Denver PWM LLC Invests $85,000 in Block, Inc. (NYSE:SQ)

Denver PWM LLC purchased a new stake in shares of Block, Inc. (NYSE:SQ) in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm purchased 1,311 shares of the technology company’s stock, valued at approximately $85,000.

Several other institutional investors have also recently bought and sold shares of the business. Montag A & Associates Inc. increased its stake in shares of 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 in the last quarter. Riverview Trust Co bought a new stake in Block during the 1st quarter worth about $28,000. Tidemark LLC acquired a new stake in Block in the 4th quarter valued at about $32,000. YHB Investment Advisors Inc. bought a new position in shares of Block in the first quarter worth about $33,000. Finally, Vima LLC bought a new position in shares of Block in the fourth quarter worth about $34,000. Institutional investors own 70.44% of the company’s stock.

Insider Buying and Selling

In other Block news, insider Brian Grassadonia sold 1,889 shares of the business’s stock in a transaction that occurred on Tuesday, July 2nd. The stock was sold at an average price of $64.37, for a total value of $121,594.93. Following the sale, the insider now owns 590,761 shares in the company, valued at approximately $38,027,285.57. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In related news, insider Brian Grassadonia sold 1,889 shares of the firm’s stock in a transaction on Tuesday, July 2nd. The shares were sold at an average price of $64.37, for a total value of $121,594.93. Following the completion of the transaction, the insider now owns 590,761 shares of the company’s stock, valued at $38,027,285.57. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director Roelof Botha purchased 434,405 shares of the business’s stock in a transaction on Tuesday, August 6th. The shares were acquired at an average cost of $57.55 per share, for a total transaction of $25,000,007.75. Following the completion of the transaction, the director now directly owns 434,405 shares in the company, valued at $25,000,007.75. The disclosure for this purchase can be found here. Over the last three months, insiders sold 28,179 shares of company stock worth $1,833,962. 10.49% of the stock is owned by corporate insiders.

Block Stock Up 0.8 %

Block stock opened at $64.60 on Friday. The company has a 50 day moving average of $64.34 and a 200-day moving average of $69.73. The company has a quick ratio of 1.82, a current ratio of 1.82 and a debt-to-equity ratio of 0.26. Block, Inc. has a twelve month low of $38.85 and a twelve month high of $87.52. The stock has a market capitalization of $39.77 billion, a PE ratio of 83.90, a price-to-earnings-growth ratio of 1.16 and a beta of 2.49.

Block (NYSE:SQ) last announced its earnings results on Thursday, August 1st. The technology company reported $0.93 earnings per share for the quarter, topping analysts’ consensus estimates of $0.84 by $0.09. Block had a net margin of 3.47% and a return on equity of 3.77%. The firm had revenue of $6.16 billion during the quarter, compared to analyst estimates of $6.27 billion. During the same period in the prior year, the business earned $0.40 EPS. The company’s revenue for the quarter was up 11.2% compared to the same quarter last year. On average, equities research analysts anticipate that Block, Inc. will post 1.72 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on SQ shares. Royal Bank of Canada reissued an “outperform” rating and issued a $88.00 price target on shares of Block in a report on Friday, August 2nd. Morgan Stanley lowered their target price on Block from $60.00 to $55.00 and set an “underweight” rating for the company in a research note on Tuesday, July 30th. Needham & Company LLC cut their price target on Block from $105.00 to $80.00 and set a “buy” rating on the stock in a research note on Monday, August 5th. Keefe, Bruyette & Woods lowered their price objective on Block from $82.00 to $74.00 and set a “market perform” rating for the company in a research report on Monday, July 8th. Finally, Susquehanna reissued a “positive” rating and set a $100.00 price objective on shares of Block in a report on Wednesday, June 26th. One investment analyst has rated the stock with a sell rating, five have given a hold rating, twenty-five have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $87.52.

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.