Cwm LLC Acquires 1,090 Shares of Block, Inc. (NYSE:SQ)

Cwm LLC boosted its holdings in Block, Inc. (NYSE:SQ) by 7.0% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 16,670 shares of the technology company’s stock after acquiring an additional 1,090 shares during the quarter. Cwm LLC’s holdings in Block were worth $1,119,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in SQ. Riverview Trust Co bought a new position in shares of Block during the first quarter valued at $28,000. LRI Investments LLC bought a new position in Block during the 1st quarter valued at about $34,000. Unique Wealth Strategies LLC acquired a new position in Block in the second quarter valued at about $34,000. Mather Group LLC. bought a new stake in Block during the first quarter worth about $35,000. Finally, Migdal Insurance & Financial Holdings Ltd. acquired a new stake in shares of Block during the second quarter worth approximately $44,000. Institutional investors and hedge funds own 70.44% of the company’s stock.

Block Stock Up 2.4 %

Shares of Block stock opened at $73.54 on Thursday. Block, Inc. has a 1 year low of $38.85 and a 1 year high of $87.52. 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 $45.38 billion, a P/E ratio of 95.51, a price-to-earnings-growth ratio of 0.93 and a beta of 2.49. The business has a 50-day moving average of $65.79 and a two-hundred day moving average of $67.29.

Block (NYSE:SQ) last announced its earnings results on Thursday, August 1st. The technology company reported $0.93 EPS for the quarter, topping the consensus estimate 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 for the quarter, compared to the consensus estimate of $6.27 billion. During the same period last year, the company posted $0.40 EPS. The business’s quarterly revenue was up 11.2% on a year-over-year basis. As a group, equities analysts predict that Block, Inc. will post 1.71 EPS for the current year.

Insider Buying and Selling

In other news, Director Roelof Botha purchased 434,405 shares of the business’s stock in a transaction dated Tuesday, August 6th. The shares were bought at an average cost of $57.55 per share, for a total transaction of $25,000,007.75. Following the completion of the acquisition, 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 can be accessed through the SEC website. In other news, Director Roelof Botha bought 434,405 shares of the company’s stock in a transaction that occurred on Tuesday, August 6th. The shares were acquired at an average price of $57.55 per share, with a total value of $25,000,007.75. Following the transaction, the director now owns 434,405 shares in the company, valued at $25,000,007.75. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Brian Grassadonia sold 8,328 shares of the business’s stock in a transaction that occurred on Wednesday, August 21st. The shares were sold at an average price of $64.77, for a total value of $539,404.56. Following the completion of the sale, the insider now owns 580,086 shares in the company, valued at $37,572,170.22. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 25,214 shares of company stock valued at $1,637,932. Company insiders own 10.49% of the company’s stock.

Analyst Ratings Changes

SQ has been the topic of several recent analyst reports. Oppenheimer began coverage on Block in a report on Tuesday, October 1st. They issued a “market perform” rating on the stock. New Street Research initiated coverage on Block in a report on Monday, September 9th. They set a “neutral” rating and a $70.00 target price on the stock. Keefe, Bruyette & Woods cut their price target on Block from $82.00 to $74.00 and set a “market perform” rating for the company in a report on Monday, July 8th. William Blair raised shares of Block to a “strong-buy” rating in a report on Wednesday, July 31st. Finally, Benchmark reaffirmed a “buy” rating and issued a $99.00 target price on shares of Block in a research note on Friday, August 2nd. One equities research analyst has rated the stock with a sell rating, six have given a hold rating, twenty-four have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, Block has an average rating of “Moderate Buy” and an average price target of $88.79.

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.