4,003 Shares in Block, Inc. (NYSE:SQ) Purchased by Prosperity Consulting Group LLC

Prosperity Consulting Group LLC acquired a new stake in Block, Inc. (NYSE:SQFree Report) during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor acquired 4,003 shares of the technology company’s stock, valued at approximately $339,000.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Montag A & Associates Inc. grew its stake in Block by 843.2% in the 4th quarter. Montag A & Associates Inc. now owns 349 shares of the technology company’s stock valued at $27,000 after buying an additional 312 shares during the last quarter. Riverview Trust Co acquired a new position in shares of Block in the first quarter valued at approximately $28,000. Front Row Advisors LLC increased its stake in shares of Block by 67,500.0% during the third quarter. Front Row Advisors LLC now owns 676 shares of the technology company’s stock worth $30,000 after purchasing an additional 675 shares during the period. Tidemark LLC acquired a new stake in Block during the 4th quarter worth approximately $32,000. Finally, YHB Investment Advisors Inc. bought a new stake in Block in the 1st quarter valued at $33,000. 70.44% of the stock is currently owned by institutional investors.

Insider Transactions at Block

In related news, insider Brian Grassadonia sold 5,155 shares of the company’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 $367,345.30. Following the sale, the insider now owns 599,150 shares in the company, valued at approximately $42,695,429. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other news, insider Brian Grassadonia sold 5,155 shares of Block stock in a transaction on Tuesday, May 21st. The shares were sold at an average price of $71.26, for a total value of $367,345.30. Following the completion of the sale, the insider now owns 599,150 shares in the company, valued at approximately $42,695,429. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CAO Ajmere Dale sold 471 shares of the stock in a transaction on Tuesday, July 2nd. The stock was sold at an average price of $64.37, for a total transaction of $30,318.27. Following the transaction, the chief accounting officer now directly owns 92,866 shares in the company, valued at $5,977,784.42. The disclosure for this sale can be found here. In the last ninety days, insiders sold 134,526 shares of company stock valued at $9,111,866. Corporate insiders own 10.49% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have weighed in on the company. Mizuho increased their price objective on Block from $99.00 to $106.00 and gave the stock a “buy” rating in a research report on Wednesday, April 10th. Morgan Stanley restated an “underweight” rating and set a $60.00 target price (down previously from $62.00) on shares of Block in a research report on Thursday, April 4th. Benchmark reiterated a “buy” rating and issued a $99.00 price target on shares of Block in a research note on Friday, May 3rd. Susquehanna reiterated a “positive” rating and set a $100.00 target price on shares of Block in a research report on Wednesday, June 26th. Finally, Wolfe Research upped their price objective on shares of Block from $95.00 to $100.00 and gave the stock an “outperform” rating in a research report on Thursday, April 11th. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and twenty-seven have given a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $87.13.

Read Our Latest Report on Block

Block Stock Performance

NYSE:SQ opened at $65.78 on Friday. The company has a market capitalization of $40.59 billion, a PE ratio of 85.43, a P/E/G ratio of 1.54 and a beta of 2.52. Block, Inc. has a fifty-two week low of $38.85 and a fifty-two week high of $87.52. The company has a debt-to-equity ratio of 0.16, a quick ratio of 1.64 and a current ratio of 1.64. The company has a 50 day simple moving average of $66.83 and a two-hundred day simple moving average of $71.23.

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

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.

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Institutional Ownership by Quarter for Block (NYSE:SQ)

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