buy” rating and set a $85.00 price objective on the stock in a report on Tuesday, January 30th. Benchmark reaffirmed a “buy” rating and issued a $99.00 target price on shares of Block in a report on Friday, May 3rd. Finally, TD Cowen boosted their price target on Block from $90.00 to $92.00 and gave the stock a “buy” rating in a research note on Friday, May 3rd. 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.com, Block currently has an average rating of “Moderate Buy” and a consensus target price of $87.55.

Block Stock Down 0.6 %

Shares of SQ opened at $71.14 on Thursday. Block, Inc. has a fifty-two week low of $38.85 and a fifty-two week high of $87.52. The company’s fifty day moving average is $77.49 and its two-hundred day moving average is $68.73. The firm has a market cap of $43.80 billion, a PE ratio of 92.39, a price-to-earnings-growth ratio of 1.66 and a beta of 2.57. The company has a quick ratio of 1.90, a current ratio of 1.90 and a debt-to-equity ratio of 0.22.

Block (NYSE:SQ) last issued 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. 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 2.07% and a net margin of 2.18%. Analysts forecast that Block, Inc. will post 1.29 earnings per share for the current year.

Insider Activity at Block

In other news, CAO Ajmere Dale sold 500 shares of the company’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 completion of 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 document filed with the Securities & Exchange Commission, which is available through this link. In other news, CFO Amrita Ahuja sold 2,581 shares of Block stock in a transaction dated Wednesday, February 21st. The stock was sold at an average price of $64.30, for a total transaction 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 sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, 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 completion of the transaction, the chief accounting officer now owns 68,323 shares in the company, valued at approximately $5,790,374.25. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 477,469 shares of company stock worth $34,963,585. 10.79% of the stock is currently owned by corporate insiders.

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.