4,324 Shares in Block, Inc. (NYSE:SQ) Acquired by Malaga Cove Capital LLC

Malaga Cove Capital LLC purchased a new stake in Block, Inc. (NYSE:SQ) during the fourth quarter, HoldingsChannel.com reports. The fund purchased 4,324 shares of the technology company’s stock, valued at approximately $334,000.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Valley National Advisers Inc. raised its position in Block by 72.3% in the 4th quarter. Valley National Advisers Inc. now owns 610 shares of the technology company’s stock valued at $47,000 after buying an additional 256 shares during the last quarter. Washington Trust Advisors Inc. boosted its holdings in Block by 38.7% during the fourth quarter. Washington Trust Advisors Inc. now owns 616 shares of the technology company’s stock worth $48,000 after purchasing an additional 172 shares during the last quarter. Front Row Advisors LLC grew 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 in the last quarter. Larson Financial Group LLC increased its stake in Block by 38.4% in the 3rd quarter. Larson Financial Group LLC now owns 728 shares of the technology company’s stock valued at $32,000 after buying an additional 202 shares during the last quarter. Finally, Hexagon Capital Partners LLC lifted its position in Block by 26.8% during the 4th quarter. Hexagon Capital Partners LLC now owns 805 shares of the technology company’s stock worth $62,000 after buying an additional 170 shares in the last quarter. Institutional investors and hedge funds own 70.44% of the company’s stock.

Insider Activity at Block

In related news, CAO Ajmere Dale sold 500 shares of the business’s stock in a transaction dated Monday, April 1st. The stock was sold at an average price of $84.75, for a total value of $42,375.00. Following the completion of the sale, the chief accounting officer now directly owns 68,323 shares of the company’s stock, valued at approximately $5,790,374.25. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In related news, insider Brian Grassadonia sold 127,800 shares of the company’s stock in a transaction dated Tuesday, February 20th. The shares were sold at an average price of $65.45, for a total value of $8,364,510.00. Following the sale, the insider now owns 405,224 shares in the company, valued at approximately $26,521,910.80. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CAO Ajmere Dale sold 500 shares of the business’s stock in a transaction that occurred on Monday, April 1st. The stock was sold at an average price of $84.75, for a total value of $42,375.00. Following the sale, the chief accounting officer now directly owns 68,323 shares of the company’s stock, valued at $5,790,374.25. The disclosure for this sale can be found here. Insiders have sold 477,469 shares of company stock worth $34,963,585 in the last quarter. Company insiders own 10.79% of the company’s stock.

Wall Street Analyst Weigh In

SQ has been the topic of several analyst reports. Truist Financial upped their target price on Block from $90.00 to $100.00 and gave the stock a “buy” rating in a report on Friday, February 23rd. Keefe, Bruyette & Woods increased their price target on shares of Block from $74.00 to $78.00 and gave the company a “market perform” rating in a research note on Friday, February 23rd. KeyCorp boosted their price objective on shares of Block from $80.00 to $95.00 and gave the stock an “overweight” rating in a research note on Wednesday, March 27th. Needham & Company LLC upped their price objective on Block from $95.00 to $105.00 and gave the company a “buy” rating in a research note on Friday. Finally, Wells Fargo & Company upgraded Block from an “equal weight” rating to an “overweight” rating and set a $95.00 target price for the company in a research note on Friday, February 23rd. One analyst has rated the stock with a sell rating, seven have given a hold rating and twenty-seven have given a buy rating to the stock. Based on data from MarketBeat.com, Block currently has a consensus rating of “Moderate Buy” and a consensus price target of $87.42.

Block Trading Down 1.2 %

Shares of NYSE SQ traded down $0.83 during midday trading on Friday, reaching $69.47. The stock had a trading volume of 28,948,341 shares, compared to its average volume of 7,617,495. The company’s 50 day moving average price is $77.82 and its 200 day moving average price is $67.83. The company has a debt-to-equity ratio of 0.22, a quick ratio of 1.90 and a current ratio of 1.90. Block, Inc. has a twelve month low of $38.85 and a twelve month high of $87.52. The firm has a market cap of $42.77 billion, a price-to-earnings ratio of 90.20, a price-to-earnings-growth ratio of 1.94 and a beta of 2.57.

Block (NYSE:SQ) last issued 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. Block had a return on equity of 2.07% and a net margin of 2.18%. The firm had revenue of $5.77 billion during the quarter, compared to the consensus estimate of $5.69 billion. As a group, sell-side analysts expect that Block, Inc. will post 1.11 EPS for the current year.

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.