Concurrent Investment Advisors LLC Has $399,000 Holdings in Block, Inc. (NYSE:SQ)

Concurrent Investment Advisors LLC boosted its position in shares of Block, Inc. (NYSE:SQ) by 58.1% during the second quarter, HoldingsChannel reports. The institutional investor owned 6,189 shares of the technology company’s stock after purchasing an additional 2,275 shares during the period. Concurrent Investment Advisors LLC’s holdings in Block were worth $399,000 at the end of the most recent reporting period.

Other large investors have also recently bought and sold shares of the company. Bares Capital Management Inc. grew its stake in Block by 2.0% during the fourth quarter. Bares Capital Management Inc. now owns 4,487,251 shares of the technology company’s stock worth $347,089,000 after buying an additional 87,826 shares in the last quarter. Trivest Advisors Ltd acquired a new stake in shares of Block in the 4th quarter valued at approximately $157,021,000. Vanguard Group Inc. grew its holdings in shares of Block by 3.7% during the 4th quarter. Vanguard Group Inc. now owns 36,192,701 shares of the technology company’s stock valued at $2,799,505,000 after purchasing an additional 1,277,043 shares during the last quarter. &PARTNERS grew its holdings in shares of Block by 8.3% during the 1st quarter. &PARTNERS now owns 8,641 shares of the technology company’s stock valued at $731,000 after purchasing an additional 659 shares during the last quarter. Finally, Cibc World Markets Corp bought a new stake in shares of Block during the 4th quarter valued at approximately $1,184,000. 70.44% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on the stock. Susquehanna reaffirmed a “positive” rating and set a $100.00 price target on shares of Block in a report on Wednesday, June 26th. Wells Fargo & Company decreased their price target on shares of Block from $95.00 to $85.00 and set an “overweight” rating on the stock in a report on Friday, August 2nd. Needham & Company LLC decreased their price target on shares of Block from $105.00 to $80.00 and set a “buy” rating on the stock in a report on Monday, August 5th. BMO Capital Markets lifted their price target on shares of Block from $92.00 to $93.00 and gave the company an “outperform” rating in a report on Friday, August 2nd. Finally, Deutsche Bank Aktiengesellschaft lifted their price target on shares of Block from $90.00 to $98.00 and gave the company a “buy” rating in a report on Friday, July 12th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating, twenty-five have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, Block has a consensus rating of “Moderate Buy” and a consensus target price of $87.52.

Block Stock Down 2.8 %

Block stock opened at $64.20 on Wednesday. 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 12-month low of $38.85 and a 12-month high of $87.52. The firm’s fifty day moving average is $64.30 and its 200 day moving average is $69.80. The company has a market capitalization of $39.52 billion, a PE ratio of 83.38, a PEG ratio of 1.16 and a beta of 2.49.

Block (NYSE:SQ) last released its earnings results 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 net margin of 3.47% and a return on equity of 3.77%. The company had revenue of $6.16 billion for the quarter, compared to the consensus estimate of $6.27 billion. During the same quarter in the previous year, the company earned $0.40 EPS. Block’s quarterly revenue was up 11.2% compared to the same quarter last year. As a group, sell-side analysts predict that Block, Inc. will post 1.72 EPS for the current fiscal year.

Insider Activity at Block

In related news, insider Chrysty Esperanza sold 2,500 shares of the business’s stock in a transaction on Monday, July 15th. The shares were sold at an average price of $70.00, for a total transaction of $175,000.00. Following the transaction, the insider now owns 92,048 shares in the company, valued at approximately $6,443,360. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Block news, Director Roelof Botha purchased 434,405 shares of the firm’s stock in a transaction on Tuesday, August 6th. The stock was acquired at an average price of $57.55 per share, for a total transaction of $25,000,007.75. Following the purchase, the director now owns 434,405 shares of the company’s stock, valued at approximately $25,000,007.75. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Chrysty Esperanza sold 2,500 shares of the business’s stock in a transaction on Monday, July 15th. The shares were sold at an average price of $70.00, for a total transaction of $175,000.00. Following the sale, the insider now owns 92,048 shares of the company’s stock, valued at approximately $6,443,360. The disclosure for this sale can be found here. Insiders have sold 28,179 shares of company stock worth $1,833,962 in the last quarter. Company insiders own 10.49% of the company’s stock.

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.