Block, Inc. (NYSE:SQ) Shares Sold by Sigma Planning Corp

Sigma Planning Corp reduced its holdings in Block, Inc. (NYSE:SQ) by 56.4% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 6,611 shares of the technology company’s stock after selling 8,552 shares during the quarter. Sigma Planning Corp’s holdings in Block were worth $511,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in SQ. Hexagon Capital Partners LLC boosted its holdings in shares of Block by 89.6% in the third quarter. Hexagon Capital Partners LLC now owns 635 shares of the technology company’s stock valued at $28,000 after acquiring an additional 300 shares in the last quarter. Front Row Advisors LLC boosted its stake in Block by 67,500.0% during the 3rd quarter. Front Row Advisors LLC now owns 676 shares of the technology company’s stock valued at $30,000 after purchasing an additional 675 shares in the last quarter. Larson Financial Group LLC increased 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 purchasing an additional 202 shares during the period. Headinvest LLC bought a new stake in shares of Block in the 3rd quarter worth $44,000. Finally, CNB Bank lifted its holdings in shares of Block by 40.2% in the third 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 period. Institutional investors own 70.44% of the company’s stock.

Insider Transactions at Block

In related news, insider Brian Grassadonia sold 127,800 shares of the 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 sale, the insider now owns 405,224 shares in the company, valued at approximately $26,521,910.80. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In other news, 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 directly owns 405,224 shares in the company, valued at $26,521,910.80. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CFO Amrita Ahuja sold 4,170 shares of the stock in a transaction that occurred on Tuesday, April 2nd. The shares were sold at an average price of $78.84, for a total value of $328,762.80. Following the completion of the sale, the chief financial officer now directly owns 193,192 shares of the company’s stock, valued at $15,231,257.28. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 363,801 shares of company stock worth $27,284,175. Company insiders own 10.79% of the company’s stock.

Block Trading Down 1.7 %

NYSE:SQ opened at $72.80 on Friday. The company has a quick ratio of 1.90, a current ratio of 1.90 and a debt-to-equity ratio of 0.22. The company’s 50 day moving average is $77.21 and its 200-day moving average is $66.90. The firm has a market cap of $44.82 billion, a price-to-earnings ratio of 435.47, a P/E/G ratio of 2.23 and a beta of 2.55. Block, Inc. has a 12 month low of $38.85 and a 12 month high of $87.52.

Block (NYSE:SQ) last announced its 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. Block had a net margin of 0.04% and a return on equity of 0.63%. The firm had revenue of $5.77 billion for the quarter, compared to the consensus estimate of $5.69 billion. Equities analysts anticipate that Block, Inc. will post 1.02 EPS for the current year.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on the company. Seaport Res Ptn raised Block from a “neutral” rating to a “buy” rating in a report on Friday, February 23rd. Wolfe Research increased their target price on shares of Block from $95.00 to $100.00 and gave the company an “outperform” rating in a research note on Thursday, April 11th. Evercore ISI restated an “in-line” rating and set a $75.00 target price on shares of Block in a report on Tuesday, March 26th. Keefe, Bruyette & Woods upped their price target on Block from $74.00 to $78.00 and gave the company a “market perform” rating in a report on Friday, February 23rd. Finally, Piper Sandler reissued an “overweight” rating and set a $88.00 price objective (up from $86.00) on shares of Block in a research note on Friday, February 23rd. One analyst has rated the stock with a sell rating, six have assigned a hold rating and twenty-eight have given a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $85.67.

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.