Evercore Wealth Management LLC Takes $218,000 Position in Block, Inc. (NYSE:SQ)

Evercore Wealth Management LLC acquired a new stake in shares of Block, Inc. (NYSE:SQFree Report) during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 2,817 shares of the technology company’s stock, valued at approximately $218,000.

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

Insider Buying and Selling

In related news, CFO Amrita Ahuja sold 6,788 shares of the business’s stock in a transaction that occurred on Tuesday, May 21st. The stock was sold at an average price of $71.26, for a total transaction of $483,712.88. Following the completion of the sale, the chief financial officer now owns 282,886 shares in the company, valued at $20,158,456.36. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. In other Block news, CFO Amrita Ahuja sold 6,788 shares of the business’s stock in a transaction that occurred on Tuesday, May 21st. The stock was sold at an average price of $71.26, for a total value of $483,712.88. Following the completion of the sale, the chief financial officer now owns 282,886 shares in the company, valued at $20,158,456.36. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, CAO Ajmere Dale sold 500 shares of the company’s stock in a transaction that occurred 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 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 a total of 247,739 shares of company stock worth $18,584,747 over the last 90 days. 10.49% of the stock is owned by insiders.

Block Stock Performance

Shares of Block stock opened at $64.36 on Tuesday. Block, Inc. has a one year low of $38.85 and a one year high of $87.52. The company has a market cap of $39.71 billion, a PE ratio of 83.59, a P/E/G ratio of 1.52 and a beta of 2.54. The company has a debt-to-equity ratio of 0.16, a quick ratio of 1.64 and a current ratio of 1.64. The business has a 50-day simple moving average of $71.38 and a 200-day simple moving average of $71.82.

Block (NYSE:SQGet Free Report) last announced its quarterly earnings data on Thursday, May 2nd. The technology company reported $0.47 EPS for the quarter, topping analysts’ consensus estimates of $0.15 by $0.32. Block had a return on equity of 2.04% and a net margin of 2.18%. The business had revenue of $5.96 billion during the quarter, compared to the consensus estimate of $5.75 billion. On average, equities research analysts forecast that Block, Inc. will post 1.28 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on the company. Keefe, Bruyette & Woods upped their target price on Block from $74.00 to $78.00 and gave the company a “market perform” rating in a research report on Friday, February 23rd. Benchmark reiterated a “buy” rating and issued a $99.00 target price on shares of Block in a research report on Friday, May 3rd. Citigroup upped their price objective on Block from $86.00 to $90.00 and gave the stock a “buy” rating in a research report on Monday, May 6th. Susquehanna restated a “positive” rating and issued a $100.00 price objective on shares of Block in a research report on Monday, April 22nd. Finally, Seaport Res Ptn upgraded Block from a “neutral” rating to a “buy” rating in a research report on Friday, February 23rd. One investment 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’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $87.59.

Check Out Our Latest Report on SQ

Block 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.

See Also

Institutional Ownership by Quarter for Block (NYSE:SQ)

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