Jackson Hole Capital Partners LLC Acquires Shares of 5,819 Block, Inc. (NYSE:SQ)

Jackson Hole Capital Partners LLC acquired a new stake in Block, Inc. (NYSE:SQ) during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 5,819 shares of the technology company’s stock, valued at approximately $450,000.

A number of other institutional investors also recently bought and sold shares of the business. Hexagon Capital Partners LLC boosted its holdings in shares of Block by 89.6% in the third quarter. Hexagon Capital Partners LLC now owns 635 shares of the technology company’s stock valued at $28,000 after acquiring an additional 300 shares in the last quarter. Front Row Advisors LLC boosted 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 valued at $30,000 after acquiring an additional 675 shares in the last quarter. Larson Financial Group LLC boosted its holdings in shares of Block by 38.4% in the third 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 purchased a new stake in shares of Block in the third quarter valued at about $44,000. Finally, CNB Bank boosted its holdings in shares of Block by 40.2% in the third quarter. CNB Bank now owns 1,046 shares of the technology company’s stock valued at $46,000 after acquiring an additional 300 shares in the last quarter. 70.44% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on SQ. KeyCorp lifted their target price on shares of Block from $80.00 to $95.00 and gave the company an “overweight” rating in a report on Wednesday, March 27th. Seaport Res Ptn upgraded shares of Block from a “neutral” rating to a “buy” rating in a research report on Friday, February 23rd. Evercore ISI restated an “in-line” rating and set a $75.00 target price on shares of Block in a research report on Tuesday, March 26th. Citigroup upped their target price on shares of Block from $76.00 to $86.00 and gave the stock a “buy” rating in a research report on Monday, February 26th. Finally, Mizuho upped their target price on shares of Block from $99.00 to $106.00 and gave the stock a “buy” rating in a research report on Wednesday, April 10th. One investment analyst has rated the stock with a sell rating, six have given a hold rating and twenty-eight have issued a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $85.67.

Block Trading Up 2.3 %

NYSE:SQ traded up $1.71 during trading hours on Friday, reaching $74.50. 4,648,118 shares of the company were exchanged, compared to its average volume of 9,805,016. Block, Inc. has a 52-week low of $38.85 and a 52-week high of $87.52. The stock has a 50 day simple moving average of $77.21 and a 200 day simple moving average of $66.90. The firm has a market cap of $45.87 billion, a price-to-earnings ratio of 435.47, a PEG ratio of 2.23 and a beta of 2.55. The company has a debt-to-equity ratio of 0.22, a current ratio of 1.90 and a quick ratio of 1.90.

Block (NYSE:SQ) last released its quarterly earnings data on Thursday, February 22nd. The technology company reported $0.03 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.02 by $0.01. The company had revenue of $5.77 billion during the quarter, compared to analyst estimates of $5.69 billion. Block had a net margin of 0.04% and a return on equity of 0.63%. As a group, analysts predict that Block, Inc. will post 1.02 EPS for the current year.

Insider Activity at Block

In other Block news, insider Brian Grassadonia sold 127,800 shares of the firm’s stock in a transaction on Tuesday, February 20th. The shares were sold at an average price of $65.45, for a total transaction of $8,364,510.00. Following the completion of the transaction, the insider now directly owns 405,224 shares of the company’s stock, valued at approximately $26,521,910.80. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In other Block news, insider Brian Grassadonia sold 127,800 shares of the firm’s stock in a transaction on Tuesday, February 20th. The shares were sold at an average price of $65.45, for a total transaction of $8,364,510.00. Following the completion of the transaction, the insider now directly owns 405,224 shares of the company’s stock, valued at approximately $26,521,910.80. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CFO Amrita Ahuja sold 2,581 shares of the firm’s stock in a transaction on Wednesday, February 21st. The stock was sold at an average price of $64.30, for a total transaction of $165,958.30. Following the transaction, the chief financial officer now directly owns 201,754 shares of the company’s stock, valued at $12,972,782.20. The disclosure for this sale can be found here. In the last three months, insiders sold 363,801 shares of company stock valued at $27,284,175. Corporate insiders own 10.79% of the company’s stock.

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.