Sigma Planning Corp cut its position in shares of Block, Inc. (NYSE:SQ – Get Rating) by 12.6% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 20,600 shares of the technology company’s stock after selling 2,969 shares during the period. Sigma Planning Corp’s holdings in Block were worth $1,295,000 at the end of the most recent reporting period.
A number of other large investors have also modified their holdings of the company. Tiger Global Management LLC boosted its position in shares of Block by 299.9% during the 3rd quarter. Tiger Global Management LLC now owns 3,799,271 shares of the technology company’s stock valued at $208,922,000 after acquiring an additional 2,849,243 shares in the last quarter. Renaissance Technologies LLC lifted its stake in Block by 59.7% during the third quarter. Renaissance Technologies LLC now owns 4,098,462 shares of the technology company’s stock worth $225,374,000 after purchasing an additional 1,531,462 shares during the period. Vanguard Group Inc. boosted its holdings in Block by 3.8% during the third quarter. Vanguard Group Inc. now owns 33,781,540 shares of the technology company’s stock valued at $1,857,647,000 after purchasing an additional 1,236,425 shares in the last quarter. Assenagon Asset Management S.A. grew its stake in shares of Block by 2,858.9% in the 3rd quarter. Assenagon Asset Management S.A. now owns 1,137,734 shares of the technology company’s stock valued at $62,564,000 after purchasing an additional 1,099,283 shares during the period. Finally, Contour Asset Management LLC raised its holdings in shares of Block by 136.7% in the 2nd quarter. Contour Asset Management LLC now owns 1,267,755 shares of the technology company’s stock worth $77,916,000 after buying an additional 732,246 shares in the last quarter. 59.49% of the stock is currently owned by institutional investors and hedge funds.
Analyst Ratings Changes
Several analysts recently commented on SQ shares. Mizuho raised Block from a “neutral” rating to a “buy” rating and boosted their price target for the company from $80.00 to $93.00 in a research note on Thursday, March 16th. UBS Group lowered their target price on shares of Block from $104.00 to $100.00 and set a “buy” rating on the stock in a report on Thursday, December 15th. Wolfe Research lifted their price target on shares of Block from $80.00 to $95.00 and gave the company an “outperform” rating in a report on Friday, February 24th. BMO Capital Markets decreased their price objective on shares of Block from $108.00 to $101.00 and set an “outperform” rating on the stock in a research note on Monday, February 27th. Finally, Truist Financial raised their price objective on shares of Block from $85.00 to $105.00 and gave the stock a “buy” rating in a report on Friday, January 20th. Three research analysts have rated the stock with a sell rating, five have given a hold rating and twenty-two have assigned a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $105.81.
Block Trading Down 1.7 %
Block (NYSE:SQ – Get Rating) last announced its quarterly earnings results on Thursday, February 23rd. The technology company reported ($0.23) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.16) by ($0.07). The firm had revenue of $4.65 billion during the quarter, compared to analyst estimates of $4.53 billion. Block had a negative net margin of 3.11% and a negative return on equity of 2.28%. Equities analysts expect that Block, Inc. will post -0.07 EPS for the current year.
Insider Transactions at Block
In other Block news, insider Alyssa Henry sold 30,769 shares of Block stock in a transaction dated Wednesday, January 11th. The stock was sold at an average price of $70.66, for a total transaction of $2,174,137.54. Following the transaction, the insider now directly owns 418,667 shares in the company, valued at $29,583,010.22. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other news, CFO Amrita Ahuja sold 19,750 shares of the stock in a transaction on Thursday, February 2nd. The shares were sold at an average price of $88.05, for a total transaction of $1,738,987.50. Following the completion of the sale, the chief financial officer now owns 138,152 shares of the company’s stock, valued at $12,164,283.60. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Alyssa Henry sold 30,769 shares of the business’s stock in a transaction on Wednesday, January 11th. The shares were sold at an average price of $70.66, for a total transaction of $2,174,137.54. Following the completion of the sale, the insider now directly owns 418,667 shares in the company, valued at $29,583,010.22. The disclosure for this sale can be found here. Insiders have sold a total of 307,111 shares of company stock valued at $23,074,313 over the last three months. 11.52% of the stock is currently owned by corporate insiders.
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.
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