Block, Inc. (NYSE:SQ) Holdings Reduced by Northern Trust Corp

Northern Trust Corp cut its holdings in shares of Block, Inc. (NYSE:SQFree Report) by 2.0% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 3,004,860 shares of the technology company’s stock after selling 60,776 shares during the period. Northern Trust Corp owned approximately 0.49% of Block worth $232,426,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. Hexagon Capital Partners LLC lifted its stake in Block by 26.8% during the fourth quarter. Hexagon Capital Partners LLC now owns 805 shares of the technology company’s stock valued at $62,000 after buying an additional 170 shares in the last quarter. Washington Trust Advisors Inc. boosted its stake in Block by 38.7% in the 4th quarter. Washington Trust Advisors Inc. now owns 616 shares of the technology company’s stock worth $48,000 after purchasing an additional 172 shares during the period. Dynamic Advisor Solutions LLC grew its position in Block by 2.9% during 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 in the last quarter. WP Advisors LLC raised its stake in Block by 3.9% during the 4th quarter. WP Advisors LLC now owns 5,381 shares of the technology company’s stock valued at $416,000 after purchasing an additional 200 shares during the period. Finally, Diversified Trust Co raised its stake in Block by 0.4% during the 4th quarter. Diversified Trust Co now owns 57,232 shares of the technology company’s stock valued at $4,427,000 after purchasing an additional 209 shares during the period. Institutional investors own 70.44% of the company’s stock.

Block Price Performance

NYSE:SQ opened at $65.10 on Friday. The company has a fifty day moving average price of $71.72 and a 200 day moving average price of $71.69. The stock has a market cap of $40.17 billion, a P/E ratio of 84.55, a PEG ratio of 1.52 and a beta of 2.54. The company has a debt-to-equity ratio of 0.16, a current ratio of 1.64 and a quick ratio of 1.64. Block, Inc. has a one year low of $38.85 and a one year high of $87.52.

Block (NYSE:SQGet Free Report) last issued its earnings results on Thursday, May 2nd. The technology company reported $0.47 EPS for the quarter, beating analysts’ consensus estimates of $0.15 by $0.32. Block had a return on equity of 2.04% and a net margin of 2.18%. The business had revenue of $5.96 billion during the quarter, compared to analyst estimates of $5.75 billion. Analysts anticipate that Block, Inc. will post 1.28 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of research analysts have recently weighed in on the company. Susquehanna reiterated a “positive” rating and set a $100.00 price target on shares of Block in a report on Monday, April 22nd. Wells Fargo & Company upgraded Block from an “equal weight” rating to an “overweight” rating and set a $95.00 target price on the stock in a report on Friday, February 23rd. Keefe, Bruyette & Woods raised their price target on shares of Block from $74.00 to $78.00 and gave the stock a “market perform” rating in a report on Friday, February 23rd. Wolfe Research upped their price objective on shares of Block from $95.00 to $100.00 and gave the company an “outperform” rating in a research note on Thursday, April 11th. Finally, Evercore ISI reiterated an “in-line” rating and issued a $75.00 target price on shares of Block in a research report on Tuesday, March 26th. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and twenty-seven have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $87.59.

Check Out Our Latest Analysis on Block

Insider Activity

In related news, insider Brian Grassadonia sold 113,668 shares of the firm’s stock in a transaction that occurred on Wednesday, May 1st. The stock was sold at an average price of $67.56, for a total transaction of $7,679,410.08. Following the completion of the transaction, the insider now owns 603,861 shares in the company, valued at approximately $40,796,849.16. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In related news, insider Brian Grassadonia sold 113,668 shares of the stock in a transaction dated Wednesday, May 1st. The shares were sold at an average price of $67.56, for a total transaction of $7,679,410.08. Following the completion of the sale, the insider now owns 603,861 shares in the company, valued at approximately $40,796,849.16. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CAO Ajmere Dale sold 500 shares of the business’s stock in a transaction dated Monday, April 1st. The shares were sold at an average price of $84.75, for a total transaction of $42,375.00. Following the completion of the transaction, the chief accounting officer now owns 68,323 shares in the company, valued at $5,790,374.25. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 247,739 shares of company stock worth $18,584,747. Company insiders own 10.49% of the company’s stock.

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.

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Institutional Ownership by Quarter for Block (NYSE:SQ)

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