Kingswood Wealth Advisors LLC Makes New Investment in Block, Inc. (NYSE:SQ)

Kingswood Wealth Advisors LLC acquired a new stake in shares of Block, Inc. (NYSE:SQFree Report) during the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 5,231 shares of the technology company’s stock, valued at approximately $405,000.

Other institutional investors and hedge funds have also modified their holdings of the company. Clearbridge Investments LLC increased its position in shares of Block by 10.4% during the third quarter. Clearbridge Investments LLC now owns 1,222,600 shares of the technology company’s stock valued at $54,112,000 after purchasing an additional 115,132 shares during the period. Mn Services Vermogensbeheer B.V. increased its position in shares of Block by 1.5% during the third quarter. Mn Services Vermogensbeheer B.V. now owns 261,300 shares of the technology company’s stock valued at $11,565,000 after purchasing an additional 3,900 shares during the period. Dragoneer Investment Group LLC grew its position in Block by 50.5% in the second quarter. Dragoneer Investment Group LLC now owns 4,685,391 shares of the technology company’s stock valued at $311,906,000 after acquiring an additional 1,572,356 shares during the period. Canada Pension Plan Investment Board grew its position in Block by 16.1% in the third quarter. Canada Pension Plan Investment Board now owns 1,373,857 shares of the technology company’s stock valued at $60,807,000 after acquiring an additional 190,400 shares during the period. Finally, CenterBook Partners LP bought a new stake in Block in the third quarter valued at $359,000. 70.44% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other Block news, CAO Ajmere Dale sold 1,525 shares of the stock in a transaction dated Tuesday, January 2nd. The stock was sold at an average price of $74.32, for a total value of $113,338.00. Following the completion of the sale, the chief accounting officer now directly owns 69,479 shares in the company, valued at $5,163,679.28. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, CAO Ajmere Dale sold 1,525 shares of Block stock in a transaction that occurred on Tuesday, January 2nd. The stock was sold at an average price of $74.32, for a total value of $113,338.00. Following the sale, the chief accounting officer now owns 69,479 shares of the company’s stock, valued at approximately $5,163,679.28. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CFO Amrita Ahuja sold 3,097 shares of Block stock in a transaction that occurred on Tuesday, January 2nd. The shares were sold at an average price of $73.77, for a total value of $228,465.69. Following the completion of the sale, the chief financial officer now directly owns 209,200 shares in the company, valued at approximately $15,432,684. The disclosure for this sale can be found here. Insiders sold 258,056 shares of company stock worth $18,407,064 over the last ninety days. 10.79% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on SQ shares. Seaport Res Ptn upgraded Block from a “neutral” rating to a “buy” rating in a research report on Friday, February 23rd. Wedbush reiterated an “outperform” rating and issued a $90.00 price target on shares of Block in a research report on Tuesday, February 20th. Benchmark started coverage on Block in a research report on Tuesday, February 13th. They issued a “buy” rating and a $89.00 price target on the stock. Truist Financial upped their price target on Block from $90.00 to $100.00 and gave the company a “buy” rating in a research report on Friday, February 23rd. Finally, Royal Bank of Canada boosted their price objective on Block from $77.00 to $88.00 and gave the stock an “outperform” rating in a research note on Friday, February 23rd. Seven analysts have rated the stock with a hold rating and twenty-six have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $83.69.

View Our Latest Report on Block

Block Trading Down 0.7 %

NYSE SQ opened at $83.18 on Thursday. The stock has a 50-day simple moving average of $72.55 and a 200 day simple moving average of $62.56. The company has a market capitalization of $51.21 billion, a PE ratio of 492.94, a P/E/G ratio of 2.47 and a beta of 2.55. 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 12 month low of $38.85 and a 12 month high of $87.52.

Block (NYSE:SQGet Free Report) last announced its quarterly earnings results on Thursday, February 22nd. The technology company reported $0.03 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.02 by $0.01. Block had a return on equity of 0.63% and a net margin of 0.04%. The company had revenue of $5.77 billion during the quarter, compared to the consensus estimate of $5.69 billion. Research analysts forecast that Block, Inc. will post 1.03 EPS for the current year.

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.

See Also

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Institutional Ownership by Quarter for Block (NYSE:SQ)

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