First Hawaiian Bank Sells 584 Shares of Block, Inc. (NYSE:SQ)

First Hawaiian Bank trimmed its stake in shares of Block, Inc. (NYSE:SQ) by 11.7% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 4,421 shares of the technology company’s stock after selling 584 shares during the quarter. First Hawaiian Bank’s holdings in Block were worth $376,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Acadian Asset Management LLC bought a new stake in shares of Block during the 2nd quarter valued at about $443,000. LPL Financial LLC boosted its holdings in shares of Block by 10.1% during the 2nd quarter. LPL Financial LLC now owns 526,501 shares of the technology company’s stock worth $33,954,000 after buying an additional 48,107 shares in the last quarter. Meeder Advisory Services Inc. grew its position in shares of Block by 48.2% during the 2nd quarter. Meeder Advisory Services Inc. now owns 7,266 shares of the technology company’s stock worth $469,000 after buying an additional 2,363 shares during the period. Federated Hermes Inc. increased its stake in shares of Block by 1.8% in the 2nd quarter. Federated Hermes Inc. now owns 196,456 shares of the technology company’s stock valued at $12,669,000 after acquiring an additional 3,479 shares in the last quarter. Finally, Envestnet Asset Management Inc. lifted its position in shares of Block by 5.4% during the 2nd quarter. Envestnet Asset Management Inc. now owns 266,067 shares of the technology company’s stock valued at $17,159,000 after acquiring an additional 13,649 shares during the period. 70.44% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Block

In other Block news, CFO Amrita Ahuja sold 1,502 shares of the stock in a transaction that occurred on Thursday, January 2nd. The shares were sold at an average price of $86.52, for a total value of $129,953.04. Following the sale, the chief financial officer now directly owns 242,199 shares in the company, valued at $20,955,057.48. This represents a 0.62 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Chrysty Esperanza sold 2,964 shares of the business’s stock in a transaction on Monday, November 11th. The shares were sold at an average price of $80.00, for a total transaction of $237,120.00. Following the transaction, the insider now owns 88,607 shares of the company’s stock, valued at $7,088,560. This trade represents a 3.24 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 29,981 shares of company stock valued at $2,681,185 in the last 90 days. 10.49% of the stock is currently owned by company insiders.

Block Stock Performance

NYSE SQ opened at $82.66 on Friday. The firm has a market cap of $51.23 billion, a P/E ratio of 46.44, a price-to-earnings-growth ratio of 1.23 and a beta of 2.51. The company has a quick ratio of 2.07, a current ratio of 2.07 and a debt-to-equity ratio of 0.26. The company’s 50 day moving average is $88.60 and its 200-day moving average is $74.03. Block, Inc. has a 12-month low of $55.00 and a 12-month high of $99.26.

Wall Street Analyst Weigh In

SQ has been the subject of a number of research reports. Raymond James upgraded shares of Block from a “market perform” rating to an “outperform” rating and set a $115.00 price target for the company in a report on Friday, January 3rd. The Goldman Sachs Group boosted their target price on Block from $87.00 to $102.00 and gave the company a “buy” rating in a research report on Monday, December 2nd. Oppenheimer upgraded Block from a “market perform” rating to an “outperform” rating and set a $115.00 price target on the stock in a report on Thursday, December 19th. BNP Paribas downgraded Block from an “outperform” rating to a “neutral” rating and set a $88.00 price objective for the company. in a report on Wednesday, November 20th. Finally, Monness Crespi & Hardt upgraded Block from a “neutral” rating to a “buy” rating and set a $115.00 target price on the stock in a report on Friday, December 13th. One analyst has rated the stock with a sell rating, five have assigned a hold rating and twenty-seven have assigned a buy rating to the company’s stock. According to MarketBeat.com, Block presently has an average rating of “Moderate Buy” and an average target price of $96.77.

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.