Left Brain Wealth Management LLC Makes New $487,000 Investment in Block, Inc. (NYSE:SQ)

Left Brain Wealth Management LLC acquired a new stake in Block, Inc. (NYSE:SQFree Report) in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm acquired 6,301 shares of the technology company’s stock, valued at approximately $487,000.

Several other institutional investors also recently modified their holdings of SQ. Vanguard Group Inc. increased its holdings in shares of 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. Capital World Investors raised its holdings in Block by 1.7% in the 4th quarter. Capital World Investors now owns 12,513,788 shares of the technology company’s stock valued at $967,942,000 after acquiring an additional 212,218 shares during the period. ARK Investment Management LLC lifted its position in Block by 9.2% during the fourth 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 last quarter. Sumitomo Mitsui Trust Holdings Inc. lifted its position in Block by 0.7% during the fourth 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. Finally, Nikko Asset Management Americas Inc. boosted its holdings in shares of Block by 0.8% during the fourth quarter. Nikko Asset Management Americas Inc. now owns 8,982,862 shares of the technology company’s stock worth $694,735,000 after acquiring an additional 71,735 shares during the period. 70.44% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on the company. Needham & Company LLC lifted their target price on Block from $95.00 to $105.00 and gave the stock a “buy” rating in a report on Friday, May 3rd. Morgan Stanley reissued an “underweight” rating and issued a $60.00 price objective (down previously from $62.00) on shares of Block in a report on Thursday, April 4th. TD Cowen raised their target price on shares of Block from $90.00 to $92.00 and gave the stock a “buy” rating in a report on Friday, May 3rd. Benchmark reiterated a “buy” rating and issued a $99.00 price target on shares of Block in a research note on Friday, May 3rd. Finally, Susquehanna reissued a “positive” rating and set a $100.00 price target on shares of Block in a research report on Monday, April 22nd. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and twenty-seven have issued a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $87.59.

View Our Latest Stock Report on SQ

Block Trading Down 1.7 %

Shares of NYSE SQ traded down $1.09 during trading on Tuesday, reaching $63.25. The company had a trading volume of 2,614,634 shares, compared to its average volume of 9,521,774. Block, Inc. has a 12 month low of $38.85 and a 12 month high of $87.52. The company has a quick ratio of 1.64, a current ratio of 1.64 and a debt-to-equity ratio of 0.16. The stock has a market cap of $39.03 billion, a P/E ratio of 83.59, a PEG ratio of 1.52 and a beta of 2.54. The company’s fifty day moving average price is $71.38 and its 200-day moving average price is $71.82.

Block (NYSE:SQGet Free Report) last released its quarterly earnings results on Thursday, May 2nd. The technology company reported $0.47 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.15 by $0.32. Block had a net margin of 2.18% and a return on equity of 2.04%. The firm had revenue of $5.96 billion during the quarter, compared to analyst estimates of $5.75 billion. As a group, research analysts expect that Block, Inc. will post 1.28 earnings per share for the current year.

Insider Transactions at Block

In other Block news, insider Brian Grassadonia sold 111,666 shares of the stock in a transaction that occurred on Monday, April 1st. The stock was sold at an average price of $82.73, for a total transaction of $9,238,128.18. Following the transaction, the insider now directly owns 485,645 shares in the company, valued at approximately $40,177,410.85. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In other news, CAO Ajmere Dale sold 500 shares of the business’s stock in a transaction dated Monday, April 1st. The shares were sold at an average price of $84.75, for a total transaction of $42,375.00. Following the completion of the sale, the chief accounting officer now directly owns 68,323 shares of the company’s stock, valued at $5,790,374.25. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider Brian Grassadonia sold 111,666 shares of the firm’s stock in a transaction dated Monday, April 1st. The shares were sold at an average price of $82.73, for a total transaction of $9,238,128.18. Following the completion of the transaction, the insider now directly owns 485,645 shares in the company, valued at approximately $40,177,410.85. The disclosure for this sale can be found here. In the last ninety days, insiders sold 247,739 shares of company stock valued at $18,584,747. Corporate insiders own 10.49% of the company’s stock.

Block Company 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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