AIA Group Ltd bought a new stake in Block, Inc. (NYSE:SQ – Get Rating) in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor bought 4,059 shares of the technology company's stock, valued at approximately $223,000.
Other institutional investors have also recently added to or reduced their stakes in the company. O Dell Group LLC increased its stake in Block by 9.9% during the second quarter. O Dell Group LLC now owns 1,448 shares of the technology company's stock worth $89,000 after acquiring an additional 130 shares during the last quarter. White Knight Strategic Wealth Advisors LLC grew its stake in shares of Block by 1.7% in the second quarter. White Knight Strategic Wealth Advisors LLC now owns 8,856 shares of the technology company's stock valued at $544,000 after buying an additional 150 shares in the last quarter. Meiji Yasuda Life Insurance Co grew its stake in shares of Block by 3.4% in the second quarter. Meiji Yasuda Life Insurance Co now owns 5,109 shares of the technology company's stock valued at $314,000 after buying an additional 170 shares in the last quarter. Coastal Investment Advisors Inc. grew its stake in shares of Block by 1.0% in the third quarter. Coastal Investment Advisors Inc. now owns 17,038 shares of the technology company's stock valued at $937,000 after buying an additional 174 shares in the last quarter. Finally, Lincoln National Corp grew its stake in shares of Block by 2.4% in the third quarter. Lincoln National Corp now owns 7,968 shares of the technology company's stock valued at $438,000 after buying an additional 186 shares in the last quarter. 59.49% of the stock is currently owned by institutional investors and hedge funds.
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Insider Activity at Block
In related news, insider Alyssa Henry sold 30,769 shares of the firm's stock in a transaction that occurred on Wednesday, January 18th. The stock was sold at an average price of $75.29, for a total value of $2,316,598.01. Following the sale, the insider now directly owns 418,667 shares in the company, valued at approximately $31,521,438.43. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other news, insider Alyssa Henry sold 30,769 shares of Block stock in a transaction on Wednesday, January 18th. The stock was sold at an average price of $75.29, for a total transaction of $2,316,598.01. Following the transaction, the insider now directly owns 418,667 shares in the company, valued at approximately $31,521,438.43. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CFO Amrita Ahuja sold 3,820 shares of Block stock in a transaction on Wednesday, November 2nd. The shares were sold at an average price of $58.86, for a total value of $224,845.20. Following the transaction, the chief financial officer now owns 144,010 shares in the company, valued at $8,476,428.60. The disclosure for this sale can be found here. Insiders have sold a total of 287,537 shares of company stock worth $18,528,646 in the last three months. 11.52% of the stock is owned by company insiders.
Wall Street Analysts Forecast Growth
A number of equities research analysts have recently issued reports on the company. Wells Fargo & Company lowered their target price on Block from $97.00 to $96.00 and set an "overweight" rating for the company in a research note on Monday, January 9th. Macquarie raised Block from a "neutral" rating to an "outperform" rating and set a $100.00 price target for the company in a report on Tuesday, November 8th. The Goldman Sachs Group reduced their price target on Block from $134.00 to $114.00 and set a "buy" rating for the company in a report on Friday, November 4th. Morgan Stanley reduced their price target on Block from $67.00 to $66.00 and set an "equal weight" rating for the company in a report on Thursday, December 8th. Finally, Oppenheimer downgraded Block from an "outperform" rating to a "market perform" rating in a report on Wednesday. Two analysts have rated the stock with a sell rating, six have issued a hold rating and thirty-one have given a buy rating to the company's stock. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $113.08.
Block Stock Up 0.5 %
SQ opened at $81.19 on Friday. Block, Inc. has a 12 month low of $51.34 and a 12 month high of $149.00. The company has a debt-to-equity ratio of 0.25, a current ratio of 1.86 and a quick ratio of 1.86. The stock has a market cap of $48.56 billion, a P/E ratio of -87.30, a P/E/G ratio of 60.73 and a beta of 2.35. The stock's 50 day moving average price is $66.88 and its 200 day moving average price is $67.02.
Block (NYSE:SQ – Get Rating) last posted its earnings results on Thursday, November 3rd. The technology company reported $0.01 EPS for the quarter, beating the consensus estimate of ($0.15) by $0.16. Block had a negative return on equity of 2.10% and a negative net margin of 2.97%. The firm had revenue of $4.52 billion for the quarter, compared to analysts' expectations of $4.48 billion. As a group, research analysts predict that Block, Inc. will post -0.67 earnings per share for the current year.
Block Company Profile
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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
- Get a free copy of the StockNews.com research report on Block (SQ)
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