Elo Mutual Pension Insurance Co Purchases 2,418 Shares of Block, Inc. (NYSE:SQ)

Elo Mutual Pension Insurance Co grew its position in shares of Block, Inc. (NYSE:SQFree Report) by 5.3% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 47,970 shares of the technology company’s stock after purchasing an additional 2,418 shares during the period. Elo Mutual Pension Insurance Co’s holdings in Block were worth $3,710,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in the company. Montag A & Associates Inc. increased its holdings in shares of Block by 843.2% in the fourth quarter. Montag A & Associates Inc. now owns 349 shares of the technology company’s stock worth $27,000 after buying an additional 312 shares during the period. Front Row Advisors LLC increased its holdings 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 worth $30,000 after buying an additional 675 shares during the period. Tidemark LLC purchased a new position in shares of Block in the fourth quarter worth about $32,000. Cape Investment Advisory Inc. increased its holdings in shares of Block by 419.0% in the fourth quarter. Cape Investment Advisory Inc. now owns 519 shares of the technology company’s stock worth $40,000 after buying an additional 419 shares during the period. Finally, Headinvest LLC purchased a new position in shares of Block in the third quarter worth about $44,000. Institutional investors own 70.44% of the company’s stock.

Block Price Performance

NYSE SQ opened at $64.36 on Tuesday. The business’s fifty day moving average price is $71.38 and its 200-day moving average price is $71.82. The stock has a market capitalization of $39.71 billion, a price-to-earnings ratio of 83.59, a PEG ratio of 1.52 and a beta of 2.54. The company has a debt-to-equity ratio of 0.16, a current ratio of 1.64 and a quick ratio of 1.64. Block, Inc. has a 1-year low of $38.85 and a 1-year high of $87.52.

Block (NYSE:SQGet Free Report) last released its quarterly earnings results on Thursday, May 2nd. The technology company reported $0.47 earnings per share for the quarter, beating the consensus estimate of $0.15 by $0.32. The firm had revenue of $5.96 billion for the quarter, compared to analysts’ expectations of $5.75 billion. Block had a return on equity of 2.04% and a net margin of 2.18%. On average, equities analysts predict that Block, Inc. will post 1.28 earnings per share for the current year.

Insider Transactions at Block

In other Block news, insider Brian Grassadonia sold 113,668 shares of the stock in a transaction on Wednesday, May 1st. The stock was sold at an average price of $67.56, for a total value of $7,679,410.08. Following the completion of the sale, the insider now owns 603,861 shares in the company, valued at approximately $40,796,849.16. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other Block news, insider Brian Grassadonia sold 113,668 shares of the stock in a transaction on Wednesday, May 1st. The stock was sold at an average price of $67.56, for a total value of $7,679,410.08. Following the completion of the sale, the insider now owns 603,861 shares in the company, valued at approximately $40,796,849.16. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 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 of the company’s stock, valued at approximately $5,790,374.25. The disclosure for this sale can be found here. Insiders sold 247,739 shares of company stock worth $18,584,747 in the last three months. Corporate insiders own 10.49% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on SQ shares. Wells Fargo & Company upgraded Block from an “equal weight” rating to an “overweight” rating and set a $95.00 price target on the stock in a report on Friday, February 23rd. Mizuho boosted their price target on Block from $99.00 to $106.00 and gave the company a “buy” rating in a report on Wednesday, April 10th. Morgan Stanley restated an “underweight” rating and set a $60.00 price target (down previously from $62.00) on shares of Block in a report on Thursday, April 4th. KeyCorp boosted their price target on Block from $80.00 to $95.00 and gave the company an “overweight” rating in a report on Wednesday, March 27th. Finally, Seaport Res Ptn upgraded Block from a “neutral” rating to a “buy” rating in a report on Friday, February 23rd. One research analyst has rated the stock with a sell rating, seven have given a hold rating and twenty-seven have given a buy rating to the company’s stock. According to data from MarketBeat, Block currently has an average rating of “Moderate Buy” and an average target price of $87.59.

Check Out Our Latest Research Report on SQ

Block Company Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Block (NYSE:SQ)

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