Fisher Asset Management LLC Has $2.41 Million Position in Block, Inc. (NYSE:SQ)

Fisher Asset Management LLC trimmed its holdings in shares of Block, Inc. (NYSE:SQ) by 25.5% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 31,164 shares of the technology company’s stock after selling 10,644 shares during the period. Fisher Asset Management LLC’s holdings in Block were worth $2,411,000 at the end of the most recent quarter.

Several other hedge funds also recently modified their holdings of the stock. Valley National Advisers Inc. grew its position in shares of Block by 72.3% in the 4th quarter. Valley National Advisers Inc. now owns 610 shares of the technology company’s stock valued at $47,000 after acquiring an additional 256 shares during the period. Washington Trust Advisors Inc. raised its stake in Block by 38.7% in the fourth 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 during the period. Front Row Advisors LLC lifted its position in shares of Block by 67,500.0% in the third 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 during the last quarter. 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 during the period. Finally, Hexagon Capital Partners LLC increased its holdings in shares of Block by 26.8% during the 4th quarter. Hexagon Capital Partners LLC now owns 805 shares of the technology company’s stock worth $62,000 after acquiring an additional 170 shares during the last quarter. Institutional investors own 70.44% of the company’s stock.

Insider Transactions at Block

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 sale, the chief accounting officer now owns 68,323 shares of the company’s stock, valued at approximately $5,790,374.25. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, CFO Amrita Ahuja sold 2,581 shares of the business’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 in the company, valued at approximately $12,972,782.20. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CAO Ajmere Dale sold 500 shares of the stock in a transaction on 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 in the company, valued at approximately $5,790,374.25. The disclosure for this sale can be found here. Insiders sold 477,469 shares of company stock worth $34,963,585 over the last quarter. Corporate insiders own 10.79% of the company’s stock.

Wall Street Analyst Weigh In

SQ has been the subject of a number of research analyst reports. Wells Fargo & Company raised shares of Block from an “equal weight” rating to an “overweight” rating and set a $95.00 price objective for the company in a research report on Friday, February 23rd. Keefe, Bruyette & Woods increased 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. Wedbush restated an “outperform” rating and set a $90.00 price objective on shares of Block in a report on Friday, May 3rd. Morgan Stanley reiterated an “underweight” rating and set a $60.00 target price (down previously from $62.00) on shares of Block in a research note on Thursday, April 4th. Finally, Susquehanna reaffirmed a “positive” rating and issued a $100.00 price objective on shares of Block in a report on Monday, April 22nd. One research analyst has rated the stock with a sell rating, seven have given a hold rating and twenty-seven have assigned a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $87.55.

Block Trading Down 0.6 %

NYSE SQ opened at $71.14 on Thursday. The business has a fifty day simple moving average of $77.49 and a 200 day simple moving average of $68.73. The firm has a market capitalization of $43.80 billion, a P/E ratio of 92.39, a PEG ratio of 1.66 and a beta of 2.57. The company has a current ratio of 1.90, a quick ratio of 1.90 and a debt-to-equity ratio of 0.22. Block, Inc. has a 12 month low of $38.85 and a 12 month high of $87.52.

Block (NYSE:SQ) last posted its quarterly earnings results on Thursday, February 22nd. The technology company reported $0.03 earnings per share for the quarter, beating the consensus estimate of $0.02 by $0.01. Block had a net margin of 2.18% and a return on equity of 2.07%. The company had revenue of $5.77 billion during the quarter, compared to analyst estimates of $5.69 billion. On average, analysts predict that Block, Inc. will post 1.29 EPS for the current fiscal 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.