City Holding Co. lessened its stake in Block, Inc. (NYSE:SQ – Get Rating) by 38.1% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 3,393 shares of the technology company’s stock after selling 2,085 shares during the period. City Holding Co.’s holdings in Block were worth $233,000 as of its most recent SEC filing.
Several other large investors have also recently bought and sold shares of SQ. Oxler Private Wealth LLC boosted its holdings in Block by 95.7% in the third quarter. Oxler Private Wealth LLC now owns 460 shares of the technology company’s stock valued at $25,000 after acquiring an additional 225 shares during the last quarter. Ronald Blue Trust Inc. lifted its position in Block by 72.5% during the 4th quarter. Ronald Blue Trust Inc. now owns 476 shares of the technology company’s stock valued at $26,000 after purchasing an additional 200 shares during the period. Armstrong Advisory Group Inc. bought a new position in shares of Block in the 4th quarter valued at about $34,000. Hollencrest Capital Management acquired a new stake in shares of Block during the 4th quarter worth approximately $34,000. Finally, Accurate Wealth Management LLC acquired a new position in Block in the fourth quarter valued at approximately $41,000. Institutional investors and hedge funds own 63.97% of the company’s stock.
Wall Street Analysts Forecast Growth
A number of research analysts have recently weighed in on SQ shares. Wells Fargo & Company cut their price target on Block from $108.00 to $105.00 in a research note on Friday, May 5th. Mizuho raised Block from a “neutral” rating to a “buy” rating and increased their target price for the company from $80.00 to $93.00 in a research note on Thursday, March 16th. BMO Capital Markets lowered their price target on Block from $101.00 to $88.00 in a research note on Friday, May 5th. Credit Suisse Group reduced their price objective on shares of Block from $105.00 to $100.00 in a research note on Tuesday, April 25th. Finally, Needham & Company LLC lowered their target price on shares of Block from $95.00 to $80.00 and set a “buy” rating for the company in a research note on Friday, May 5th. Four research analysts have rated the stock with a sell rating, six have assigned a hold rating and twenty-two have assigned a buy rating to the company. According to MarketBeat.com, Block has an average rating of “Moderate Buy” and an average target price of $95.15.
Insider Buying and Selling at Block
In other news, Director Lawrence Henry Summers sold 3,668 shares of the business’s stock in a transaction that occurred on Tuesday, May 30th. The stock was sold at an average price of $58.66, for a total transaction of $215,164.88. Following the completion of the sale, the director now owns 22,133 shares in the company, valued at $1,298,321.78. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. In other news, Director Lawrence Henry Summers sold 3,668 shares of the business’s stock in a transaction dated Tuesday, May 30th. The shares were sold at an average price of $58.66, for a total value of $215,164.88. Following the completion of the sale, the director now owns 22,133 shares of the company’s stock, valued at $1,298,321.78. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CAO Ajmere Dale sold 887 shares of the company’s stock in a transaction dated Monday, April 3rd. The shares were sold at an average price of $67.00, for a total transaction of $59,429.00. Following the completion of the transaction, the chief accounting officer now owns 46,005 shares in the company, valued at $3,082,335. The disclosure for this sale can be found here. Insiders have sold a total of 174,308 shares of company stock valued at $11,023,240 in the last three months. 10.79% of the stock is currently owned by company insiders.
Block Stock Up 3.5 %
SQ stock opened at $63.93 on Wednesday. Block, Inc. has a 1-year low of $51.34 and a 1-year high of $93.19. The business’s 50 day simple moving average is $61.58 and its 200 day simple moving average is $68.10. The company has a current ratio of 1.83, a quick ratio of 1.83 and a debt-to-equity ratio of 0.24. The firm has a market capitalization of $38.67 billion, a PE ratio of -106.55 and a beta of 2.33.
Block (NYSE:SQ – Get Rating) last released its quarterly earnings data on Thursday, May 4th. The technology company reported $0.06 EPS for the quarter, beating the consensus estimate of ($0.11) by $0.17. The firm had revenue of $4.99 billion for the quarter, compared to the consensus estimate of $4.58 billion. Block had a negative net margin of 1.92% and a negative return on equity of 1.22%. As a group, research analysts anticipate that Block, Inc. will post -0.08 EPS for the current year.
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.