4,182 Shares in Block, Inc. (NYSE:SQ) Bought by Cornerstone Wealth Management LLC

Cornerstone Wealth Management LLC purchased a new stake in shares of Block, Inc. (NYSE:SQ) in the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor purchased 4,182 shares of the technology company’s stock, valued at approximately $281,000.

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

Block Stock Performance

SQ opened at $74.66 on Friday. The company’s 50 day moving average is $66.30 and its 200 day moving average is $67.21. The company has a current ratio of 1.82, a quick ratio of 1.82 and a debt-to-equity ratio of 0.26. The company has a market cap of $45.96 billion, a price-to-earnings ratio of 58.33, a PEG ratio of 0.95 and a beta of 2.49. Block, Inc. has a 12-month low of $38.85 and a 12-month high of $87.52.

Block (NYSE:SQ) last issued 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. 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 last year, the company posted $0.40 EPS. The company’s revenue was up 11.2% compared to the same quarter last year. On average, equities research analysts predict that Block, Inc. will post 1.71 EPS for the current year.

Insider Buying and Selling at Block

In related news, Director Roelof Botha acquired 434,405 shares of the stock in a transaction dated Tuesday, August 6th. The shares were purchased at an average cost of $57.55 per share, with a total value of $25,000,007.75. Following the transaction, the director now directly owns 434,405 shares in the company, valued at approximately $25,000,007.75. The acquisition was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other Block news, CAO Ajmere Dale sold 500 shares of the firm’s stock in a transaction dated Tuesday, August 13th. The stock was sold at an average price of $61.88, for a total transaction of $30,940.00. Following the sale, the chief accounting officer now directly owns 92,366 shares of the company’s stock, valued at $5,715,608.08. 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 available through the SEC website. Also, Director Roelof Botha acquired 434,405 shares of the company’s stock in a transaction dated Tuesday, August 6th. The stock was acquired at an average cost of $57.55 per share, with a total value 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 disclosure for this purchase can be found here. Over the last quarter, insiders sold 25,214 shares of company stock valued at $1,637,932. Company insiders own 10.49% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on SQ shares. Needham & Company LLC reduced their target price on Block from $105.00 to $80.00 and set a “buy” rating on the stock in a report on Monday, August 5th. UBS Group decreased their price objective on Block from $100.00 to $92.00 and set a “buy” rating for the company in a report on Tuesday, August 27th. The Goldman Sachs Group reissued a “buy” rating and set a $80.00 price objective on shares of Block in a research report on Monday, June 24th. Oppenheimer began coverage on shares of Block in a research report on Tuesday, October 1st. They issued a “market perform” rating on the stock. Finally, BMO Capital Markets lowered their price target on shares of Block from $93.00 to $92.00 and set an “outperform” rating for the company in a research report on Thursday, October 3rd. One research analyst has rated the stock with a sell rating, six have given a hold rating, twenty-four have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company 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.