Fisher Asset Management LLC Sells 10,644 Shares of Block, Inc. (NYSE:SQ)

Fisher Asset Management LLC lowered its stake in Block, Inc. (NYSE:SQ) by 25.5% during the 4th quarter, HoldingsChannel reports. The firm owned 31,164 shares of the technology company’s stock after selling 10,644 shares during the period. Fisher Asset Management LLC’s holdings in Block were worth $2,411,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also added to or reduced their stakes in the company. Hexagon Capital Partners LLC grew its holdings in shares of Block by 26.8% in the fourth quarter. Hexagon Capital Partners LLC now owns 805 shares of the technology company’s stock worth $62,000 after acquiring an additional 170 shares during the period. Washington Trust Advisors Inc. increased its position in shares of Block by 38.7% during 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 during the last quarter. Dynamic Advisor Solutions LLC lifted its stake in shares of Block by 2.9% in the 4th quarter. Dynamic Advisor Solutions LLC now owns 6,328 shares of the technology company’s stock worth $489,000 after purchasing an additional 180 shares during the period. WP Advisors LLC boosted its holdings in shares of Block by 3.9% in the fourth quarter. WP Advisors LLC now owns 5,381 shares of the technology company’s stock worth $416,000 after buying an additional 200 shares during the last quarter. Finally, Larson Financial Group LLC grew its position in Block by 38.4% during the third quarter. Larson Financial Group LLC now owns 728 shares of the technology company’s stock valued at $32,000 after buying an additional 202 shares during the period. 70.44% of the stock is currently owned by hedge funds and other institutional investors.

Block Price Performance

Shares of SQ stock opened at $71.14 on Thursday. The company has a market cap of $43.80 billion, a P/E ratio of 92.39, a PEG ratio of 1.66 and a beta of 2.57. The stock’s 50-day moving average is $77.49 and its 200 day moving average is $68.73. Block, Inc. has a 1-year low of $38.85 and a 1-year high of $87.52. The company has a debt-to-equity ratio of 0.22, a current ratio of 1.90 and a quick ratio of 1.90.

Block (NYSE:SQ) last posted its quarterly earnings data on Thursday, February 22nd. The technology company reported $0.03 EPS for the quarter, topping the consensus estimate of $0.02 by $0.01. Block had a net margin of 2.18% and a return on equity of 2.07%. The firm had revenue of $5.77 billion during the quarter, compared to analyst estimates of $5.69 billion. Research analysts predict that Block, Inc. will post 1.29 earnings per share for the current fiscal year.

Insider Transactions at Block

In other Block news, insider Brian Grassadonia sold 127,800 shares of the firm’s stock in a transaction dated 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 completion of the sale, the insider now owns 405,224 shares of the company’s stock, valued at $26,521,910.80. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. In other Block news, 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 transaction, the insider now owns 405,224 shares of the company’s stock, valued at $26,521,910.80. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, CFO Amrita Ahuja sold 4,170 shares of the business’s stock in a transaction on Tuesday, April 2nd. The shares were sold at an average price of $78.84, for a total transaction of $328,762.80. Following the sale, the chief financial officer now directly owns 193,192 shares in the company, valued at $15,231,257.28. The disclosure for this sale can be found here. Insiders sold 477,469 shares of company stock valued at $34,963,585 in the last quarter. 10.79% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

SQ has been the subject of several analyst reports. Keefe, Bruyette & Woods upped their price objective on Block from $74.00 to $78.00 and gave the stock a “market perform” rating in a research note on Friday, February 23rd. KeyCorp boosted their price objective on Block from $80.00 to $95.00 and gave the company an “overweight” rating in a research note on Wednesday, March 27th. Wolfe Research lifted their price target on shares of Block from $95.00 to $100.00 and gave the company an “outperform” rating in a report on Thursday, April 11th. William Blair restated a “market perform” rating on shares of Block in a research note on Friday, February 23rd. Finally, BTIG Research raised Block from a “neutral” rating to a “buy” rating and set a $85.00 price target on the stock in a report on Tuesday, January 30th. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and twenty-seven have assigned a buy rating to the stock. According to MarketBeat, Block currently has an average rating of “Moderate Buy” and an average price target of $87.55.

Block Company 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.