International Assets Investment Management LLC Makes New Investment in Block, Inc. (NYSE:SQ)

International Assets Investment Management LLC purchased a new position in Block, Inc. (NYSE:SQ - Free Report) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 144,799 shares of the technology company's stock, valued at approximately $112,000,000.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Hexagon Capital Partners LLC grew its stake in shares of 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 acquiring an additional 300 shares during the last quarter. Front Row Advisors LLC grew its stake in shares of Block by 67,500.0% in the third quarter. Front Row Advisors LLC now owns 676 shares of the technology company's stock worth $30,000 after acquiring an additional 675 shares during the last quarter. Strategic Investment Solutions Inc. IL purchased a new stake in shares of Block in the first quarter worth $31,000. Larson Financial Group LLC grew its stake in shares of Block by 38.4% in the third quarter. Larson Financial Group LLC now owns 728 shares of the technology company's stock worth $32,000 after acquiring an additional 202 shares during the last quarter. Finally, Industrial Alliance Investment Management Inc. purchased a new stake in shares of Block during the second quarter valued at $40,000. 70.44% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Block

In other Block news, insider Brian Grassadonia sold 4,514 shares of the firm's stock in a transaction that occurred on Wednesday, April 3rd. The stock was sold at an average price of $78.41, for a total transaction of $353,942.74. Following the completion of the transaction, the insider now owns 477,290 shares in the company, valued at approximately $37,424,308.90. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other news, insider Brian Grassadonia sold 4,514 shares of Block stock in a transaction that occurred on Wednesday, April 3rd. The stock was sold at an average price of $78.41, for a total value of $353,942.74. Following the completion of the transaction, the insider now owns 477,290 shares in the company, valued at approximately $37,424,308.90. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CAO Ajmere Dale sold 656 shares of Block stock in a transaction that occurred on Wednesday, February 21st. The stock was 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 disclosure for this sale can be found here. Insiders sold 363,801 shares of company stock worth $27,284,175 in the last quarter. 10.79% of the stock is owned by corporate insiders.

Block Price Performance

Shares of NYSE:SQ traded up $2.44 during trading on Friday, hitting $77.17. 8,897,863 shares of the company's stock were exchanged, compared to its average volume of 8,160,769. The company has a market cap of $47.51 billion, a price-to-earnings ratio of 439.59, a PEG ratio of 2.20 and a beta of 2.55. The business's 50-day simple moving average is $75.10 and its 200 day simple moving average is $63.94. The company has a debt-to-equity ratio of 0.22, a current ratio of 1.90 and a quick ratio of 1.90. Block, Inc. has a 52-week low of $38.85 and a 52-week high of $87.52.

Block (NYSE:SQ - Get Free Report) last released its quarterly earnings results on Thursday, February 22nd. The technology company reported $0.03 earnings per share for the quarter, beating the consensus estimate of $0.02 by $0.01. The business had revenue of $5.77 billion during the quarter, compared to analysts' expectations of $5.69 billion. Block had a return on equity of 0.63% and a net margin of 0.04%. As a group, equities analysts predict that Block, Inc. will post 1.03 EPS for the current year.

Analyst Ratings Changes

SQ has been the topic of several recent analyst reports. Canaccord Genuity Group increased their price objective on Block from $80.00 to $95.00 and gave the company a "buy" rating in a research report on Monday, February 26th. KeyCorp increased their price objective on Block from $80.00 to $95.00 and gave the company an "overweight" rating in a research report on Wednesday, March 27th. BTIG Research raised Block from a "neutral" rating to a "buy" rating and set a $85.00 price objective on the stock in a research report on Tuesday, January 30th. Seaport Res Ptn raised Block from a "neutral" rating to a "buy" rating in a research report on Friday, February 23rd. Finally, Benchmark increased their target price on Block from $89.00 to $99.00 and gave the company a "buy" rating in a report on Thursday. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and twenty-six have issued a buy rating to the company's stock. According to data from MarketBeat.com, Block has an average rating of "Moderate Buy" and a consensus price target of $83.72.

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.