Cetera Advisor Networks LLC Buys 2,604 Shares of Block, Inc. (NYSE:SQ)

Cetera Advisor Networks LLC boosted its stake in Block, Inc. (NYSE:SQGet Rating) by 5.8% during the 2nd quarter, HoldingsChannel reports. The fund owned 47,569 shares of the technology company’s stock after acquiring an additional 2,604 shares during the quarter. Cetera Advisor Networks LLC’s holdings in Block were worth $2,924,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in the stock. CoreCap Advisors LLC bought a new stake in shares of Block during the 2nd quarter worth about $44,000. Glassman Wealth Services boosted its holdings in Block by 42.3% in the 2nd quarter. Glassman Wealth Services now owns 1,264 shares of the technology company’s stock valued at $78,000 after purchasing an additional 376 shares during the period. O Dell Group LLC boosted its holdings in Block by 9.9% in the 2nd quarter. O Dell Group LLC now owns 1,448 shares of the technology company’s stock valued at $89,000 after purchasing an additional 130 shares during the period. Desjardins Global Asset Management Inc. boosted its holdings in Block by 23.3% in the 1st quarter. Desjardins Global Asset Management Inc. now owns 1,602 shares of the technology company’s stock valued at $217,000 after purchasing an additional 303 shares during the period. Finally, GraniteShares Advisors LLC boosted its holdings in Block by 7.2% in the 1st quarter. GraniteShares Advisors LLC now owns 2,266 shares of the technology company’s stock valued at $307,000 after purchasing an additional 153 shares during the period. 62.26% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts have issued reports on SQ shares. Sumitomo Mitsui Financial Group downgraded shares of Block from an “outperform” rating to a “neutral” rating and cut their price objective for the company from $120.00 to $70.00 in a report on Wednesday, September 21st. Mizuho upped their price target on shares of Block from $57.00 to $69.00 and gave the stock a “neutral” rating in a report on Wednesday, November 16th. Barclays cut their price target on shares of Block from $130.00 to $100.00 and set an “overweight” rating for the company in a report on Sunday, November 6th. Wells Fargo & Company cut their price target on shares of Block from $99.00 to $97.00 and set an “overweight” rating for the company in a report on Friday, November 4th. Finally, Macquarie raised shares of Block from a “neutral” rating to an “outperform” rating and set a $100.00 price target for the company in a report on Tuesday, November 8th. Two investment analysts have rated the stock with a sell rating, six have issued a hold rating and thirty-one have given a buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $114.70.

Block Stock Up 1.9 %

Block stock opened at $63.92 on Friday. The firm’s fifty day moving average price is $59.98 and its two-hundred day moving average price is $69.16. The firm has a market capitalization of $38.23 billion, a price-to-earnings ratio of -68.73 and a beta of 2.37. The company has a current ratio of 1.86, a quick ratio of 1.86 and a debt-to-equity ratio of 0.25. Block, Inc. has a 1-year low of $51.34 and a 1-year high of $220.60.

Block (NYSE:SQGet Rating) last posted its quarterly earnings data on Thursday, November 3rd. The technology company reported $0.01 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.15) by $0.16. Block had a negative net margin of 2.97% and a negative return on equity of 2.10%. The business had revenue of $4.52 billion during the quarter, compared to the consensus estimate of $4.48 billion. On average, equities research analysts predict that Block, Inc. will post -0.68 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, insider Alyssa Henry sold 30,769 shares of Block stock in a transaction dated Wednesday, September 14th. The shares were sold at an average price of $66.35, for a total value of $2,041,523.15. Following the completion of the transaction, the insider now owns 428,058 shares in the company, valued at $28,401,648.30. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, CFO Amrita Ahuja sold 3,820 shares of Block stock in a transaction dated Wednesday, November 2nd. The shares were sold at an average price of $58.86, for a total value of $224,845.20. Following the completion of the transaction, the chief financial officer now owns 144,010 shares in the company, valued at $8,476,428.60. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Alyssa Henry sold 30,769 shares of Block stock in a transaction dated Wednesday, September 14th. The stock was sold at an average price of $66.35, for a total transaction of $2,041,523.15. Following the completion of the transaction, the insider now owns 428,058 shares of the company’s stock, valued at approximately $28,401,648.30. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 351,198 shares of company stock worth $21,260,988. Insiders own 11.52% of the company’s stock.

Block Company Profile

(Get Rating)

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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Institutional Ownership by Quarter for Block (NYSE:SQ)

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