Fairman Group LLC Acquires Shares of 2,753 Block, Inc. (NYSE:SQ)

Fairman Group LLC bought a new position in shares of Block, Inc. (NYSE:SQFree Report) during the fourth quarter, according to its most recent filing with the SEC. The fund bought 2,753 shares of the technology company’s stock, valued at approximately $213,000.

A number of other hedge funds also recently made changes to their positions in SQ. Korea Investment CORP raised its stake in shares of Block by 222.9% during the 3rd quarter. Korea Investment CORP now owns 460,040 shares of the technology company’s stock worth $20,361,000 after purchasing an additional 317,577 shares during the period. QRG Capital Management Inc. purchased a new stake in Block in the 3rd quarter worth about $2,936,000. Pearl River Capital LLC increased its holdings in Block by 125.5% in the 3rd quarter. Pearl River Capital LLC now owns 52,223 shares of the technology company’s stock worth $2,311,000 after acquiring an additional 29,068 shares during the last quarter. Aigen Investment Management LP increased its holdings in Block by 135.1% in the 3rd quarter. Aigen Investment Management LP now owns 29,065 shares of the technology company’s stock worth $1,286,000 after acquiring an additional 16,703 shares during the last quarter. Finally, CenterBook Partners LP purchased a new stake in Block in the 3rd quarter worth about $359,000. 70.44% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on the company. Citigroup lifted their price objective on Block from $86.00 to $90.00 and gave the stock a “buy” rating in a report on Monday, May 6th. Wells Fargo & Company raised Block from an “equal weight” rating to an “overweight” rating and set a $95.00 target price for the company in a report on Friday, February 23rd. William Blair reiterated a “market perform” rating on shares of Block in a research report on Friday, February 23rd. Morgan Stanley reiterated an “underweight” rating and set a $60.00 price target (down previously from $62.00) on shares of Block in a research report on Thursday, April 4th. Finally, Susquehanna reiterated a “positive” rating and set a $100.00 price target on shares of Block in a research report on Monday, April 22nd. One analyst has rated the stock with a sell rating, seven have issued a hold rating and twenty-seven have given a buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $87.59.

View Our Latest Stock Report on SQ

Block Trading Down 0.8 %

NYSE SQ opened at $62.00 on Tuesday. 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 stock’s fifty day moving average price is $69.91 and its 200-day moving average price is $71.85. The stock has a market cap of $38.26 billion, a P/E ratio of 81.17, a P/E/G ratio of 1.45 and a beta of 2.54. Block, Inc. has a 12 month low of $38.85 and a 12 month high of $87.52.

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

Insiders Place Their Bets

In related news, CAO Ajmere Dale sold 500 shares of the stock in a transaction dated Monday, April 1st. The stock was 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 owns 68,323 shares in the company, valued at $5,790,374.25. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other Block 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 transaction 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 Securities & Exchange Commission, which is accessible through this link. Also, CAO Ajmere Dale sold 500 shares of the firm’s stock in a transaction that occurred on Monday, April 1st. The shares were sold at an average price of $84.75, for a total value of $42,375.00. Following the transaction, the chief accounting officer now owns 68,323 shares of the company’s stock, valued at approximately $5,790,374.25. The disclosure for this sale can be found here. Insiders sold a total of 247,739 shares of company stock worth $18,584,747 over the last quarter. 10.49% of the stock is currently owned by corporate insiders.

About Block

(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.

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Institutional Ownership by Quarter for Block (NYSE:SQ)

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