Steward Partners Investment Advisory LLC Sells 171 Shares of Block, Inc. (NYSE:SQ) (2024)

Steward Partners Investment Advisory LLC decreased its position in shares of Block, Inc. (NYSE:SQ – Free Report) by 0.9% during the fourth quarter, Holdings Channel.com reports. The institutional investor owned 18,132 shares of the technology company’s stock after selling 171 shares during the quarter. Steward Partners Investment Advisory LLC’s holdings in Block were worth $1,403,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in the company. Clearbridge Investments LLC boosted its position in Block by 10.4% during the third quarter. Clearbridge Investments LLC now owns 1,222,600 shares of the technology company’s stock valued at $54,112,000 after purchasing an additional 115,132 shares in the last quarter. Trivest Advisors Ltd bought a new stake in Block during the fourth quarter valued at about $157,021,000. IFG Advisory LLC bought a new stake in Block during the fourth quarter valued at about $213,000. Canada Pension Plan Investment Board boosted its position in Block by 16.1% during the third quarter. Canada Pension Plan Investment Board now owns 1,373,857 shares of the technology company’s stock valued at $60,807,000 after purchasing an additional 190,400 shares in the last quarter. Finally, CenterBook Partners LP bought a new stake in Block during the third quarter valued at about $359,000. Institutional investors own 70.44% of the company’s stock.

Insider Activity at Block

In related news, insider Brian Grassadonia sold 113,668 shares of the business’s stock in a transaction on Wednesday, May 1st. The stock was sold at an average price of $67.56, for a total value of $7,679,410.08. Following the sale, the insider now owns 603,861 shares in the company, valued at approximately $40,796,849.16. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In related news, insider Brian Grassadonia sold 113,668 shares of the business’s stock in a transaction on 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 completion of the transaction, the insider now directly owns 603,861 shares of the company’s stock, valued at approximately $40,796,849.16. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CAO Ajmere Dale sold 500 shares of the business’s stock in a transaction 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 transaction, 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. In the last 90 days, insiders have sold 247,739 shares of company stock worth $18,584,747. 10.49% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on SQ shares. William Blair reaffirmed a “market perform” rating on shares of Block in a research report on Friday, February 23rd. Evercore ISI reiterated an “in-line” rating and issued a $75.00 price target on shares of Block in a research note on Tuesday, March 26th. Susquehanna reiterated a “positive” rating and issued a $100.00 price target on shares of Block in a research note on Monday, April 22nd. Mizuho increased their price target on Block from $99.00 to $106.00 and gave the company a “buy” rating in a research note on Wednesday, April 10th. Finally, Morgan Stanley reiterated an “underweight” rating and issued a $60.00 price target (down from $62.00) on shares of Block in a research note on Thursday, April 4th. One 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. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $87.59.

Read Our Latest Stock Report on Block

Block Stock Down 1.4 %

Shares of SQ opened at $64.08 on Monday. Block, Inc. has a 12 month low of $38.85 and a 12 month high of $87.52. 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 has a market cap of $39.54 billion, a P/E ratio of 83.22, a PEG ratio of 1.52 and a beta of 2.54. The stock’s 50 day moving average is $73.60 and its two-hundred day moving average is $71.54.

Block (NYSE:SQ – Get Free Report) last posted its quarterly earnings data on Thursday, May 2nd. The technology company reported $0.47 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.15 by $0.32. The firm had revenue of $5.96 billion for the quarter, compared to the consensus estimate of $5.75 billion. Block had a return on equity of 2.04% and a net margin of 2.18%. Analysts predict that Block, Inc. will post 1.26 earnings per share for the current fiscal year.

About Block

(Free Report)

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.

Featured Stories

• Five stocks we like better than Block
• Conference Calls and Individual Investors
• MarketBeat Week in Review – 5/27 – 5/31
• Why is the Ex-Dividend Date Significant to Investors?
• Foot Locker’s Quarter Sends Doubters Running
• 5 discounted opportunities for dividend growth investors
• Costco Wholesale Can Hit New Highs; A Rebound Is Coming

Want to see what other hedge funds are holding SQ? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Block, Inc. (NYSE:SQ – Free Report).

Receive News & Ratings for Block Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Block and related companies with MarketBeat.com's FREE daily email newsletter.