15,307 Shares in Block, Inc. (NYSE:SQ) Acquired by Cibc World Markets Corp

Cibc World Markets Corp acquired a new position in Block, Inc. (NYSE:SQFree Report) in the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor acquired 15,307 shares of the technology company’s stock, valued at approximately $1,184,000.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in SQ. New York Life Investment Management LLC boosted its stake 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. Charles Schwab Investment Management Inc. boosted its stake in Block by 2.0% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 2,046,245 shares of the technology company’s stock valued at $90,567,000 after purchasing an additional 40,694 shares in the last quarter. Pathstone Family Office LLC boosted its stake in Block by 21.2% during the 3rd quarter. Pathstone Family Office LLC now owns 31,768 shares of the technology company’s stock valued at $1,449,000 after purchasing an additional 5,547 shares in the last quarter. Huntington National Bank boosted its stake in Block by 30.5% during the 3rd quarter. Huntington National Bank now owns 1,292 shares of the technology company’s stock valued at $57,000 after purchasing an additional 302 shares in the last quarter. Finally, Gould Capital LLC boosted its stake in Block by 37.3% during the 3rd quarter. Gould Capital LLC now owns 17,766 shares of the technology company’s stock valued at $767,000 after purchasing an additional 4,823 shares in the last quarter. 70.44% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

SQ has been the subject of a number of research reports. Mizuho increased their price target on Block from $99.00 to $106.00 and gave the company a “buy” rating in a research note on Wednesday, April 10th. Truist Financial increased their price objective on Block from $90.00 to $100.00 and gave the company a “buy” rating in a research report on Friday, February 23rd. Seaport Res Ptn upgraded Block from a “neutral” rating to a “buy” rating in a research report on Friday, February 23rd. KeyCorp increased their price objective on Block from $80.00 to $95.00 and gave the company an “overweight” rating in a research report on Wednesday, March 27th. Finally, Piper Sandler reiterated an “overweight” rating and set a $88.00 price objective (up previously from $86.00) on shares of Block in a research report on Friday, February 23rd. One analyst has rated the stock with a sell rating, seven have given a hold rating and twenty-seven have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $87.59.

Check Out Our Latest Stock Analysis on SQ

Insiders Place Their Bets

In other Block news, CAO Ajmere Dale sold 500 shares of the stock in a transaction on Monday, April 1st. The shares were sold at an average price of $84.75, for a total transaction of $42,375.00. Following the transaction, the chief accounting officer now directly owns 68,323 shares of the company’s stock, valued at $5,790,374.25. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other news, insider Brian Grassadonia sold 113,668 shares of the firm’s stock in a transaction dated Wednesday, May 1st. The stock was sold at an average price of $67.56, for a total value of $7,679,410.08. Following the sale, the insider now directly owns 603,861 shares of the company’s stock, valued at $40,796,849.16. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CAO Ajmere Dale sold 500 shares of the firm’s stock in a transaction dated Monday, April 1st. The shares were sold at an average price of $84.75, for a total value of $42,375.00. Following the completion of the sale, the chief accounting officer now directly owns 68,323 shares in the company, valued at $5,790,374.25. The disclosure for this sale can be found here. Insiders have sold 247,739 shares of company stock valued at $18,584,747 over the last three months. 10.49% of the stock is currently owned by insiders.

Block Trading Down 1.1 %

NYSE SQ opened at $64.36 on Tuesday. The company has a current ratio of 1.64, a quick ratio of 1.64 and a debt-to-equity ratio of 0.16. The company has a market capitalization of $39.71 billion, a PE ratio of 83.59, a price-to-earnings-growth ratio of 1.52 and a beta of 2.54. Block, Inc. has a 1-year low of $38.85 and a 1-year high of $87.52. The firm’s fifty day simple moving average is $71.38 and its 200-day simple moving average is $71.82.

Block (NYSE:SQGet Free Report) last posted its earnings results on Thursday, May 2nd. The technology company reported $0.47 EPS for the quarter, topping the consensus estimate of $0.15 by $0.32. The firm had revenue of $5.96 billion for the quarter, compared to the consensus estimate of $5.75 billion. Block had a net margin of 2.18% and a return on equity of 2.04%. As a group, sell-side analysts anticipate that Block, Inc. will post 1.28 earnings per share for the current fiscal 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.

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Institutional Ownership by Quarter for Block (NYSE:SQ)

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