Greenleaf Trust Acquires New Position in Block, Inc. (NYSE:SQ)

Greenleaf Trust acquired a new stake in shares of Block, Inc. (NYSE:SQ) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The fund acquired 4,060 shares of the technology company’s stock, valued at approximately $314,000.

A number of other hedge funds also recently made changes to their positions in the stock. Washington Trust Advisors Inc. grew its stake in shares of Block by 38.7% during the 4th quarter. Washington Trust Advisors Inc. now owns 616 shares of the technology company’s stock valued at $48,000 after acquiring an additional 172 shares during the period. Dynamic Advisor Solutions LLC boosted its stake in Block by 2.9% in the 4th quarter. Dynamic Advisor Solutions LLC now owns 6,328 shares of the technology company’s stock worth $489,000 after purchasing an additional 180 shares during the period. Larson Financial Group LLC boosted its stake in Block by 38.4% in the 3rd 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 period. Diversified Trust Co boosted its stake in Block by 0.4% in the 4th quarter. Diversified Trust Co now owns 57,232 shares of the technology company’s stock worth $4,427,000 after purchasing an additional 209 shares during the period. Finally, Oppenheimer & Co. Inc. boosted its stake in Block by 1.1% in the 3rd quarter. Oppenheimer & Co. Inc. now owns 18,753 shares of the technology company’s stock worth $830,000 after purchasing an additional 211 shares during the period. 70.44% of the stock is currently owned by institutional investors.

Insider Activity

In other news, insider Brian Grassadonia sold 127,800 shares of the firm’s stock in a transaction 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 transaction, the insider now owns 405,224 shares in the company, valued at $26,521,910.80. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In other news, CAO Ajmere Dale sold 656 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 $42,180.80. Following the transaction, the chief accounting officer now owns 68,823 shares in the company, valued at $4,425,318.90. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Brian Grassadonia sold 127,800 shares of Block stock in a transaction dated Tuesday, February 20th. The shares were 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 owns 405,224 shares in the company, valued at approximately $26,521,910.80. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 363,801 shares of company stock worth $27,284,175. Company insiders own 10.79% of the company’s stock.

Block Stock Up 5.0 %

NYSE:SQ opened at $75.21 on Wednesday. Block, Inc. has a twelve month low of $38.85 and a twelve month high of $87.52. The company has a market cap of $46.31 billion, a price-to-earnings ratio of 421.18, a price-to-earnings-growth ratio of 2.12 and a beta of 2.55. The stock has a fifty day simple moving average of $77.01 and a 200-day simple moving average of $66.81. 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 (NYSE:SQ) last released its earnings results on Thursday, February 22nd. The technology company reported $0.03 earnings per share for the quarter, topping the consensus estimate of $0.02 by $0.01. The business had revenue of $5.77 billion during the quarter, compared to the consensus estimate of $5.69 billion. Block had a return on equity of 0.63% and a net margin of 0.04%. Analysts anticipate that Block, Inc. will post 1.02 EPS for the current year.

Analyst Ratings Changes

Several research firms have weighed in on SQ. Evercore ISI restated an “in-line” rating and issued a $75.00 price target on shares of Block in a research note on Tuesday, March 26th. Monness Crespi & Hardt upped their price target on Block from $85.00 to $100.00 and gave the stock a “buy” rating in a research note on Friday, February 23rd. William Blair restated a “market perform” rating on shares of Block in a research note on Friday, February 23rd. Morgan Stanley reaffirmed an “underweight” rating and set a $60.00 price objective (down from $62.00) on shares of Block in a report on Thursday, April 4th. Finally, Royal Bank of Canada upped their price objective on Block from $77.00 to $88.00 and gave the stock an “outperform” rating in a 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 given a buy rating to the stock. Based on data from MarketBeat, Block currently has a consensus rating of “Moderate Buy” and a consensus price target of $85.67.

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.