Migdal Insurance & Financial Holdings Ltd. Acquires 2,491 Shares of Block, Inc. (NYSE:SQ)

Migdal Insurance & Financial Holdings Ltd. grew its holdings in Block, Inc. (NYSE:SQ) by 27,677.8% in the 4th quarter, HoldingsChannel reports. The firm owned 2,500 shares of the technology company’s stock after buying an additional 2,491 shares during the quarter. Migdal Insurance & Financial Holdings Ltd.’s holdings in Block were worth $199,000 as of its most recent SEC filing.

Other large investors have also modified their holdings of the company. Strategic Investment Solutions Inc. IL bought a new stake in shares of Block in the 1st quarter valued at about $31,000. Valley National Advisers Inc. raised its stake in shares of Block by 72.3% during the 4th quarter. Valley National Advisers Inc. now owns 610 shares of the technology company’s stock worth $47,000 after acquiring an additional 256 shares in the last quarter. Washington Trust Advisors Inc. raised its stake in shares of Block by 38.7% during the 4th quarter. Washington Trust Advisors Inc. now owns 616 shares of the technology company’s stock worth $48,000 after acquiring an additional 172 shares in the last quarter. Hexagon Capital Partners LLC raised its stake 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 worth $28,000 after acquiring an additional 300 shares in the last quarter. Finally, Front Row Advisors LLC raised its stake in shares of Block by 67,500.0% during the 3rd quarter. Front Row Advisors LLC now owns 676 shares of the technology company’s stock worth $30,000 after acquiring an additional 675 shares in the last quarter. Institutional investors own 70.44% of the company’s stock.

Block Stock Performance

SQ opened at $72.05 on Friday. The firm has a market capitalization of $44.36 billion, a PE ratio of 432.41, a PEG ratio of 2.18 and a beta of 2.55. Block, Inc. has a twelve month low of $38.85 and a twelve month high of $87.52. The firm’s 50-day moving average price is $76.68 and its 200 day moving average price is $65.85. The company has a current ratio of 1.90, a quick ratio of 1.90 and a debt-to-equity ratio of 0.22.

Block (NYSE:SQ) last posted 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 firm had revenue of $5.77 billion for the quarter, compared to analyst estimates of $5.69 billion. Block had a net margin of 0.04% and a return on equity of 0.63%. As a group, sell-side analysts expect that Block, Inc. will post 1.02 EPS for the current fiscal year.

Analysts Set New Price Targets

SQ has been the subject of several recent analyst reports. Keefe, Bruyette & Woods boosted their price objective on shares of Block from $74.00 to $78.00 and gave the stock a “market perform” rating in a research note on Friday, February 23rd. Monness Crespi & Hardt boosted their price objective on shares of Block from $85.00 to $100.00 and gave the stock a “buy” rating in a research note on Friday, February 23rd. Evercore ISI reiterated an “in-line” rating and set a $75.00 price objective on shares of Block in a research note on Tuesday, March 26th. Wolfe Research boosted their price objective on shares of Block from $95.00 to $100.00 and gave the stock an “outperform” rating in a research note on Thursday, April 11th. Finally, Piper Sandler reissued an “overweight” rating and set a $88.00 target price (up previously from $86.00) on shares of Block in a research report on Friday, February 23rd. One analyst has rated the stock with a sell rating, six have given a hold rating and twenty-seven have issued a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $84.41.

Insider Buying and Selling

In related news, insider Brian Grassadonia sold 4,514 shares of the business’s stock in a transaction dated Wednesday, April 3rd. The shares were sold at an average price of $78.41, for a total transaction of $353,942.74. Following the transaction, the insider now directly owns 477,290 shares in the company, valued at $37,424,308.90. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Block news, insider Brian Grassadonia sold 4,514 shares of the business’s stock in a transaction dated Wednesday, April 3rd. The shares were sold at an average price of $78.41, for a total value of $353,942.74. Following the transaction, the insider now directly owns 477,290 shares in the company, valued at approximately $37,424,308.90. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Amrita Ahuja sold 2,581 shares of the business’s stock in a transaction dated Wednesday, February 21st. The shares were sold at an average price of $64.30, for a total transaction of $165,958.30. Following the completion of the transaction, the chief financial officer now owns 201,754 shares in the company, valued at $12,972,782.20. The disclosure for this sale can be found here. Over the last three months, insiders have sold 363,801 shares of company stock worth $27,284,175. 10.79% of the stock is owned by insiders.

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.