Bluesphere Advisors LLC Acquires New Position in Block, Inc. (NYSE:SQ)

Bluesphere Advisors LLC bought a new position in Block, Inc. (NYSE:SQ) in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm bought 4,146 shares of the technology company’s stock, valued at approximately $321,000.

A number of other institutional investors have also made changes to their positions in the company. Gilbert & Cook Inc. grew its position in shares of Block by 8.1% during the 4th quarter. Gilbert & Cook Inc. now owns 9,567 shares of the technology company’s stock valued at $740,000 after buying an additional 714 shares during the last quarter. Magnus Financial Group LLC bought a new stake in Block in the fourth quarter valued at $202,000. Convergence Investment Partners LLC bought a new position in shares of Block during the fourth quarter worth about $369,000. Sargent Investment Group LLC bought a new position in Block in the 4th quarter worth about $300,000. Finally, Transcend Capital Advisors LLC acquired a new position in shares of Block during the fourth quarter worth approximately $291,000. 70.44% of the stock is currently owned by institutional investors.

Block Stock Up 1.4 %

SQ traded up $1.06 during trading on Monday, hitting $75.54. The company had a trading volume of 3,251,960 shares, compared to its average volume of 9,723,199. The firm’s 50-day moving average price is $77.39 and its 200 day moving average price is $67.40. The company has a market capitalization of $46.51 billion, a PE ratio of 438.12, a PEG ratio of 2.06 and a beta of 2.55. The company has a quick ratio of 1.90, a current ratio of 1.90 and a debt-to-equity ratio of 0.22. Block, Inc. has a one year low of $38.85 and a one year high of $87.52.

Block (NYSE:SQ) last posted its quarterly earnings data 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. Block had a return on equity of 0.63% and a net margin of 0.04%. The business had revenue of $5.77 billion during the quarter, compared to the consensus estimate of $5.69 billion. As a group, equities analysts expect that Block, Inc. will post 1.11 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of analysts have commented on the stock. William Blair restated a “market perform” rating on shares of Block in a research report on Friday, February 23rd. BTIG Research upgraded Block from a “neutral” rating to a “buy” rating and set a $85.00 price objective for the company in a report on Tuesday, January 30th. Truist Financial lifted their target price on Block from $90.00 to $100.00 and gave the stock a “buy” rating in a report on Friday, February 23rd. Robert W. Baird lifted their price objective on shares of Block from $95.00 to $98.00 and gave the stock an “outperform” rating in a research note on Friday, April 19th. Finally, Canaccord Genuity Group increased their target price on shares of Block from $80.00 to $95.00 and gave the company a “buy” rating in a research note on Monday, February 26th. One research 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 stock. According to MarketBeat, Block currently has an average rating of “Moderate Buy” and a consensus target price of $85.67.

Insider Activity

In other Block news, insider Brian Grassadonia sold 127,800 shares of the business’s stock in a transaction dated Tuesday, February 20th. The shares were sold at an average price of $65.45, for a total transaction of $8,364,510.00. Following the sale, the insider now directly owns 405,224 shares of the company’s stock, valued at approximately $26,521,910.80. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In other news, insider Brian Grassadonia sold 127,800 shares of the company’s stock in a transaction that occurred 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 sale, the insider now owns 405,224 shares in the company, valued at approximately $26,521,910.80. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CFO Amrita Ahuja sold 2,581 shares of the business’s stock in a transaction on Wednesday, February 21st. The stock was sold at an average price of $64.30, for a total transaction of $165,958.30. Following the transaction, the chief financial officer now owns 201,754 shares in the company, valued at $12,972,782.20. The disclosure for this sale can be found here. Insiders have sold 363,801 shares of company stock worth $27,284,175 over the last ninety days. 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.