Crewe Advisors LLC Invests $65,000 in Block, Inc. (NYSE:SQ)

Crewe Advisors LLC bought a new position in Block, Inc. (NYSE:SQ) in the first quarter, according to its most recent filing with the SEC. The firm bought 765 shares of the technology company’s stock, valued at approximately $65,000.

Other large investors also recently bought and sold shares of the company. Montag A & Associates Inc. boosted its position in Block by 843.2% in the fourth 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 purchased a new stake in shares of Block in the 1st quarter valued at $28,000. Tidemark LLC acquired a new stake in shares of Block in the fourth quarter worth $32,000. YHB Investment Advisors Inc. acquired a new stake in shares of Block in the first quarter worth $33,000. Finally, Vima LLC purchased a new position in shares of Block during the fourth quarter worth $34,000. Hedge funds and other institutional investors own 70.44% of the company’s stock.

Insider Activity at Block

In other Block news, CFO Amrita Ahuja sold 5,277 shares of the business’s stock in a transaction dated Tuesday, July 2nd. The shares were sold at an average price of $64.13, for a total transaction of $338,414.01. Following the sale, the chief financial officer now directly owns 274,410 shares in the company, valued at $17,597,913.30. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, CFO Amrita Ahuja sold 5,277 shares of the company’s stock in a transaction that occurred on Tuesday, July 2nd. The shares were sold at an average price of $64.13, for a total transaction of $338,414.01. Following the sale, the chief financial officer now directly owns 274,410 shares of the company’s stock, valued at approximately $17,597,913.30. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, 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 transaction, the insider now owns 599,150 shares of the company’s stock, valued at $42,695,429. The disclosure for this sale can be found here. Insiders sold 138,173 shares of company stock worth $9,363,222 in the last three months. 10.49% of the stock is owned by company insiders.

Block Trading Down 2.3 %

Shares of Block stock traded down $1.39 during trading hours on Friday, hitting $60.19. The company’s stock had a trading volume of 3,095,656 shares, compared to its average volume of 8,838,494. The stock has a market cap of $37.14 billion, a price-to-earnings ratio of 79.98, a P/E/G ratio of 1.44 and a beta of 2.52. The company has a debt-to-equity ratio of 0.16, a quick ratio of 1.64 and a current ratio of 1.64. Block, Inc. has a twelve month low of $38.85 and a twelve month high of $87.52. The firm has a fifty day moving average of $65.61 and a 200-day moving average of $70.48.

Block (NYSE:SQ) last released its quarterly earnings results on Thursday, May 2nd. The technology company reported $0.47 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.15 by $0.32. The business 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%. Research analysts forecast that Block, Inc. will post 1.28 EPS for the current year.

Analysts Set New Price Targets

Several equities research analysts have weighed in on SQ shares. Wolfe Research increased their price target on Block from $95.00 to $100.00 and gave the stock an “outperform” rating in a research report on Thursday, April 11th. Robert W. Baird raised their price target on shares of Block from $98.00 to $100.00 and gave the company an “outperform” rating in a research report on Friday, May 3rd. Citigroup raised their price objective on Block from $86.00 to $90.00 and gave the company a “buy” rating in a report on Monday, May 6th. Canaccord Genuity Group reaffirmed a “buy” rating and set a $95.00 target price on shares of Block in a research note on Friday, May 3rd. Finally, The Goldman Sachs Group reiterated a “buy” rating and set a $80.00 target price on shares of Block in a research report on Monday, June 24th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and twenty-eight have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $87.25.

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.