Golden State Equity Partners Makes New Investment in Block, Inc. (NYSE:SQ)

Golden State Equity Partners purchased a new position in shares of Block, Inc. (NYSE:SQ) during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor purchased 3,989 shares of the technology company’s stock, valued at approximately $309,000.

Other large investors also recently modified their holdings of the company. Hexagon Capital Partners LLC grew its holdings in Block by 89.6% in the third quarter. Hexagon Capital Partners LLC now owns 635 shares of the technology company’s stock worth $28,000 after purchasing an additional 300 shares during the period. Front Row Advisors LLC increased its holdings in shares of Block by 67,500.0% during the third quarter. Front Row Advisors LLC now owns 676 shares of the technology company’s stock valued at $30,000 after acquiring an additional 675 shares in the last quarter. Larson Financial Group LLC increased its holdings in shares of Block by 38.4% during the third quarter. Larson Financial Group LLC now owns 728 shares of the technology company’s stock valued at $32,000 after acquiring an additional 202 shares in the last quarter. Headinvest LLC bought a new stake in shares of Block during the third quarter valued at approximately $44,000. Finally, CNB Bank increased its holdings in shares of Block by 40.2% during the third quarter. CNB Bank now owns 1,046 shares of the technology company’s stock valued at $46,000 after acquiring an additional 300 shares in the last quarter. Institutional investors and hedge funds own 70.44% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have recently commented on the company. Wells Fargo & Company upgraded Block from an “equal weight” rating to an “overweight” rating and set a $95.00 price objective for the company in a report on Friday, February 23rd. Mizuho boosted their price objective on Block from $99.00 to $106.00 and gave the company a “buy” rating in a report on Wednesday, April 10th. KeyCorp boosted their price objective on Block from $80.00 to $95.00 and gave the company an “overweight” rating in a report on Wednesday, March 27th. Canaccord Genuity Group boosted their price objective on Block from $80.00 to $95.00 and gave the company a “buy” rating in a report on Monday, February 26th. Finally, Wolfe Research boosted their price objective on Block from $95.00 to $100.00 and gave the company an “outperform” rating in a report on Thursday, April 11th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and twenty-eight have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $85.67.

Block Stock Up 2.3 %

Shares of NYSE SQ opened at $74.48 on Friday. Block, Inc. has a one year low of $38.85 and a one year high of $87.52. The company has a debt-to-equity ratio of 0.22, a current ratio of 1.90 and a quick ratio of 1.90. The business’s fifty day moving average price is $77.39 and its 200-day moving average price is $67.26. The stock has a market capitalization of $45.86 billion, a PE ratio of 438.12, a P/E/G ratio of 2.06 and a beta of 2.55.

Block (NYSE:SQ) last issued its quarterly earnings results on Thursday, February 22nd. The technology company reported $0.03 EPS for the quarter, beating analysts’ consensus estimates of $0.02 by $0.01. Block had a return on equity of 0.63% and a net margin of 0.04%. The firm had revenue of $5.77 billion for the quarter, compared to analysts’ expectations of $5.69 billion. On average, equities research analysts anticipate that Block, Inc. will post 1.11 EPS for the current year.

Insider Activity at Block

In related news, insider Brian Grassadonia sold 127,800 shares of the business’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 directly owns 405,224 shares in the company, valued at approximately $26,521,910.80. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. In other Block news, insider Brian Grassadonia sold 127,800 shares of the company’s stock in a transaction dated 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 transaction, the insider now directly owns 405,224 shares in the company, valued at approximately $26,521,910.80. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Amrita Ahuja sold 2,581 shares of the company’s stock in a transaction dated Wednesday, February 21st. The stock was sold at an average price of $64.30, for a total value of $165,958.30. Following the completion of the transaction, the chief financial officer now owns 201,754 shares in the company, valued at $12,972,782.20. The disclosure for this sale can be found here. In the last three months, insiders have sold 363,801 shares of company stock worth $27,284,175. 10.79% of the stock is owned by company insiders.

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.