Allspring Global Investments Holdings LLC Has $964,000 Stock Holdings in Block, Inc. (NYSE:SQ)

Allspring Global Investments Holdings LLC raised its position in Block, Inc. (NYSE:SQ) by 11,653.8% during the fourth quarter, according to its most recent filing with the SEC. The firm owned 12,459 shares of the technology company’s stock after purchasing an additional 12,353 shares during the period. Allspring Global Investments Holdings LLC’s holdings in Block were worth $964,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. Washington Trust Advisors Inc. lifted 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 during the period. Dynamic Advisor Solutions LLC lifted 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 during the period. Larson Financial Group LLC lifted its position in shares of Block by 38.4% during the 3rd quarter. Larson Financial Group LLC now owns 728 shares of the technology company’s stock valued at $32,000 after acquiring an additional 202 shares during the period. Diversified Trust Co lifted its position in shares of Block by 0.4% during the 4th quarter. Diversified Trust Co now owns 57,232 shares of the technology company’s stock valued at $4,427,000 after acquiring an additional 209 shares during the period. Finally, Oppenheimer & Co. Inc. lifted its position in shares of Block by 1.1% during the 3rd quarter. Oppenheimer & Co. Inc. now owns 18,753 shares of the technology company’s stock valued at $830,000 after acquiring an additional 211 shares during the period. Institutional investors and hedge funds own 70.44% of the company’s stock.

Block Price Performance

Shares of NYSE:SQ opened at $75.21 on Wednesday. The company has a market capitalization of $46.31 billion, a P/E ratio of 414.23, a price-to-earnings-growth ratio of 2.08 and a beta of 2.55. Block, Inc. has a fifty-two week low of $38.85 and a fifty-two week high of $87.52. The company has a debt-to-equity ratio of 0.22, a quick ratio of 1.90 and a current ratio of 1.90. The company’s 50-day moving average is $77.01 and its 200 day moving average is $66.81.

Block (NYSE:SQ) last released its quarterly earnings data on Thursday, February 22nd. The technology company reported $0.03 EPS for the quarter, beating the consensus estimate of $0.02 by $0.01. Block had a net margin of 0.04% and a return on equity of 0.63%. The business had revenue of $5.77 billion for the quarter, compared to the consensus estimate of $5.69 billion. On average, equities research analysts forecast that Block, Inc. will post 1.02 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of research firms recently issued reports on SQ. Citigroup boosted their target price on shares of Block from $76.00 to $86.00 and gave the company a “buy” rating in a research report on Monday, February 26th. Benchmark boosted their price target on shares of Block from $89.00 to $99.00 and gave the company a “buy” rating in a research note on Thursday, April 4th. Canaccord Genuity Group boosted their price target on shares of Block from $80.00 to $95.00 and gave the company a “buy” rating in a research note on Monday, February 26th. William Blair restated a “market perform” rating on shares of Block in a research note on Friday, February 23rd. Finally, Mizuho boosted their price target on shares of Block from $99.00 to $106.00 and gave the company a “buy” rating in a research note on Wednesday, April 10th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and twenty-eight have given a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $85.67.

Insider Transactions at Block

In other news, CAO Ajmere Dale sold 656 shares of the stock in a transaction dated Wednesday, February 21st. The shares were sold at an average price of $64.30, for a total value of $42,180.80. Following the sale, the chief accounting officer now directly owns 68,823 shares of the company’s stock, valued at $4,425,318.90. The sale was disclosed in a legal filing with the SEC, which is available at this link. In other news, CAO Ajmere Dale sold 656 shares of the stock in a transaction dated Wednesday, February 21st. The shares were sold at an average price of $64.30, for a total value of $42,180.80. Following the sale, the chief accounting officer now directly owns 68,823 shares of the company’s stock, valued at $4,425,318.90. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Brian Grassadonia sold 127,800 shares of the company’s stock in a transaction that occurred on Tuesday, February 20th. The stock was sold at an average price of $65.45, for a total transaction of $8,364,510.00. Following the completion of the transaction, the insider now owns 405,224 shares in the company, valued at $26,521,910.80. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 363,801 shares of company stock valued at $27,284,175. 10.79% 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.