Block, Inc. (NYSE:SQ) Shares Sold by Bokf Na

Bokf Na decreased its position in shares of Block, Inc. (NYSE:SQ) by 9.6% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,993 shares of the technology company’s stock after selling 212 shares during the quarter. Bokf Na’s holdings in Block were worth $129,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in SQ. Riverview Trust Co acquired a new stake in Block in the 1st quarter valued at $28,000. Tidemark LLC acquired a new stake in Block in the 4th quarter valued at $32,000. YHB Investment Advisors Inc. acquired a new stake in Block in the 1st quarter valued at $33,000. Vima LLC acquired a new stake in Block in the 4th quarter valued at $34,000. Finally, LRI Investments LLC acquired a new stake in Block in the 1st quarter valued at $34,000. Institutional investors and hedge funds own 70.44% of the company’s stock.

Wall Street Analyst Weigh In

SQ has been the topic of a number of research analyst reports. Royal Bank of Canada reissued an “outperform” rating and issued a $88.00 price target on shares of Block in a research note on Friday, August 2nd. Wells Fargo & Company decreased their price objective on Block from $95.00 to $85.00 and set an “overweight” rating on the stock in a report on Friday, August 2nd. Susquehanna restated a “positive” rating and issued a $100.00 price objective on shares of Block in a report on Wednesday, June 26th. Benchmark restated a “buy” rating and issued a $99.00 price objective on shares of Block in a report on Friday, August 2nd. Finally, Macquarie restated an “outperform” rating and issued a $100.00 price objective on shares of Block in a report on Friday, July 26th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating, twenty-four have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $87.34.

Insider Transactions at Block

In other news, CAO Ajmere Dale sold 471 shares of the business’s stock in a transaction dated Tuesday, July 2nd. The stock was sold at an average price of $64.37, for a total transaction of $30,318.27. Following the completion of the transaction, the chief accounting officer now directly owns 92,866 shares of the company’s stock, valued at $5,977,784.42. The sale was disclosed in a filing with the SEC, which is accessible through this link. In other news, CAO Ajmere Dale sold 471 shares of the business’s stock in a transaction dated Tuesday, July 2nd. The stock was sold at an average price of $64.37, for a total transaction of $30,318.27. Following the completion of the transaction, the chief accounting officer now directly owns 92,866 shares of the company’s stock, valued at $5,977,784.42. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, CFO Amrita Ahuja sold 6,661 shares of the business’s stock in a transaction dated Wednesday, August 21st. The stock was sold at an average price of $64.70, for a total value of $430,966.70. Following the transaction, the chief financial officer now directly owns 264,697 shares of the company’s stock, valued at $17,125,895.90. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 28,179 shares of company stock valued at $1,833,962. 10.49% of the stock is currently owned by corporate insiders.

Block Stock Performance

NYSE SQ opened at $67.33 on Wednesday. The company has a market cap of $41.54 billion, a P/E ratio of 87.44, a P/E/G ratio of 1.11 and a beta of 2.49. 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 stock has a 50-day moving average of $64.18 and a two-hundred day moving average of $69.13. Block, Inc. has a 1-year low of $38.85 and a 1-year high of $87.52.

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