Block, Inc. (NYSE:SQ) Shares Bought by Global Retirement Partners LLC

Global Retirement Partners LLC raised its position in Block, Inc. (NYSE:SQFree Report) by 38.5% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 3,343 shares of the technology company’s stock after purchasing an additional 930 shares during the quarter. Global Retirement Partners LLC’s holdings in Block were worth $259,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors also recently made changes to their positions in the company. Norges Bank bought a new position in shares of Block in the fourth quarter valued at approximately $353,954,000. Lone Pine Capital LLC bought a new position in shares of Block in the third quarter valued at approximately $172,001,000. Holocene Advisors LP boosted its holdings in shares of Block by 104.0% in the second quarter. Holocene Advisors LP now owns 3,623,037 shares of the technology company’s stock valued at $241,186,000 after acquiring an additional 1,847,189 shares in the last quarter. Dragoneer Investment Group LLC boosted its holdings in shares of Block by 50.5% in the second quarter. Dragoneer Investment Group LLC now owns 4,685,391 shares of the technology company’s stock valued at $311,906,000 after acquiring an additional 1,572,356 shares in the last quarter. Finally, Qube Research & Technologies Ltd boosted its holdings in shares of Block by 72.8% in the third quarter. Qube Research & Technologies Ltd now owns 2,683,346 shares of the technology company’s stock valued at $118,765,000 after acquiring an additional 1,130,925 shares in the last quarter. Institutional investors and hedge funds own 70.44% of the company’s stock.

Block Stock Up 0.6 %

Block stock opened at $79.65 on Thursday. The company has a market capitalization of $49.04 billion, a P/E ratio of 479.18, a P/E/G ratio of 2.40 and a beta of 2.55. The firm’s fifty day simple moving average is $74.27 and its 200-day simple moving average is $63.57. 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 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, February 22nd. The technology company reported $0.03 earnings per share for the quarter, beating analysts’ consensus estimates of $0.02 by $0.01. The business had revenue of $5.77 billion for the quarter, compared to the consensus estimate of $5.69 billion. Block had a net margin of 0.04% and a return on equity of 0.63%. Sell-side analysts forecast that Block, Inc. will post 1.03 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on SQ shares. BTIG Research upgraded shares of Block from a “neutral” rating to a “buy” rating and set a $85.00 price objective for the company in a report on Tuesday, January 30th. William Blair restated a “market perform” rating on shares of Block in a report on Friday, February 23rd. Canaccord Genuity Group raised their target price on shares of Block from $80.00 to $95.00 and gave the stock a “buy” rating in a report on Monday, February 26th. Truist Financial raised their target price on shares of Block from $90.00 to $100.00 and gave the stock a “buy” rating in a report on Friday, February 23rd. Finally, KeyCorp raised their target price on shares of Block from $80.00 to $95.00 and gave the stock an “overweight” rating in a report on Wednesday, March 27th. Seven analysts have rated the stock with a hold rating and twenty-six have assigned a buy rating to the stock. Based on data from MarketBeat.com, Block presently has a consensus rating of “Moderate Buy” and an average target price of $83.69.

Get Our Latest Research Report on SQ

Insider Activity

In related news, insider Brian Grassadonia sold 4,514 shares of Block stock in a transaction on Wednesday, April 3rd. The shares were sold at an average price of $78.41, for a total value of $353,942.74. Following the transaction, the insider now owns 477,290 shares in the company, valued at approximately $37,424,308.90. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, CFO Amrita Ahuja sold 2,581 shares of Block stock in a transaction on Wednesday, February 21st. The shares were sold at an average price of $64.30, for a total value of $165,958.30. Following the transaction, the chief financial officer now owns 201,754 shares in the company, valued at approximately $12,972,782.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Brian Grassadonia sold 4,514 shares of Block stock in a transaction on Wednesday, April 3rd. The stock was sold at an average price of $78.41, for a total transaction of $353,942.74. Following the completion of the transaction, the insider now owns 477,290 shares in the company, valued at approximately $37,424,308.90. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 359,631 shares of company stock worth $26,955,412. 10.79% of the stock is owned by corporate insiders.

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.

Further Reading

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Institutional Ownership by Quarter for Block (NYSE:SQ)

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