Axxcess Wealth Management LLC Raises Position in Block, Inc. (NYSE:SQ)

Axxcess Wealth Management LLC grew its holdings in shares of Block, Inc. (NYSE:SQ) by 31.8% in the 4th quarter, HoldingsChannel.com reports. The firm owned 14,217 shares of the technology company’s stock after purchasing an additional 3,429 shares during the quarter. Axxcess Wealth Management LLC’s holdings in Block were worth $1,100,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently made changes to their positions in SQ. Front Row Advisors LLC raised its stake in Block by 67,500.0% in 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 during the last quarter. Larson Financial Group LLC grew its position in 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 period. Headinvest LLC purchased a new position in shares of Block during the 3rd quarter valued at about $44,000. CNB Bank raised its stake in shares of Block by 40.2% during the 3rd quarter. CNB Bank now owns 1,046 shares of the technology company’s stock valued at $46,000 after buying an additional 300 shares during the last quarter. Finally, 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 valued at $47,000 after buying an additional 256 shares during the last quarter. Hedge funds and other institutional investors own 70.44% of the company’s stock.

Insiders Place Their Bets

In other Block news, insider Brian Grassadonia sold 113,668 shares of the business’s stock in a transaction on Wednesday, May 1st. The shares were sold at an average price of $67.56, for a total value of $7,679,410.08. Following the completion of the transaction, the insider now owns 603,861 shares in the company, valued at $40,796,849.16. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other Block news, CAO Ajmere Dale sold 656 shares of the company’s stock in a transaction 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 transaction, the chief accounting officer now owns 68,823 shares in the company, valued at $4,425,318.90. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Brian Grassadonia sold 113,668 shares of the stock in a transaction dated Wednesday, May 1st. The stock was sold at an average price of $67.56, for a total transaction of $7,679,410.08. Following the sale, the insider now owns 603,861 shares of the company’s stock, valued at approximately $40,796,849.16. The disclosure for this sale can be found here. Insiders sold a total of 477,469 shares of company stock worth $34,963,585 over the last 90 days. Corporate insiders own 10.79% of the company’s stock.

Analyst Upgrades and Downgrades

SQ has been the subject of a number of recent research reports. Seaport Res Ptn upgraded Block from a “neutral” rating to a “buy” rating in a research note on Friday, February 23rd. Piper Sandler restated an “overweight” rating and issued a $88.00 price target (up previously from $86.00) on shares of Block in a research note on Friday, February 23rd. Wells Fargo & Company upgraded Block from an “equal weight” rating to an “overweight” rating and set a $95.00 price target for the company in a research note on Friday, February 23rd. Citigroup boosted their price objective on Block from $76.00 to $86.00 and gave the stock a “buy” rating in a research note on Monday, February 26th. Finally, Mizuho boosted their price objective on Block from $99.00 to $106.00 and gave the stock a “buy” rating in a research note on Wednesday, April 10th. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and twenty-seven have given a buy rating to the company’s stock. According to MarketBeat.com, Block currently has a consensus rating of “Moderate Buy” and an average target price of $87.42.

Block Stock Up 0.6 %

Shares of NYSE SQ opened at $69.86 on Monday. The firm has a market cap of $43.01 billion, a price-to-earnings ratio of 90.22, a PEG ratio of 1.66 and a beta of 2.57. The company has a quick ratio of 1.90, a current ratio of 1.90 and a debt-to-equity ratio of 0.22. Block, Inc. has a 52-week low of $38.85 and a 52-week high of $87.52. The business’s 50 day moving average is $77.63 and its two-hundred day moving average is $68.33.

Block (NYSE:SQ) last posted its quarterly earnings results on Thursday, February 22nd. The technology company reported $0.03 EPS for the quarter, topping the consensus estimate of $0.02 by $0.01. The business had revenue of $5.77 billion during the quarter, compared to the consensus estimate of $5.69 billion. Block had a net margin of 2.18% and a return on equity of 2.07%. Research analysts predict that Block, Inc. will post 1.29 EPS for the current year.

Block Company 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.