Angeles Investment Advisors LLC Purchases 176 Shares of Block, Inc. (NYSE:SQ)

Angeles Investment Advisors LLC increased its position in Block, Inc. (NYSE:SQ) by 2.4% in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 7,377 shares of the technology company’s stock after purchasing an additional 176 shares during the quarter. Angeles Investment Advisors LLC’s holdings in Block were worth $476,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds also recently made changes to their positions in the company. Brown Brothers Harriman & Co. lifted its holdings in shares of Block by 54.5% during the second quarter. Brown Brothers Harriman & Co. now owns 14,168 shares of the technology company’s stock valued at $914,000 after purchasing an additional 5,000 shares during the last quarter. Plato Investment Management Ltd raised its stake in Block by 6.8% during the second quarter. Plato Investment Management Ltd now owns 15,531 shares of the technology company’s stock valued at $1,002,000 after buying an additional 984 shares during the last quarter. Envestnet Asset Management Inc. boosted its holdings in Block by 5.4% in the second quarter. Envestnet Asset Management Inc. now owns 266,067 shares of the technology company’s stock worth $17,159,000 after acquiring an additional 13,649 shares in the last quarter. Federated Hermes Inc. raised its position in shares of Block by 1.8% in the 2nd quarter. Federated Hermes Inc. now owns 196,456 shares of the technology company’s stock worth $12,669,000 after purchasing an additional 3,479 shares during the last quarter. Finally, Meeder Advisory Services Inc. boosted its stake in Block by 48.2% in the 2nd quarter. Meeder Advisory Services Inc. now owns 7,266 shares of the technology company’s stock worth $469,000 after purchasing an additional 2,363 shares in the last quarter. 70.44% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on SQ. Morgan Stanley reduced their price objective on shares of Block from $60.00 to $55.00 and set an “underweight” rating for the company in a research note on Tuesday, July 30th. Royal Bank of Canada restated an “outperform” rating and issued a $88.00 price target on shares of Block in a research note on Friday, August 2nd. New Street Research initiated coverage on shares of Block in a research report on Monday, September 9th. They set a “neutral” rating and a $70.00 target price for the company. UBS Group reduced their price target on Block from $100.00 to $92.00 and set a “buy” rating for the company in a research report on Tuesday, August 27th. Finally, Susquehanna reissued a “positive” rating and issued a $100.00 price objective on shares of Block in a research note on Wednesday, June 26th. One research analyst has rated the stock with a sell rating, six have issued a hold rating, twenty-four have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $87.34.

Insider Buying and Selling at Block

In related news, insider Brian Grassadonia sold 1,889 shares of Block stock in a transaction dated Tuesday, July 2nd. The shares were sold at an average price of $64.37, for a total transaction of $121,594.93. Following the completion of the transaction, the insider now directly owns 590,761 shares of the company’s stock, valued at approximately $38,027,285.57. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. In other Block news, insider Chrysty Esperanza sold 2,500 shares of the company’s stock in a transaction on Monday, July 15th. The stock was sold at an average price of $70.00, for a total value of $175,000.00. Following the transaction, the insider now owns 92,048 shares of the company’s stock, valued at approximately $6,443,360. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Brian Grassadonia sold 1,889 shares of Block stock in a transaction 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 of the company’s stock, valued at $38,027,285.57. The disclosure for this sale can be found here. Insiders have sold 28,179 shares of company stock worth $1,833,962 over the last quarter. Insiders own 10.49% of the company’s stock.

Block Stock Up 0.5 %

Shares of NYSE:SQ opened at $63.99 on Monday. The company has a 50-day moving average price of $64.09 and a 200 day moving average price of $69.31. The company has a current ratio of 1.82, a quick ratio of 1.82 and a debt-to-equity ratio of 0.26. Block, Inc. has a 12 month low of $38.85 and a 12 month high of $87.52. The company has a market cap of $39.40 billion, a price-to-earnings ratio of 83.10, a PEG ratio of 1.11 and a beta of 2.49.

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

Block Profile

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.