Dimensional Fund Advisors LP Acquires 334,877 Shares of Block, Inc. (NYSE:SQ)

Dimensional Fund Advisors LP increased its holdings in shares of Block, Inc. (NYSE:SQFree Report) by 24.1% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 1,724,520 shares of the technology company’s stock after acquiring an additional 334,877 shares during the quarter. Dimensional Fund Advisors LP owned approximately 0.28% of Block worth $133,436,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of SQ. Vanguard Group Inc. lifted its stake in Block by 1.7% in the third quarter. Vanguard Group Inc. now owns 34,915,658 shares of the technology company’s stock valued at $1,545,367,000 after purchasing an additional 585,801 shares during the last quarter. ARK Investment Management LLC grew its stake in shares of Block by 9.2% during the 4th quarter. ARK Investment Management LLC now owns 11,887,628 shares of the technology company’s stock worth $919,508,000 after acquiring an additional 1,000,514 shares during the period. Sumitomo Mitsui Trust Holdings Inc. increased its holdings in Block by 0.7% in the 4th quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 10,377,973 shares of the technology company’s stock worth $802,736,000 after acquiring an additional 75,161 shares during the last quarter. Baillie Gifford & Co. raised its stake in Block by 3,525.7% in the 4th quarter. Baillie Gifford & Co. now owns 5,935,002 shares of the technology company’s stock valued at $459,072,000 after acquiring an additional 5,771,310 shares during the period. Finally, Bares Capital Management Inc. lifted its holdings in Block by 0.3% during the third quarter. Bares Capital Management Inc. now owns 4,399,425 shares of the technology company’s stock valued at $194,719,000 after purchasing an additional 11,376 shares during the last quarter. Institutional investors own 70.44% of the company’s stock.

Insider Buying and Selling

In other Block news, CAO Ajmere Dale sold 656 shares of the business’s stock in a transaction 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 transaction, the chief accounting officer now directly owns 68,823 shares of the company’s stock, valued at approximately $4,425,318.90. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other news, insider Brian Grassadonia sold 111,666 shares of the firm’s stock in a transaction that occurred on Monday, April 1st. The stock was sold at an average price of $82.73, for a total value of $9,238,128.18. Following the completion of the transaction, the insider now owns 485,645 shares in the company, valued at approximately $40,177,410.85. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CAO Ajmere Dale sold 656 shares of Block stock in a transaction that occurred on Wednesday, February 21st. The shares were sold at an average price of $64.30, for a total value of $42,180.80. Following the sale, the chief accounting officer now owns 68,823 shares in the company, valued at $4,425,318.90. The disclosure for this sale can be found here. Insiders sold 477,469 shares of company stock valued at $34,963,585 over the last quarter. 10.79% of the stock is owned by company insiders.

Analysts Set New Price Targets

SQ has been the topic of several research reports. Keefe, Bruyette & Woods boosted their price target on shares of Block from $74.00 to $78.00 and gave the company a “market perform” rating in a research report on Friday, February 23rd. BTIG Research raised Block from a “neutral” rating to a “buy” rating and set a $85.00 price target for the company in a report on Tuesday, January 30th. William Blair reiterated a “market perform” rating on shares of Block in a research note on Friday, February 23rd. Evercore ISI restated an “in-line” rating and issued a $75.00 target price on shares of Block in a research note on Tuesday, March 26th. Finally, Citigroup lifted their target price on Block from $86.00 to $90.00 and gave the company a “buy” rating in a report on Monday, May 6th. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and twenty-seven have given a buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $87.59.

Check Out Our Latest Research Report on SQ

Block Stock Performance

Shares of NYSE:SQ opened at $72.26 on Friday. The company has a current ratio of 1.64, a quick ratio of 1.64 and a debt-to-equity ratio of 0.16. The company has a 50-day moving average price of $76.49 and a 200-day moving average price of $70.21. The company has a market cap of $44.59 billion, a price-to-earnings ratio of 93.85, a price-to-earnings-growth ratio of 1.68 and a beta of 2.57. Block, Inc. has a 12 month low of $38.85 and a 12 month 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 EPS for the quarter, beating analysts’ consensus estimates of $0.02 by $0.01. The business had revenue of $5.77 billion during the quarter, compared to analyst estimates of $5.69 billion. Block had a return on equity of 2.04% and a net margin of 2.18%. As a group, equities analysts anticipate that Block, Inc. will post 1.29 EPS for the current year.

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

Institutional Ownership by Quarter for Block (NYSE:SQ)

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