Regal Investment Advisors LLC grew its stake in shares of Block, Inc. (NYSE:SQ – Get Rating) by 1.6% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 11,648 shares of the technology company's stock after purchasing an additional 185 shares during the quarter. Regal Investment Advisors LLC's holdings in Block were worth $641,000 as of its most recent filing with the Securities and Exchange Commission.
Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Ronald Blue Trust Inc. purchased a new position in shares of Block during the second quarter worth approximately $43,000. Oxler Private Wealth LLC grew its position in shares of Block by 95.7% during the third quarter. Oxler Private Wealth LLC now owns 460 shares of the technology company's stock worth $25,000 after acquiring an additional 225 shares during the last quarter. Householder Group Estate & Retirement Specialist LLC purchased a new position in shares of Block during the third quarter worth approximately $28,000. Heritage Wealth Management LLC purchased a new position in shares of Block during the second quarter worth approximately $36,000. Finally, Twin Lakes Capital Management LLC purchased a new position in shares of Block during the third quarter worth approximately $37,000. Institutional investors and hedge funds own 59.49% of the company's stock.
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Insiders Place Their Bets
In other Block news, insider Alyssa Henry sold 30,769 shares of the company's stock in a transaction that occurred on Wednesday, March 8th. The stock was sold at an average price of $77.30, for a total value of $2,378,443.70. Following the completion of the transaction, the insider now owns 418,667 shares in the company, valued at approximately $32,362,959.10. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other Block news, insider Sivan Whiteley sold 2,716 shares of the company's stock in a transaction that occurred on Tuesday, January 3rd. The stock was sold at an average price of $64.28, for a total value of $174,584.48. Following the transaction, the insider now directly owns 105,400 shares of the company's stock, valued at approximately $6,775,112. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Alyssa Henry sold 30,769 shares of the company's stock in a transaction that occurred on Wednesday, March 8th. The shares were sold at an average price of $77.30, for a total value of $2,378,443.70. Following the completion of the transaction, the insider now directly owns 418,667 shares in the company, valued at $32,362,959.10. The disclosure for this sale can be found here. Insiders sold a total of 241,823 shares of company stock worth $18,039,979 in the last 90 days. 11.52% of the stock is owned by company insiders.
Wall Street Analyst Weigh In
A number of equities analysts recently weighed in on the stock. Piper Sandler reiterated an "overweight" rating and issued a $93.00 price objective on shares of Block in a research report on Tuesday, December 13th. BNP Paribas assumed coverage on shares of Block in a research report on Tuesday, February 28th. They issued an "underperform" rating on the stock. Mizuho lifted their price objective on shares of Block from $70.00 to $80.00 and gave the company a "neutral" rating in a research report on Monday, February 27th. Oppenheimer lowered shares of Block from an "outperform" rating to a "market perform" rating in a research report on Wednesday, January 25th. Finally, Morgan Stanley boosted their target price on shares of Block from $67.00 to $72.00 and gave the stock an "equal weight" rating in a research report on Tuesday, February 21st. Three equities research analysts have rated the stock with a sell rating, six have given a hold rating and twenty-two have issued a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $107.27.
Block Stock Down 3.8 %
Shares of NYSE:SQ opened at $71.01 on Friday. The company has a debt-to-equity ratio of 0.24, a quick ratio of 1.85 and a current ratio of 1.85. Block, Inc. has a 1 year low of $51.34 and a 1 year high of $149.00. The stock has a market capitalization of $42.75 billion, a P/E ratio of -74.75 and a beta of 2.35. The stock has a 50-day simple moving average of $76.10 and a 200-day simple moving average of $67.43.
Block (NYSE:SQ – Get Rating) last issued its earnings results on Thursday, February 23rd. The technology company reported ($0.23) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.16) by ($0.07). Block had a negative return on equity of 2.28% and a negative net margin of 3.11%. The firm had revenue of $4.65 billion for the quarter, compared to analysts' expectations of $4.53 billion. Equities analysts forecast that Block, Inc. will post -0.02 earnings per share for the current year.
Block Profile
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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.
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