MBB Public Markets I LLC Purchases New Shares in Block, Inc. (NYSE:SQ)

MBB Public Markets I LLC acquired a new position in shares of Block, Inc. (NYSE:SQ) during the 2nd quarter, Holdings Channel reports. The firm acquired 39,880 shares of the technology company’s stock, valued at approximately $2,572,000.

Other large investors have also recently added to or reduced their stakes in the company. Gilbert & Cook Inc. increased its position in Block by 8.1% during the fourth quarter. Gilbert & Cook Inc. now owns 9,567 shares of the technology company’s stock worth $740,000 after acquiring an additional 714 shares during the period. Orion Portfolio Solutions LLC increased its holdings in shares of Block by 49.0% during the fourth quarter. Orion Portfolio Solutions LLC now owns 7,930 shares of the technology company’s stock worth $613,000 after purchasing an additional 2,607 shares during the period. TD Asset Management Inc raised its position in shares of Block by 18.6% in the fourth quarter. TD Asset Management Inc now owns 135,089 shares of the technology company’s stock valued at $10,449,000 after buying an additional 21,154 shares in the last quarter. Focus Financial Network Inc. ADV bought a new stake in shares of Block in the fourth quarter valued at approximately $833,000. Finally, Avestar Capital LLC acquired a new stake in Block during the fourth quarter worth approximately $263,000. Institutional investors own 70.44% of the company’s stock.

Insider Activity at Block

In related news, insider Brian Grassadonia sold 1,889 shares of the firm’s stock in a transaction that occurred on Tuesday, July 2nd. The stock was sold at an average price of $64.37, for a total transaction of $121,594.93. Following the completion of the sale, the insider now owns 590,761 shares of the company’s stock, valued at $38,027,285.57. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, insider Brian Grassadonia sold 1,889 shares of the stock in a transaction on Tuesday, July 2nd. The shares were sold at an average price of $64.37, for a total transaction of $121,594.93. Following the transaction, the insider now directly owns 590,761 shares of the company’s stock, valued at $38,027,285.57. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CAO Ajmere Dale sold 471 shares of the firm’s stock in a transaction on 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 sale, the chief accounting officer now owns 92,866 shares of the company’s stock, valued at $5,977,784.42. The disclosure for this sale can be found here. Insiders have sold a total of 28,179 shares of company stock worth $1,833,962 in the last 90 days. Corporate insiders own 10.49% of the company’s stock.

Block Trading Up 0.7 %

NYSE:SQ opened at $66.97 on Friday. Block, Inc. has a 52 week low of $38.85 and a 52 week high of $87.52. 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 firm’s fifty day moving average is $63.88 and its 200-day moving average is $68.66. The firm has a market cap of $41.23 billion, a P/E ratio of 86.98, a P/E/G ratio of 1.18 and a beta of 2.49.

Block (NYSE:SQ) last issued its quarterly earnings results on Thursday, August 1st. The technology company reported $0.93 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 business had revenue of $6.16 billion for the quarter, compared to analysts’ expectations of $6.27 billion. During the same quarter in the prior year, the firm posted $0.40 earnings per share. The business’s quarterly revenue was up 11.2% compared to the same quarter last year. Equities analysts expect that Block, Inc. will post 1.72 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several analysts have recently issued reports on the company. Wells Fargo & Company reduced their target price on Block from $95.00 to $85.00 and set an “overweight” rating on the stock in a report on Friday, August 2nd. Morgan Stanley dropped their target price on shares of Block from $60.00 to $55.00 and set an “underweight” rating for the company in a research report on Tuesday, July 30th. Benchmark reiterated a “buy” rating and set a $99.00 price target on shares of Block in a research report on Friday, August 2nd. Keefe, Bruyette & Woods lowered their price objective on shares of Block from $82.00 to $74.00 and set a “market perform” rating for the company in a research report on Monday, July 8th. Finally, Royal Bank of Canada reaffirmed an “outperform” rating and issued a $88.00 target price on shares of Block in a report on Friday, August 2nd. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating, twenty-four have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $87.34.

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.