Block, Inc. (NYSE:SQ) Shares Bought by Signaturefd LLC

Signaturefd LLC grew its position in shares of Block, Inc. (NYSE:SQ) by 39.3% in the 4th quarter, HoldingsChannel.com reports. The fund owned 7,750 shares of the technology company’s stock after purchasing an additional 2,185 shares during the quarter. Signaturefd LLC’s holdings in Block were worth $599,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently modified their holdings of SQ. Powell Investment Advisors LLC bought a new stake in shares of Block during the fourth quarter valued at about $240,000. Lindbrook Capital LLC raised its stake in shares of Block by 51.0% during the fourth quarter. Lindbrook Capital LLC now owns 2,294 shares of the technology company’s stock valued at $177,000 after purchasing an additional 775 shares in the last quarter. abrdn plc raised its stake in shares of Block by 101.3% during the fourth quarter. abrdn plc now owns 187,858 shares of the technology company’s stock valued at $14,531,000 after purchasing an additional 94,537 shares in the last quarter. WP Advisors LLC raised its stake in shares of Block by 3.9% during the fourth quarter. WP Advisors LLC now owns 5,381 shares of the technology company’s stock valued at $416,000 after purchasing an additional 200 shares in the last quarter. Finally, Greenleaf Trust bought a new stake in shares of Block during the fourth quarter valued at about $314,000. Institutional investors and hedge funds own 70.44% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on SQ shares. Morgan Stanley reiterated an “underweight” rating and issued a $60.00 price target (down from $62.00) on shares of Block in a research report on Thursday, April 4th. Robert W. Baird boosted their price target on shares of Block from $95.00 to $98.00 and gave the stock an “outperform” rating in a research report on Friday, April 19th. Evercore ISI reiterated an “in-line” rating and issued a $75.00 price target on shares of Block in a research report on Tuesday, March 26th. BTIG Research upgraded shares of Block from a “neutral” rating to a “buy” rating and set a $85.00 price target on the stock in a research report on Tuesday, January 30th. Finally, Wells Fargo & Company upgraded shares of Block from an “equal weight” rating to an “overweight” rating and set a $95.00 price target on the stock in a research report on Friday, February 23rd. One research 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, Block has an average rating of “Moderate Buy” and an average price target of $85.67.

Block Trading Up 5.0 %

Shares of NYSE SQ opened at $75.21 on Wednesday. The stock has a market cap of $46.31 billion, a price-to-earnings ratio of 421.18, a PEG ratio of 2.12 and a beta of 2.55. The business has a 50 day simple moving average of $77.01 and a 200 day simple moving average of $66.81. Block, Inc. has a 52 week low of $38.85 and a 52 week high of $87.52. The company has a debt-to-equity ratio of 0.22, a quick ratio of 1.90 and a current ratio of 1.90.

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

Insiders Place Their Bets

In other Block news, insider Brian Grassadonia sold 127,800 shares of the company’s stock in a transaction that occurred on Tuesday, February 20th. The stock was sold at an average price of $65.45, for a total transaction of $8,364,510.00. Following the completion of the sale, the insider now owns 405,224 shares of the company’s stock, valued at $26,521,910.80. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Block news, insider Brian Grassadonia sold 127,800 shares of the company’s stock in a transaction that occurred on Tuesday, February 20th. The stock was sold at an average price of $65.45, for a total transaction of $8,364,510.00. Following the completion of the sale, the insider now owns 405,224 shares of the company’s stock, valued at $26,521,910.80. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Amrita Ahuja sold 4,170 shares of the company’s stock in a transaction that occurred on Tuesday, April 2nd. The stock was sold at an average price of $78.84, for a total value of $328,762.80. Following the sale, the chief financial officer now directly owns 193,192 shares of the company’s stock, valued at approximately $15,231,257.28. The disclosure for this sale can be found here. Insiders sold 363,801 shares of company stock valued at $27,284,175 over the last 90 days. 10.79% of the stock is currently owned by company insiders.

Block Company 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.