Tokio Marine Asset Management Co. Ltd. Sells 1,000 Shares of Block, Inc. (NYSE:SQ)

Tokio Marine Asset Management Co. Ltd. lessened its position in shares of Block, Inc. (NYSE:SQ) by 6.5% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 14,310 shares of the technology company’s stock after selling 1,000 shares during the period. Tokio Marine Asset Management Co. Ltd.’s holdings in Block were worth $1,107,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Baillie Gifford & Co. lifted its stake in Block by 3,525.7% during the fourth quarter. Baillie Gifford & Co. now owns 5,935,002 shares of the technology company’s stock worth $459,072,000 after purchasing an additional 5,771,310 shares during the last quarter. Lone Pine Capital LLC bought a new stake in Block during the third quarter worth about $172,001,000. Qube Research & Technologies Ltd lifted its stake in Block by 72.8% during the third quarter. Qube Research & Technologies Ltd now owns 2,683,346 shares of the technology company’s stock worth $118,765,000 after purchasing an additional 1,130,925 shares during the last quarter. ARK Investment Management LLC lifted its stake in Block by 9.2% during the fourth quarter. ARK Investment Management LLC now owns 11,887,628 shares of the technology company’s stock worth $919,508,000 after purchasing an additional 1,000,514 shares during the last quarter. Finally, Assenagon Asset Management S.A. lifted its stake in Block by 396.4% during the third quarter. Assenagon Asset Management S.A. now owns 1,228,886 shares of the technology company’s stock worth $54,390,000 after purchasing an additional 981,320 shares during the last quarter. Institutional investors own 70.44% of the company’s stock.

Block Price Performance

SQ stock traded up $2.68 during trading on Friday, reaching $75.47. The company’s stock had a trading volume of 1,662,376 shares, compared to its average volume of 9,765,254. The company’s fifty day moving average is $77.21 and its 200-day moving average is $66.90. Block, Inc. has a 1 year low of $38.85 and a 1 year high of $87.52. The company has a market capitalization of $46.47 billion, a P/E ratio of 435.47, a price-to-earnings-growth ratio of 2.23 and a beta of 2.55. The company has a quick ratio of 1.90, a current ratio of 1.90 and a debt-to-equity ratio of 0.22.

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 during the quarter, compared to the consensus estimate of $5.69 billion. On average, research analysts expect that Block, Inc. will post 1.02 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on SQ. Benchmark lifted their price objective on Block from $89.00 to $99.00 and gave the stock a “buy” rating in a report on Thursday, April 4th. Susquehanna reiterated a “positive” rating and issued a $100.00 price objective on shares of Block in a report on Monday. William Blair reiterated a “market perform” rating on shares of Block in a report on Friday, February 23rd. Monness Crespi & Hardt lifted their price objective on Block from $85.00 to $100.00 and gave the stock a “buy” rating in a report on Friday, February 23rd. Finally, Piper Sandler reiterated an “overweight” rating and issued a $88.00 price objective (up previously from $86.00) on shares of Block in a report on Friday, February 23rd. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and twenty-eight have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $85.67.

Insider Buying and Selling at Block

In related news, insider Brian Grassadonia sold 127,800 shares of the stock in a transaction dated Tuesday, February 20th. The shares were sold at an average price of $65.45, for a total value of $8,364,510.00. Following the completion of the transaction, the insider now owns 405,224 shares of the company’s stock, valued at approximately $26,521,910.80. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In related 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 completion of the transaction, the chief accounting officer now owns 68,823 shares of the company’s stock, valued at approximately $4,425,318.90. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider Brian Grassadonia sold 127,800 shares of the firm’s stock in a transaction dated 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 directly owns 405,224 shares of the company’s stock, valued at approximately $26,521,910.80. The disclosure for this sale can be found here. Insiders sold 363,801 shares of company stock valued at $27,284,175 in the last 90 days. Insiders own 10.79% of the company’s stock.

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.