Block, Inc. (NYSE:SQ) Holdings Boosted by Mackenzie Financial Corp

Mackenzie Financial Corp boosted its position in shares of Block, Inc. (NYSE:SQ) by 85.4% during the 4th quarter, HoldingsChannel reports. The firm owned 139,647 shares of the technology company’s stock after buying an additional 64,337 shares during the quarter. Mackenzie Financial Corp’s holdings in Block were worth $10,802,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Hexagon Capital Partners LLC grew its position in Block by 89.6% during the 3rd quarter. Hexagon Capital Partners LLC now owns 635 shares of the technology company’s stock worth $28,000 after purchasing an additional 300 shares in the last quarter. Front Row Advisors LLC grew its position in Block by 67,500.0% during the 3rd quarter. Front Row Advisors LLC now owns 676 shares of the technology company’s stock worth $30,000 after purchasing an additional 675 shares in the last quarter. Strategic Investment Solutions Inc. IL purchased a new position in Block during the 1st quarter worth approximately $31,000. Larson Financial Group LLC grew its position in Block by 38.4% during the 3rd quarter. Larson Financial Group LLC now owns 728 shares of the technology company’s stock worth $32,000 after purchasing an additional 202 shares in the last quarter. Finally, Headinvest LLC purchased a new position in Block during the 3rd quarter worth approximately $44,000. 70.44% of the stock is currently owned by hedge funds and other institutional investors.

Block Stock Performance

NYSE:SQ opened at $70.43 on Friday. Block, Inc. has a 12-month low of $38.85 and a 12-month high of $87.52. The company has a quick ratio of 1.90, a current ratio of 1.90 and a debt-to-equity ratio of 0.22. The firm has a market capitalization of $43.36 billion, a PE ratio of 423.88, a price-to-earnings-growth ratio of 2.13 and a beta of 2.55. The firm has a 50-day moving average price of $76.75 and a 200 day moving average price of $66.04.

Block (NYSE:SQ) last posted its quarterly earnings results on Thursday, February 22nd. The technology company reported $0.03 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.02 by $0.01. Block had a net margin of 0.04% and a return on equity of 0.63%. The firm had revenue of $5.77 billion during the quarter, compared to analyst estimates of $5.69 billion. Research analysts anticipate that Block, Inc. will post 1.02 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on SQ shares. Piper Sandler restated an “overweight” rating and set a $88.00 price target (up from $86.00) on shares of Block in a report on Friday, February 23rd. Benchmark boosted their price target on shares of Block from $89.00 to $99.00 and gave the company a “buy” rating in a report on Thursday, April 4th. Truist Financial boosted their price target on shares of Block from $90.00 to $100.00 and gave the company a “buy” rating in a report on Friday, February 23rd. Royal Bank of Canada boosted their price target on shares of Block from $77.00 to $88.00 and gave the company an “outperform” rating in a report on Friday, February 23rd. Finally, Monness Crespi & Hardt boosted their price target on shares of Block from $85.00 to $100.00 and gave the company a “buy” rating in a report on Friday, February 23rd. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and twenty-seven have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $85.22.

Insider Buying and Selling

In related news, insider Brian Grassadonia sold 4,514 shares of the stock in a transaction dated Wednesday, April 3rd. The shares were sold at an average price of $78.41, for a total value of $353,942.74. Following the completion of the transaction, the insider now owns 477,290 shares of the company’s stock, valued at $37,424,308.90. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other Block news, CFO Amrita Ahuja sold 2,581 shares of the company’s stock in a transaction dated Wednesday, February 21st. The shares were sold at an average price of $64.30, for a total transaction of $165,958.30. Following the sale, the chief financial officer now directly owns 201,754 shares of the company’s stock, valued at $12,972,782.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, insider Brian Grassadonia sold 4,514 shares of the company’s stock in a transaction dated Wednesday, April 3rd. The stock was sold at an average price of $78.41, for a total transaction of $353,942.74. Following the sale, the insider now directly owns 477,290 shares in the company, valued at $37,424,308.90. The disclosure for this sale can be found here. Insiders sold 363,801 shares of company stock valued at $27,284,175 over the last quarter. Corporate insiders own 10.79% of the company’s stock.

About Block

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.