Block, Inc. (NYSE:SQ) Shares Sold by Foundations Investment Advisors LLC

Foundations Investment Advisors LLC trimmed its stake in Block, Inc. (NYSE:SQ) by 28.5% during the second quarter, HoldingsChannel.com reports. The institutional investor owned 9,778 shares of the technology company’s stock after selling 3,891 shares during the quarter. Foundations Investment Advisors LLC’s holdings in Block were worth $631,000 as of its most recent filing with the SEC.

Several other institutional investors have also modified their holdings of the company. Gilbert & Cook Inc. raised its holdings in shares of Block by 8.1% during the fourth 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. Benjamin F. Edwards & Company Inc. raised its stake in Block by 21.8% during the 4th quarter. Benjamin F. Edwards & Company Inc. now owns 1,739 shares of the technology company’s stock valued at $135,000 after acquiring an additional 311 shares in the last quarter. Private Advisor Group LLC boosted its position in Block by 2.7% during the 4th quarter. Private Advisor Group LLC now owns 37,181 shares of the technology company’s stock worth $2,876,000 after acquiring an additional 975 shares during the period. Lincoln National Corp grew its stake in shares of Block by 9.7% in the fourth quarter. Lincoln National Corp now owns 6,518 shares of the technology company’s stock worth $504,000 after purchasing an additional 579 shares in the last quarter. Finally, Apollon Wealth Management LLC increased its holdings in shares of Block by 42.1% during the fourth quarter. Apollon Wealth Management LLC now owns 10,408 shares of the technology company’s stock valued at $805,000 after purchasing an additional 3,086 shares during the period. Institutional investors own 70.44% of the company’s stock.

Insider Transactions at Block

In related news, insider Brian Grassadonia sold 8,328 shares of Block stock in a transaction on Wednesday, August 21st. The stock was sold at an average price of $64.77, for a total transaction of $539,404.56. Following the completion of the sale, the insider now owns 580,086 shares of the company’s stock, valued at $37,572,170.22. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In other Block news, Director Roelof Botha purchased 434,405 shares of the company’s stock in a transaction dated Tuesday, August 6th. The shares were bought at an average price of $57.55 per share, for a total transaction of $25,000,007.75. Following the purchase, the director now directly owns 434,405 shares in the company, valued at approximately $25,000,007.75. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Brian Grassadonia sold 8,328 shares of Block stock in a transaction on Wednesday, August 21st. The shares were sold at an average price of $64.77, for a total transaction of $539,404.56. Following the completion of the sale, the insider now directly owns 580,086 shares of the company’s stock, valued at approximately $37,572,170.22. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 28,179 shares of company stock valued at $1,833,962. 10.49% of the stock is owned by insiders.

Block Price Performance

Shares of SQ opened at $61.25 on Friday. The business’s 50-day moving average is $64.28 and its 200-day moving average is $69.70. The company has a debt-to-equity ratio of 0.26, a current ratio of 1.82 and a quick ratio of 1.82. The company has a market capitalization of $37.71 billion, a price-to-earnings ratio of 79.55, a P/E/G ratio of 1.16 and a beta of 2.49. Block, Inc. has a fifty-two week low of $38.85 and a fifty-two week high of $87.52.

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

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on SQ shares. The Goldman Sachs Group reaffirmed a “buy” rating and issued a $80.00 price objective on shares of Block in a report on Monday, June 24th. Macquarie reiterated an “outperform” rating and issued a $100.00 price objective on shares of Block in a report on Friday, July 26th. BMO Capital Markets boosted their target price on Block from $92.00 to $93.00 and gave the stock an “outperform” rating in a report on Friday, August 2nd. Benchmark reaffirmed a “buy” rating and set a $99.00 price target on shares of Block in a research note on Friday, August 2nd. Finally, William Blair upgraded Block to a “strong-buy” rating in a research report on Wednesday, July 31st. One research analyst has rated the stock with a sell rating, five have assigned a hold rating, twenty-five have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, Block has an average rating of “Moderate Buy” and a consensus 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.