Mather Group LLC. Sells 1,278 Shares of Block, Inc. (NYSE:SQ)

Mather Group LLC. cut its stake in shares of Block, Inc. (NYSE:SQ) by 76.1% in the 3rd quarter, HoldingsChannel.com reports. The firm owned 402 shares of the technology company’s stock after selling 1,278 shares during the quarter. Mather Group LLC.’s holdings in Block were worth $27,000 as of its most recent SEC filing.

Several other large investors also recently made changes to their positions in the stock. Riverview Trust Co acquired a new position in shares of Block during the 1st quarter worth approximately $28,000. LRI Investments LLC acquired a new position in Block during the first quarter valued at approximately $34,000. Creekmur Asset Management LLC bought a new position in shares of Block in the 4th quarter valued at $36,000. Unique Wealth Strategies LLC acquired a new position in Block during the second quarter worth about $34,000. Finally, Migdal Insurance & Financial Holdings Ltd. acquired a new position in Block during the 2nd quarter worth approximately $44,000. Institutional investors and hedge funds own 70.44% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on the company. BMO Capital Markets reduced their price objective on Block from $93.00 to $92.00 and set an “outperform” rating on the stock in a research report on Thursday, October 3rd. William Blair upgraded Block to a “strong-buy” rating in a report on Wednesday, July 31st. Susquehanna restated a “positive” rating and set a $100.00 price target on shares of Block in a report on Wednesday, June 26th. UBS Group reduced their target price on Block from $100.00 to $92.00 and set a “buy” rating for the company in a research note on Tuesday, August 27th. Finally, Keefe, Bruyette & Woods cut their target price on Block from $82.00 to $74.00 and set a “market perform” rating on the stock in a report on Monday, July 8th. One analyst has rated the stock with a sell rating, six have issued a hold rating, twenty-four have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $88.79.

Insider Transactions at Block

In other Block news, CAO Ajmere Dale sold 500 shares of the firm’s stock in a transaction dated Tuesday, August 13th. The stock was sold at an average price of $61.88, for a total value of $30,940.00. Following the sale, the chief accounting officer now owns 92,366 shares of the company’s stock, valued at $5,715,608.08. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. In other news, Director Roelof Botha bought 434,405 shares of the business’s stock in a transaction on Tuesday, August 6th. The stock was acquired at an average price of $57.55 per share, with a total value of $25,000,007.75. Following the completion of the purchase, the director now directly owns 434,405 shares in the company, valued at $25,000,007.75. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CAO Ajmere Dale sold 500 shares of Block stock in a transaction on Tuesday, August 13th. The stock was sold at an average price of $61.88, for a total transaction of $30,940.00. Following the completion of the transaction, the chief accounting officer now owns 92,366 shares in the company, valued at approximately $5,715,608.08. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 25,214 shares of company stock valued at $1,637,932. 10.49% of the stock is currently owned by corporate insiders.

Block Trading Up 2.8 %

Shares of Block stock opened at $71.67 on Tuesday. The company has a debt-to-equity ratio of 0.26, a quick ratio of 1.82 and a current ratio of 1.82. The stock has a market capitalization of $44.12 billion, a P/E ratio of 55.99, a P/E/G ratio of 0.93 and a beta of 2.49. Block, Inc. has a 52-week low of $38.85 and a 52-week high of $87.52. The stock’s 50-day simple moving average is $65.20 and its 200 day simple moving average is $67.34.

Block (NYSE:SQ) last released its quarterly earnings data on Thursday, August 1st. The technology company reported $0.93 earnings per share (EPS) for the quarter, beating 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 company had revenue of $6.16 billion for the quarter, compared to analyst estimates of $6.27 billion. During the same period in the previous year, the company posted $0.40 EPS. The firm’s revenue for the quarter was up 11.2% compared to the same quarter last year. As a group, research analysts anticipate that Block, Inc. will post 1.71 EPS for the current year.

Block Company 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.