Golden State Equity Partners Invests $309,000 in Block, Inc. (NYSE:SQ)

Golden State Equity Partners bought a new position in Block, Inc. (NYSE:SQ) during the 4th quarter, Holdings Channel reports. The fund bought 3,989 shares of the technology company’s stock, valued at approximately $309,000.

Other large investors have also recently made changes to their positions in the company. Hexagon Capital Partners LLC increased its stake in Block by 89.6% during the third quarter. Hexagon Capital Partners LLC now owns 635 shares of the technology company’s stock worth $28,000 after acquiring an additional 300 shares during the last quarter. Front Row Advisors LLC increased its stake in 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 acquiring an additional 675 shares during the last quarter. Larson Financial Group LLC increased its stake in Block by 38.4% during the third quarter. Larson Financial Group LLC now owns 728 shares of the technology company’s stock worth $32,000 after acquiring an additional 202 shares during the last quarter. Headinvest LLC bought a new stake in Block during the third quarter worth approximately $44,000. Finally, CNB Bank increased its stake in Block by 40.2% during the third quarter. CNB Bank now owns 1,046 shares of the technology company’s stock worth $46,000 after acquiring an additional 300 shares during the last quarter. 70.44% of the stock is owned by institutional investors.

Block Stock Up 2.3 %

Block stock opened at $74.48 on Friday. The business has a fifty day moving average of $77.39 and a two-hundred day moving average of $67.26. 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 cap of $45.86 billion, a P/E ratio of 438.12, a P/E/G ratio of 2.06 and a beta of 2.55. Block, Inc. has a twelve month low of $38.85 and a twelve month high of $87.52.

Block (NYSE:SQ) last issued its quarterly earnings results on Thursday, February 22nd. The technology company reported $0.03 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.02 by $0.01. The business had revenue of $5.77 billion for the quarter, compared to the consensus estimate of $5.69 billion. Block had a return on equity of 0.63% and a net margin of 0.04%. On average, analysts forecast that Block, Inc. will post 1.11 earnings per share for the current fiscal year.

Insider Transactions at Block

In other news, insider Brian Grassadonia sold 127,800 shares of the company’s stock in a transaction on Tuesday, February 20th. The stock was sold at an average price of $65.45, for a total transaction of $8,364,510.00. Following the transaction, the insider now directly owns 405,224 shares of the company’s stock, valued at $26,521,910.80. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other news, insider Brian Grassadonia sold 127,800 shares of the company’s stock in a transaction on Tuesday, February 20th. The stock was sold at an average price of $65.45, for a total transaction of $8,364,510.00. Following the transaction, the insider now directly owns 405,224 shares of the company’s stock, valued at $26,521,910.80. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CFO Amrita Ahuja sold 2,581 shares of the company’s stock in a transaction on Wednesday, February 21st. The stock was sold at an average price of $64.30, for a total value of $165,958.30. Following the transaction, the chief financial officer now directly owns 201,754 shares in the company, valued at $12,972,782.20. The disclosure for this sale can be found here. Over the last three months, insiders have sold 363,801 shares of company stock valued at $27,284,175. Corporate insiders own 10.79% of the company’s stock.

Analysts Set New Price Targets

SQ has been the topic of several analyst reports. Royal Bank of Canada boosted their price objective on Block from $77.00 to $88.00 and gave the stock an “outperform” rating in a research note on Friday, February 23rd. 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. Canaccord Genuity Group boosted their target price on Block from $80.00 to $95.00 and gave the company a “buy” rating in a research report on Monday, February 26th. Benchmark boosted their target price on Block from $89.00 to $99.00 and gave the company a “buy” rating in a research report on Thursday, April 4th. Finally, Wedbush restated an “outperform” rating and set a $90.00 target price on shares of Block in a research report on Tuesday, February 20th. One analyst has rated the stock with a sell rating, six have assigned a hold rating and twenty-eight have given a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $85.67.

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.