Secure Asset Management LLC Acquires New Position in Block, Inc. (NYSE:SQ)

Secure Asset Management LLC bought a new position in Block, Inc. (NYSE:SQ) during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm bought 3,383 shares of the technology company’s stock, valued at approximately $262,000.

Several other institutional investors and hedge funds have also made changes to their positions in the stock. Hexagon Capital Partners LLC raised its position in shares of Block by 89.6% during the 3rd quarter. Hexagon Capital Partners LLC now owns 635 shares of the technology company’s stock valued at $28,000 after buying an additional 300 shares during the period. Front Row Advisors LLC raised its position in Block by 67,500.0% in the third quarter. Front Row Advisors LLC now owns 676 shares of the technology company’s stock valued at $30,000 after purchasing an additional 675 shares during the period. Strategic Investment Solutions Inc. IL purchased a new position in shares of Block during the 1st quarter worth $31,000. Larson Financial Group LLC increased its position in shares of Block by 38.4% during the 3rd quarter. Larson Financial Group LLC now owns 728 shares of the technology company’s stock worth $32,000 after purchasing an additional 202 shares during the last quarter. Finally, Industrial Alliance Investment Management Inc. acquired a new position in Block in the second quarter valued at about $40,000. 70.44% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Block

In other Block news, insider Brian Grassadonia sold 111,914 shares of the stock in a transaction on Monday, March 4th. The shares were sold at an average price of $78.17, for a total value of $8,748,317.38. Following the completion of the sale, the insider now directly owns 443,979 shares of the company’s stock, valued at approximately $34,705,838.43. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. In related news, insider Brian Grassadonia sold 111,914 shares of the stock in a transaction dated Monday, March 4th. The shares were sold at an average price of $78.17, for a total value of $8,748,317.38. Following the completion of the transaction, the insider now owns 443,979 shares of the company’s stock, valued at $34,705,838.43. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CAO Ajmere Dale sold 656 shares of the company’s stock in a transaction that occurred on Wednesday, February 21st. The shares were sold at an average price of $64.30, for a total value of $42,180.80. Following the completion of the sale, the chief accounting officer now owns 68,823 shares in the company, valued at $4,425,318.90. The disclosure for this sale can be found here. Insiders have sold 258,056 shares of company stock valued at $18,407,064 in the last 90 days. 10.79% of the stock is currently owned by insiders.

Block Price Performance

Shares of NYSE:SQ opened at $84.58 on Monday. The company has a quick ratio of 1.90, a current ratio of 1.90 and a debt-to-equity ratio of 0.22. The firm has a 50-day simple moving average of $73.72 and a 200 day simple moving average of $63.13. Block, Inc. has a fifty-two week low of $38.85 and a fifty-two week high of $87.52. The company has a market cap of $52.08 billion, a PE ratio of 497.53, a P/E/G ratio of 2.49 and a beta of 2.55.

Block (NYSE:SQ) last announced its quarterly earnings results on Thursday, February 22nd. The technology company reported $0.03 earnings per share for the quarter, topping analysts’ consensus estimates of $0.02 by $0.01. The business had revenue of $5.77 billion for the quarter, compared to analysts’ expectations of $5.69 billion. Block had a return on equity of 0.63% and a net margin of 0.04%. On average, sell-side analysts anticipate that Block, Inc. will post 1.03 EPS for the current year.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on the stock. Monness Crespi & Hardt upped their price objective on shares of Block from $85.00 to $100.00 and gave the stock a “buy” rating in a report on Friday, February 23rd. BMO Capital Markets reissued an “outperform” rating and set a $84.00 target price (down previously from $93.00) on shares of Block in a research note on Tuesday, December 5th. Mizuho reiterated a “buy” rating and set a $99.00 price target on shares of Block in a research note on Wednesday, March 27th. Benchmark started coverage on shares of Block in a report on Tuesday, February 13th. They set a “buy” rating and a $89.00 target price on the stock. Finally, Royal Bank of Canada boosted their price target on shares of Block from $77.00 to $88.00 and gave the stock an “outperform” rating in a research note on Friday, February 23rd. Seven research analysts have rated the stock with a hold rating and twenty-six have given a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $83.69.

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.