Block, Inc. (NYSE:SQ) Shares Sold by Ninepoint Partners LP

Ninepoint Partners LP trimmed its holdings in Block, Inc. (NYSE:SQ) by 9.9% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 13,695 shares of the technology company’s stock after selling 1,500 shares during the period. Ninepoint Partners LP’s holdings in Block were worth $1,059,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also recently added to or reduced their stakes in SQ. Strategic Investment Solutions Inc. IL purchased a new position in Block in the 1st quarter valued at about $31,000. Valley National Advisers Inc. lifted its holdings in Block by 72.3% in the 4th quarter. Valley National Advisers Inc. now owns 610 shares of the technology company’s stock valued at $47,000 after purchasing an additional 256 shares in the last quarter. Washington Trust Advisors Inc. lifted its holdings in Block by 38.7% in the 4th quarter. Washington Trust Advisors Inc. now owns 616 shares of the technology company’s stock valued at $48,000 after purchasing an additional 172 shares in the last quarter. Hexagon Capital Partners LLC lifted its holdings in Block by 89.6% in the 3rd quarter. Hexagon Capital Partners LLC now owns 635 shares of the technology company’s stock valued at $28,000 after purchasing an additional 300 shares in the last quarter. Finally, Front Row Advisors LLC lifted its holdings in Block by 67,500.0% in the 3rd quarter. Front Row Advisors LLC now owns 676 shares of the technology company’s stock valued at $30,000 after purchasing an additional 675 shares in the last quarter. 70.44% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Block 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 value of $8,364,510.00. Following the sale, the insider now directly owns 405,224 shares in the company, valued at $26,521,910.80. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other Block news, CAO Ajmere Dale sold 500 shares of the firm’s stock in a transaction on Monday, April 1st. The stock was sold at an average price of $84.75, for a total value of $42,375.00. Following the sale, the chief accounting officer now directly 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 this link. Also, insider Brian Grassadonia sold 127,800 shares of the firm’s stock in a transaction on 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 sale, the insider now owns 405,224 shares in the company, valued at $26,521,910.80. The disclosure for this sale can be found here. Insiders sold a total of 363,801 shares of company stock valued at $27,284,175 over the last 90 days. 10.79% of the stock is owned by company insiders.

Block Stock Performance

Block stock traded down $1.15 during mid-day trading on Friday, reaching $70.91. The company’s stock had a trading volume of 2,774,679 shares, compared to its average volume of 9,973,880. The firm has a market cap of $43.66 billion, a price-to-earnings ratio of 432.41, a PEG ratio of 2.18 and a beta of 2.55. The business has a 50 day moving average price of $76.68 and a 200-day moving average price of $65.85. 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, Inc. has a twelve month low of $38.85 and a twelve month high of $87.52.

Block (NYSE:SQ) last released its quarterly earnings data on Thursday, February 22nd. The technology company reported $0.03 EPS for the quarter, topping analysts’ consensus estimates of $0.02 by $0.01. The firm had revenue of $5.77 billion during the quarter, compared to the consensus estimate of $5.69 billion. Block had a net margin of 0.04% and a return on equity of 0.63%. Sell-side analysts predict that Block, Inc. will post 1.02 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of research analysts have issued reports on SQ shares. Wolfe Research upped their target price on shares of Block from $95.00 to $100.00 and gave the company an “outperform” rating in a report on Thursday, April 11th. Seaport Res Ptn upgraded shares of Block from a “neutral” rating to a “buy” rating in a report on Friday, February 23rd. Benchmark increased their price objective on shares of Block from $89.00 to $99.00 and gave the stock a “buy” rating in a report on Thursday, April 4th. Royal Bank of Canada increased their price objective on shares of Block from $77.00 to $88.00 and gave the stock an “outperform” rating in a report on Friday, February 23rd. Finally, Truist Financial increased their price objective on shares of Block from $90.00 to $100.00 and gave the stock a “buy” rating in a report on Friday, February 23rd. One analyst has rated the stock with a sell rating, six have issued a hold rating and twenty-seven have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $85.22.

Block Profile

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.