Insight Holdings Group LLC Acquires Shares of 15,200 Block, Inc. (NYSE:SQ)

Insight Holdings Group LLC acquired a new stake in shares of Block, Inc. (NYSE:SQ) during the 4th quarter, according to its most recent disclosure with the SEC. The fund acquired 15,200 shares of the technology company’s stock, valued at approximately $1,176,000.

Other large investors have also bought and sold shares of the company. Hexagon Capital Partners LLC boosted its position in shares of Block by 26.8% in the 4th quarter. Hexagon Capital Partners LLC now owns 805 shares of the technology company’s stock worth $62,000 after purchasing an additional 170 shares in the last quarter. Washington Trust Advisors Inc. boosted its position in shares of Block by 38.7% in the 4th quarter. Washington Trust Advisors Inc. now owns 616 shares of the technology company’s stock worth $48,000 after purchasing an additional 172 shares in the last quarter. Dynamic Advisor Solutions LLC boosted its position in shares of Block by 2.9% in the 4th quarter. Dynamic Advisor Solutions LLC now owns 6,328 shares of the technology company’s stock worth $489,000 after purchasing an additional 180 shares in the last quarter. WP Advisors LLC raised its holdings in Block by 3.9% in the 4th quarter. WP Advisors LLC now owns 5,381 shares of the technology company’s stock worth $416,000 after acquiring an additional 200 shares during the last quarter. Finally, Larson Financial Group LLC raised its holdings in Block by 38.4% in the 3rd quarter. Larson Financial Group LLC now owns 728 shares of the technology company’s stock worth $32,000 after acquiring an additional 202 shares during the last quarter. 70.44% of the stock is owned by institutional investors.

Block Price Performance

Block stock traded down $0.28 during mid-day trading on Friday, hitting $66.34. The stock had a trading volume of 6,857,107 shares, compared to its average volume of 9,377,736. The firm has a market capitalization of $40.93 billion, a P/E ratio of 86.16, a P/E/G ratio of 1.58 and a beta of 2.57. The company has a current ratio of 1.64, a quick ratio of 1.64 and a debt-to-equity ratio of 0.16. The firm’s 50 day moving average is $75.19 and its 200 day moving average is $70.98. Block, Inc. has a one year low of $38.85 and a one year high of $87.52.

Block (NYSE:SQ) last issued its earnings results on Thursday, May 2nd. The technology company reported $0.47 earnings per share for the quarter, topping the consensus estimate of $0.15 by $0.32. Block had a net margin of 2.18% and a return on equity of 2.04%. The company had revenue of $5.96 billion during the quarter, compared to the consensus estimate of $5.75 billion. On average, sell-side analysts forecast that Block, Inc. will post 1.26 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

SQ has been the subject of a number of recent analyst reports. Seaport Res Ptn upgraded shares of Block from a “neutral” rating to a “buy” rating in a report on Friday, February 23rd. Royal Bank of Canada boosted their price objective on shares of Block from $77.00 to $88.00 and gave the stock an “outperform” rating in a report on Friday, February 23rd. BTIG Research upgraded shares of Block from a “neutral” rating to a “buy” rating and set a $85.00 price objective for the company in a report on Tuesday, January 30th. Truist Financial boosted their price objective on shares of Block from $90.00 to $100.00 and gave the stock a “buy” rating in a report on Friday, February 23rd. Finally, Robert W. Baird boosted their target price on shares of Block from $98.00 to $100.00 and gave the company an “outperform” rating in a research note on Friday, May 3rd. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and twenty-seven have assigned a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $87.59.

Insider Buying and Selling at Block

In other Block 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 transaction 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 approximately $34,705,838.43. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, CAO Ajmere Dale sold 500 shares of the company’s stock in a transaction dated Monday, April 1st. The shares were sold at an average price of $84.75, for a total transaction of $42,375.00. Following the sale, the chief accounting officer now directly owns 68,323 shares in the company, valued at approximately $5,790,374.25. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Brian Grassadonia sold 111,914 shares of the company’s stock in a transaction dated Monday, March 4th. The shares were sold at an average price of $78.17, for a total transaction of $8,748,317.38. Following the sale, the insider now owns 443,979 shares in the company, valued at $34,705,838.43. The disclosure for this sale can be found here. Insiders sold 359,653 shares of company stock valued at $27,333,065 in the last 90 days. Insiders own 10.49% of the company’s stock.

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.