Motley Fool Asset Management LLC Boosts Stock Position in Block, Inc. (NYSE:SQ)

Motley Fool Asset Management LLC grew its holdings in shares of Block, Inc. (NYSE:SQ) by 7.0% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 16,771 shares of the technology company’s stock after buying an additional 1,102 shares during the period. Motley Fool Asset Management LLC’s holdings in Block were worth $1,297,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also made changes to their positions in SQ. Hexagon Capital Partners LLC grew its position in shares of Block by 89.6% in the 3rd quarter. Hexagon Capital Partners LLC now owns 635 shares of the technology company’s stock valued at $28,000 after buying an additional 300 shares during the last quarter. Front Row Advisors LLC grew its holdings in shares of Block by 67,500.0% during the third quarter. Front Row Advisors LLC now owns 676 shares of the technology company’s stock worth $30,000 after purchasing an additional 675 shares during the last quarter. Larson Financial Group LLC grew its holdings in shares of Block by 38.4% during the third quarter. Larson Financial Group LLC now owns 728 shares of the technology company’s stock worth $32,000 after purchasing an additional 202 shares during the last quarter. Headinvest LLC acquired a new stake in shares of Block during the third quarter worth about $44,000. Finally, CNB Bank lifted its holdings in shares of Block by 40.2% in the 3rd quarter. CNB Bank now owns 1,046 shares of the technology company’s stock valued at $46,000 after purchasing an additional 300 shares during the last quarter. 70.44% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Block news, insider Brian Grassadonia sold 127,800 shares of the business’s stock in a transaction on Tuesday, February 20th. The stock was sold at an average price of $65.45, for a total value of $8,364,510.00. Following the completion of the transaction, the insider now directly owns 405,224 shares in the company, valued at approximately $26,521,910.80. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, insider Brian Grassadonia sold 127,800 shares of the company’s stock in a transaction dated 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 owns 405,224 shares of the company’s stock, valued at approximately $26,521,910.80. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CAO Ajmere Dale sold 656 shares of the business’s stock in a transaction that occurred on Wednesday, February 21st. The shares were sold at an average price of $64.30, for a total transaction of $42,180.80. Following the completion of the sale, the chief accounting officer now owns 68,823 shares of the company’s stock, valued at $4,425,318.90. The disclosure for this sale can be found here. Insiders have sold 363,801 shares of company stock valued at $27,284,175 in the last ninety days. Insiders own 10.79% of the company’s stock.

Block Price Performance

Shares of NYSE:SQ traded up $1.71 during midday trading on Friday, hitting $74.50. 4,648,118 shares of the stock were exchanged, compared to its average volume of 9,805,016. The company has a current ratio of 1.90, a quick ratio of 1.90 and a debt-to-equity ratio of 0.22. The stock has a market cap of $45.87 billion, a P/E ratio of 435.47, a PEG ratio of 2.23 and a beta of 2.55. The company has a 50 day moving average price of $77.39 and a 200-day moving average price of $67.11. Block, Inc. has a twelve month low of $38.85 and a twelve month high of $87.52.

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

Wall Street Analysts Forecast Growth

Several research analysts have commented on SQ shares. Monness Crespi & Hardt lifted their price target on Block from $85.00 to $100.00 and gave the stock a “buy” rating in a research report on Friday, February 23rd. Royal Bank of Canada raised their target price on shares of Block from $77.00 to $88.00 and gave the stock an “outperform” rating in a research report on Friday, February 23rd. Susquehanna reiterated a “positive” rating and issued a $100.00 price target on shares of Block in a research report on Monday. Citigroup raised their price objective 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, Truist Financial lifted their price objective on shares of Block from $90.00 to $100.00 and gave the company a “buy” rating in a research note on Friday, February 23rd. One analyst has rated the stock with a sell rating, six have assigned a hold rating and twenty-eight have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $85.67.

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.