Signaturefd LLC Sells 1,032 Shares of Block, Inc. (NYSE:SQ)

Signaturefd LLC lowered its holdings in Block, Inc. (NYSE:SQ) by 13.1% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 6,825 shares of the technology company’s stock after selling 1,032 shares during the period. Signaturefd LLC’s holdings in Block were worth $458,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently modified their holdings of the business. Wealthcare Advisory Partners LLC raised its position in shares of Block by 1.3% in the first quarter. Wealthcare Advisory Partners LLC now owns 10,618 shares of the technology company’s stock valued at $898,000 after purchasing an additional 139 shares during the period. Financial Perspectives Inc raised its position in shares of Block by 7.2% in the first quarter. Financial Perspectives Inc now owns 2,300 shares of the technology company’s stock valued at $195,000 after purchasing an additional 155 shares during the period. Valley National Advisers Inc. raised its position in shares of Block by 25.4% in the first quarter. Valley National Advisers Inc. now owns 765 shares of the technology company’s stock valued at $64,000 after purchasing an additional 155 shares during the period. CAP Partners LLC raised its position in shares of Block by 3.5% in the first quarter. CAP Partners LLC now owns 4,765 shares of the technology company’s stock valued at $403,000 after purchasing an additional 163 shares during the period. Finally, Jamison Private Wealth Management Inc. raised its position in shares of Block by 1.9% in the second quarter. Jamison Private Wealth Management Inc. now owns 8,973 shares of the technology company’s stock valued at $579,000 after purchasing an additional 165 shares during the period. Institutional investors own 70.44% of the company’s stock.

Block Trading Up 0.1 %

Shares of SQ opened at $72.61 on Friday. The firm’s 50-day moving average price is $67.09 and its 200-day moving average price is $67.15. The firm has a market capitalization of $44.80 billion, a price-to-earnings ratio of 94.30, a PEG ratio of 0.99 and a beta of 2.49. The company has a current ratio of 1.82, a quick ratio of 1.82 and a debt-to-equity ratio of 0.26. Block, Inc. has a 1-year low of $38.85 and a 1-year 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 (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 during the quarter, compared to analysts’ expectations of $6.27 billion. During the same period last year, the company posted $0.40 EPS. Block’s revenue was up 11.2% on a year-over-year basis. Sell-side analysts anticipate that Block, Inc. will post 1.71 EPS for the current year.

Insider Activity at Block

In other Block news, Director Roelof Botha purchased 434,405 shares of the stock in a transaction that occurred on Tuesday, August 6th. The stock was bought 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 transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other Block news, CFO Amrita Ahuja sold 5,935 shares of Block stock in a transaction dated Wednesday, October 2nd. The shares were sold at an average price of $65.53, for a total value of $388,920.55. Following the completion of the transaction, the chief financial officer now directly 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 ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Roelof Botha bought 434,405 shares of the firm’s stock in a transaction on Tuesday, August 6th. The stock was purchased at an average cost of $57.55 per share, with a total value of $25,000,007.75. Following the completion of the acquisition, the director now directly 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. Insiders sold a total of 25,214 shares of company stock valued at $1,637,932 in the last three months. Company insiders own 10.49% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have recently issued reports on SQ shares. William Blair raised shares of Block to a “strong-buy” rating in a research report on Wednesday, July 31st. Macquarie reiterated an “outperform” rating and issued a $100.00 target price on shares of Block in a research note 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 research note on Thursday, October 3rd. Deutsche Bank Aktiengesellschaft increased their target price on shares of Block from $90.00 to $98.00 and gave the stock a “buy” rating in a research note on Friday, July 12th. Finally, UBS Group lowered their target price on shares of Block from $100.00 to $92.00 and set a “buy” rating on the stock in a research note on Tuesday, August 27th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating, twenty-four have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, Block presently has an average rating of “Moderate Buy” and an average price target of $88.79.

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.