B. Riley Wealth Advisors Inc. Has $821,000 Stake in Block, Inc. (NYSE:SQ)

B. Riley Wealth Advisors Inc. reduced its stake in shares of Block, Inc. (NYSE:SQ) by 7.9% during the 2nd quarter, according to its most recent 13F filing with the SEC. The firm owned 12,732 shares of the technology company’s stock after selling 1,095 shares during the period. B. Riley Wealth Advisors Inc.’s holdings in Block were worth $821,000 as of its most recent filing with the SEC.

Several other institutional investors have also added to or reduced their stakes in the stock. Baillie Gifford & Co. raised its position in shares of Block by 45.7% in the second quarter. Baillie Gifford & Co. now owns 10,085,229 shares of the technology company’s stock valued at $650,396,000 after purchasing an additional 3,163,975 shares during the period. Lone Pine Capital LLC lifted its holdings in Block by 70.0% during the 4th quarter. Lone Pine Capital LLC now owns 6,606,269 shares of the technology company’s stock worth $510,995,000 after purchasing an additional 2,720,123 shares during the last quarter. Vanguard Group Inc. boosted its stake in Block by 3.7% in 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 period. Gladstone Capital Management LLP grew its holdings in Block by 244.1% in the 4th quarter. Gladstone Capital Management LLP now owns 1,706,691 shares of the technology company’s stock valued at $132,013,000 after buying an additional 1,210,758 shares in the last quarter. Finally, D1 Capital Partners L.P. increased its position in Block by 76.7% during the 2nd quarter. D1 Capital Partners L.P. now owns 1,831,342 shares of the technology company’s stock worth $118,103,000 after buying an additional 795,000 shares during the period. 70.44% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other news, CFO Amrita Ahuja sold 5,935 shares of the firm’s stock in a transaction on Wednesday, October 2nd. The shares were sold at an average price of $65.53, for a total transaction of $388,920.55. Following the completion of the transaction, the chief financial officer now owns 255,496 shares of the company’s stock, valued at approximately $16,742,652.88. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, insider Chrysty Esperanza sold 2,500 shares of the company’s stock in a transaction that occurred on Monday, July 15th. The stock was sold at an average price of $70.00, for a total value of $175,000.00. Following the sale, the insider now directly owns 92,048 shares in the company, valued at $6,443,360. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CFO Amrita Ahuja sold 5,935 shares of the firm’s stock in a transaction that occurred on Wednesday, October 2nd. The stock was sold at an average price of $65.53, for a total transaction of $388,920.55. Following the transaction, the chief financial officer now owns 255,496 shares of the company’s stock, valued at approximately $16,742,652.88. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 28,861 shares of company stock valued at $1,889,288 in the last ninety days. 10.49% of the stock is currently owned by insiders.

Block Trading Up 2.1 %

Shares of SQ stock opened at $67.02 on Friday. Block, Inc. has a twelve month low of $38.85 and a twelve month high of $87.52. The stock’s fifty day simple moving average is $64.13 and its 200 day simple moving average is $68.11. The company has a quick ratio of 1.82, a current ratio of 1.82 and a debt-to-equity ratio of 0.26. The firm has a market capitalization of $41.35 billion, a P/E ratio of 87.04, a P/E/G ratio of 1.17 and a beta of 2.49.

Block (NYSE:SQ) last released its quarterly earnings results on Thursday, August 1st. The technology company reported $0.93 earnings per share for the quarter, topping the consensus estimate of $0.84 by $0.09. The company had revenue of $6.16 billion for the quarter, compared to analysts’ expectations of $6.27 billion. Block had a return on equity of 3.77% and a net margin of 3.47%. The business’s quarterly revenue was up 11.2% compared to the same quarter last year. During the same period in the previous year, the business posted $0.40 earnings per share. As a group, sell-side analysts predict that Block, Inc. will post 1.72 EPS for the current fiscal year.

Analyst Ratings Changes

SQ has been the subject of a number of recent research reports. Benchmark reissued a “buy” rating and issued a $99.00 target price on shares of Block in a research report on Friday, August 2nd. Macquarie reissued an “outperform” rating and issued a $100.00 price objective on shares of Block in a report on Friday, July 26th. BMO Capital Markets lowered their target price on shares of Block from $93.00 to $92.00 and set an “outperform” rating on the stock in a report on Thursday. Royal Bank of Canada reiterated an “outperform” rating and issued a $88.00 price target on shares of Block in a research report on Friday, August 2nd. Finally, The Goldman Sachs Group reissued a “buy” rating and set a $80.00 price target on shares of Block in a research report on Monday, June 24th. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating, twenty-four have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, Block has an average rating of “Moderate Buy” and a consensus price target of $87.31.

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.