3,208 Shares in Block, Inc. (NYSE:SQ) Acquired by Legacy Financial Advisors Inc.

Legacy Financial Advisors Inc. bought a new stake in Block, Inc. (NYSE:SQ) during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund bought 3,208 shares of the technology company’s stock, valued at approximately $248,000.

Other large investors have also modified their holdings of the company. Baillie Gifford & Co. increased its holdings in Block by 3,525.7% in the 4th quarter. Baillie Gifford & Co. now owns 5,935,002 shares of the technology company’s stock valued at $459,072,000 after purchasing an additional 5,771,310 shares during the last quarter. Lone Pine Capital LLC acquired a new stake in shares of Block in the third quarter valued at $172,001,000. Qube Research & Technologies Ltd raised its holdings in shares of Block by 72.8% in the 3rd quarter. Qube Research & Technologies Ltd now owns 2,683,346 shares of the technology company’s stock valued at $118,765,000 after buying an additional 1,130,925 shares during the period. ARK Investment Management LLC lifted its stake in Block by 9.2% during the 4th quarter. ARK Investment Management LLC now owns 11,887,628 shares of the technology company’s stock worth $919,508,000 after acquiring an additional 1,000,514 shares in the last quarter. Finally, Assenagon Asset Management S.A. boosted its holdings in Block by 396.4% during the 3rd quarter. Assenagon Asset Management S.A. now owns 1,228,886 shares of the technology company’s stock valued at $54,390,000 after acquiring an additional 981,320 shares during the period. Institutional investors and hedge funds own 70.44% of the company’s stock.

Insider Buying and Selling at Block

In other news, insider Brian Grassadonia sold 127,800 shares of the firm’s stock in a transaction 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 sale, the insider now owns 405,224 shares in the company, valued at $26,521,910.80. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, CAO Ajmere Dale sold 656 shares of the business’s stock in a transaction dated Wednesday, February 21st. The stock was sold at an average price of $64.30, for a total transaction of $42,180.80. Following the completion of the sale, the chief accounting officer now owns 68,823 shares in the company, valued at approximately $4,425,318.90. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, 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 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. In the last three months, insiders sold 477,469 shares of company stock worth $34,963,585. Insiders own 10.79% of the company’s stock.

Analyst Ratings Changes

A number of analysts have issued reports on SQ shares. Monness Crespi & Hardt reiterated a “neutral” rating on shares of Block in a research note on Thursday. Wells Fargo & Company raised shares of Block from an “equal weight” rating to an “overweight” rating and set a $95.00 price target for the company in a research report on Friday, February 23rd. KeyCorp boosted their price target on shares of Block from $80.00 to $95.00 and gave the stock an “overweight” rating in a research note on Wednesday, March 27th. Benchmark reiterated a “buy” rating and issued a $99.00 price objective on shares of Block in a research note on Friday. Finally, Needham & Company LLC boosted their target price on Block from $95.00 to $105.00 and gave the stock a “buy” rating in a research note on Friday. One research analyst has rated the stock with a sell rating, seven have given a hold rating and twenty-seven have assigned a buy rating to the company’s stock. According to MarketBeat, Block has a consensus rating of “Moderate Buy” and an average price target of $87.42.

Block Price Performance

Shares of NYSE:SQ traded down $0.83 on Friday, hitting $69.47. The company had a trading volume of 28,948,341 shares, compared to its average volume of 7,617,495. The company has a market cap of $42.77 billion, a PE ratio of 90.22, a PEG ratio of 1.92 and a beta of 2.57. The business has a 50 day moving average of $77.63 and a 200 day moving average of $68.16. Block, Inc. has a 52-week low of $38.85 and a 52-week high of $87.52. The company has a current ratio of 1.90, a quick ratio of 1.90 and a debt-to-equity ratio of 0.22.

Block (NYSE:SQ) last released its earnings results on Thursday, February 22nd. The technology company reported $0.03 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.02 by $0.01. Block had a net margin of 2.18% and a return on equity of 2.07%. The company had revenue of $5.77 billion for the quarter, compared to analyst estimates of $5.69 billion. As a group, equities analysts anticipate that Block, Inc. will post 1.29 earnings per share for the current fiscal 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.