10,268 Shares in Block, Inc. (NYSE:SQ) Acquired by Rakuten Securities Inc.

Rakuten Securities Inc. acquired a new stake in Block, Inc. (NYSE:SQ - Free Report) in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor acquired 10,268 shares of the technology company's stock, valued at approximately $794,000.

Several other hedge funds also recently modified their holdings of SQ. Capital Impact Advisors LLC lifted its position in Block by 2.6% in the fourth quarter. Capital Impact Advisors LLC now owns 5,401 shares of the technology company's stock worth $339,000 after purchasing an additional 138 shares during the period. Washington Trust Advisors Inc. lifted its position in Block by 38.7% in the fourth quarter. Washington Trust Advisors Inc. now owns 616 shares of the technology company's stock worth $48,000 after purchasing an additional 172 shares during the period. Dynamic Advisor Solutions LLC lifted its position in Block by 2.9% in the fourth quarter. Dynamic Advisor Solutions LLC now owns 6,328 shares of the technology company's stock worth $489,000 after purchasing an additional 180 shares during the period. Larson Financial Group LLC lifted its position in 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 purchasing an additional 202 shares during the period. Finally, Advisor Partners II LLC lifted its position in Block by 5.3% in the first quarter. Advisor Partners II LLC now owns 4,085 shares of the technology company's stock worth $280,000 after purchasing an additional 207 shares during the period. 70.44% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several research firms have issued reports on SQ. Benchmark increased their price objective on Block from $89.00 to $99.00 and gave the stock a "buy" rating in a research note on Thursday, April 4th. KeyCorp increased their price objective on Block from $80.00 to $95.00 and gave the stock an "overweight" rating in a research note on Wednesday, March 27th. Citigroup increased their price objective on Block from $76.00 to $86.00 and gave the stock a "buy" rating in a research note on Monday, February 26th. Canaccord Genuity Group increased their price objective on Block from $80.00 to $95.00 and gave the stock a "buy" rating in a research note on Monday, February 26th. Finally, Keefe, Bruyette & Woods increased their price objective on Block from $74.00 to $78.00 and gave the stock a "market perform" rating in a research note on Friday, February 23rd. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and twenty-seven have issued a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average price target of $84.41.

Insiders Place Their Bets

In other Block news, insider Brian Grassadonia sold 4,514 shares of the business'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 transaction, the insider now owns 477,290 shares of the company's stock, valued at approximately $37,424,308.90. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, CAO Ajmere Dale sold 500 shares of the business's stock in a transaction that occurred on Monday, April 1st. The stock was sold at an average price of $84.75, for a total transaction of $42,375.00. Following the transaction, the chief accounting officer now directly owns 68,323 shares of the company's stock, valued at approximately $5,790,374.25. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Brian Grassadonia sold 4,514 shares of the business'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 value of $353,942.74. Following the transaction, the insider now directly owns 477,290 shares in the company, valued at $37,424,308.90. The disclosure for this sale can be found here. Insiders have sold 363,801 shares of company stock valued at $27,284,175 in the last 90 days. 10.79% of the stock is currently owned by insiders.

Block Stock Up 0.5 %

Block stock traded up $0.37 during midday trading on Wednesday, reaching $73.51. The stock had a trading volume of 5,920,512 shares, compared to its average volume of 10,118,555. The firm's fifty day simple moving average is $76.62 and its 200-day simple moving average is $65.81. Block, Inc. has a 1-year low of $38.85 and a 1-year high of $87.52. The stock has a market capitalization of $45.26 billion, a P/E ratio of 432.35, a price-to-earnings-growth ratio of 2.18 and a beta of 2.55. The company has a debt-to-equity ratio of 0.22, a quick ratio of 1.90 and a current ratio of 1.90.

Block (NYSE:SQ - Get Free Report) last announced 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 return on equity of 0.63% and a net margin of 0.04%. The business had revenue of $5.77 billion for the quarter, compared to analyst estimates of $5.69 billion. As a group, analysts expect that Block, Inc. will post 1.02 EPS for the current fiscal year.

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.