Block, Inc. (NYSE:SQ) Shares Sold by Allianz Asset Management GmbH

Allianz Asset Management GmbH lessened its holdings in Block, Inc. (NYSE:SQFree Report) by 75.8% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 89,831 shares of the technology company’s stock after selling 281,696 shares during the period. Allianz Asset Management GmbH’s holdings in Block were worth $6,948,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in SQ. Principal Financial Group Inc. grew its stake in shares of Block by 4.5% in the third quarter. Principal Financial Group Inc. now owns 51,738 shares of the technology company’s stock valued at $2,290,000 after buying an additional 2,246 shares in the last quarter. Kestra Private Wealth Services LLC raised its stake in shares of Block by 21.3% during the third quarter. Kestra Private Wealth Services LLC now owns 19,136 shares of the technology company’s stock valued at $847,000 after purchasing an additional 3,361 shares during the period. Boston Partners acquired a new position in shares of Block during the third quarter worth $738,000. Oppenheimer & Co. Inc. boosted its stake in shares of Block by 1.1% in the third quarter. Oppenheimer & Co. Inc. now owns 18,753 shares of the technology company’s stock valued at $830,000 after purchasing an additional 211 shares during the period. Finally, New York Life Investment Management LLC grew its holdings in Block by 10.4% during the 3rd quarter. New York Life Investment Management LLC now owns 5,626 shares of the technology company’s stock valued at $249,000 after purchasing an additional 528 shares in the last quarter. Institutional investors and hedge funds own 70.44% of the company’s stock.

Block Trading Down 0.1 %

NYSE:SQ opened at $64.24 on Wednesday. The stock has a market cap of $39.64 billion, a price-to-earnings ratio of 83.43, a PEG ratio of 1.52 and a beta of 2.54. The company has a debt-to-equity ratio of 0.16, a quick ratio of 1.64 and a current ratio of 1.64. Block, Inc. has a 1 year low of $38.85 and a 1 year high of $87.52. The business has a fifty day moving average of $72.84 and a 200-day moving average of $71.64.

Block (NYSE:SQGet Free Report) last issued its quarterly earnings results on Thursday, May 2nd. The technology company reported $0.47 earnings per share for the quarter, topping analysts’ consensus estimates of $0.15 by $0.32. Block had a net margin of 2.18% and a return on equity of 2.04%. The company had revenue of $5.96 billion during the quarter, compared to analyst estimates of $5.75 billion. Equities analysts predict that Block, Inc. will post 1.26 earnings per share for the current year.

Insider Buying and Selling at Block

In other news, insider Brian Grassadonia sold 111,666 shares of the company’s stock in a transaction on Monday, April 1st. The stock was sold at an average price of $82.73, for a total value of $9,238,128.18. Following the completion of the sale, the insider now owns 485,645 shares in the company, valued at $40,177,410.85. The sale was disclosed in a legal filing with the SEC, which is available at this link. In other Block news, CAO Ajmere Dale sold 1,278 shares of the business’s stock in a transaction dated Tuesday, May 21st. The stock was sold at an average price of $71.26, for a total transaction of $91,070.28. Following the sale, the chief accounting officer now owns 93,337 shares in the company, valued at approximately $6,651,194.62. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, insider Brian Grassadonia sold 111,666 shares of the firm’s stock in a transaction dated 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 of the company’s stock, valued at $40,177,410.85. The disclosure for this sale can be found here. In the last ninety days, insiders sold 247,739 shares of company stock valued at $18,584,747. 10.49% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on SQ shares. KeyCorp raised their target price on Block from $80.00 to $95.00 and gave the company an “overweight” rating in a research note on Wednesday, March 27th. Evercore ISI restated an “in-line” rating and set a $75.00 price objective on shares of Block in a report on Tuesday, March 26th. Wells Fargo & Company raised Block from an “equal weight” rating to an “overweight” rating and set a $95.00 target price on the stock in a research report on Friday, February 23rd. William Blair restated a “market perform” rating on shares of Block in a research note on Friday, February 23rd. Finally, Needham & Company LLC raised their price objective on shares of Block from $95.00 to $105.00 and gave the stock a “buy” rating in a report on Friday, May 3rd. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and twenty-seven have assigned a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $87.59.

Get Our Latest Report on SQ

Block 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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