Block, Inc. (NYSE:SQ) Shares Sold by Cullen Frost Bankers Inc.

Cullen Frost Bankers Inc. trimmed its position in Block, Inc. (NYSE:SQ) by 10.6% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 8,159 shares of the technology company’s stock after selling 972 shares during the period. Cullen Frost Bankers Inc.’s holdings in Block were worth $631,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in SQ. Valley National Advisers Inc. boosted its holdings in Block by 72.3% in the fourth quarter. Valley National Advisers Inc. now owns 610 shares of the technology company’s stock valued at $47,000 after purchasing an additional 256 shares during the last quarter. Washington Trust Advisors Inc. lifted its holdings in Block by 38.7% in the fourth quarter. Washington Trust Advisors Inc. now owns 616 shares of the technology company’s stock valued at $48,000 after acquiring an additional 172 shares during the period. Front Row Advisors LLC grew its stake in shares of Block by 67,500.0% during the 3rd quarter. Front Row Advisors LLC now owns 676 shares of the technology company’s stock worth $30,000 after purchasing an additional 675 shares during the period. Larson Financial Group LLC lifted its stake in shares of Block by 38.4% in 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. Finally, Hexagon Capital Partners LLC boosted its holdings in Block by 26.8% during the fourth quarter. Hexagon Capital Partners LLC now owns 805 shares of the technology company’s stock worth $62,000 after buying an additional 170 shares in the last quarter. Hedge funds and other institutional investors own 70.44% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on SQ shares. Monness Crespi & Hardt reissued a “neutral” rating on shares of Block in a research note on Thursday, May 2nd. Royal Bank of Canada upped their target price on Block from $77.00 to $88.00 and gave the stock an “outperform” rating in a research note on Friday, February 23rd. BTIG Research upgraded shares of Block from a “neutral” rating to a “buy” rating and set a $85.00 price objective for the company in a research report on Tuesday, January 30th. Wells Fargo & Company upgraded 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. Finally, Benchmark reiterated a “buy” rating and set a $99.00 price objective on shares of Block in a research note on Friday, May 3rd. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and twenty-seven have given a buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $87.55.

Block Stock Performance

Shares of SQ stock opened at $73.50 on Friday. The company has a debt-to-equity ratio of 0.22, a quick ratio of 1.90 and a current ratio of 1.90. The stock has a market cap of $45.25 billion, a PE ratio of 95.06, a P/E/G ratio of 1.66 and a beta of 2.57. Block, Inc. has a 1 year low of $38.85 and a 1 year high of $87.52. The stock has a fifty day moving average price of $77.22 and a 200 day moving average price of $68.78.

Block (NYSE:SQ) last issued its quarterly earnings data on Thursday, February 22nd. The technology company reported $0.03 earnings per share for the quarter, topping 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 business had revenue of $5.77 billion during the quarter, compared to analysts’ expectations of $5.69 billion. Sell-side analysts forecast that Block, Inc. will post 1.29 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, insider Brian Grassadonia sold 127,800 shares of the company’s stock in a transaction that occurred on Tuesday, February 20th. The shares were sold at an average price of $65.45, for a total transaction of $8,364,510.00. Following the transaction, the insider now owns 405,224 shares of the company’s stock, valued at $26,521,910.80. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In other Block news, CAO Ajmere Dale sold 656 shares of Block stock in a transaction on Wednesday, February 21st. The shares were sold at an average price of $64.30, for a total value of $42,180.80. Following the transaction, 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 SEC, which can be accessed through the SEC website. Also, insider Brian Grassadonia sold 127,800 shares of the company’s stock in a transaction on Tuesday, February 20th. The stock was sold at an average price of $65.45, for a total value of $8,364,510.00. Following the sale, the insider now owns 405,224 shares of the company’s stock, valued at $26,521,910.80. The disclosure for this sale can be found here. Insiders have sold 477,469 shares of company stock valued at $34,963,585 in the last ninety days. Insiders own 10.79% of the company’s stock.

Block Company 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.