Mackenzie Financial Corp Has $10.80 Million Stock Position in Block, Inc. (NYSE:SQ)

Mackenzie Financial Corp lifted its position in shares of Block, Inc. (NYSE:SQ - Free Report) by 85.4% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 139,647 shares of the technology company's stock after purchasing an additional 64,337 shares during the quarter. Mackenzie Financial Corp's holdings in Block were worth $10,802,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors also recently modified their holdings of the company. Capital Impact Advisors LLC boosted its stake in Block by 2.6% in the 4th quarter. Capital Impact Advisors LLC now owns 5,401 shares of the technology company's stock valued at $339,000 after buying an additional 138 shares in the last quarter. Washington Trust Advisors Inc. boosted its stake in Block by 38.7% in the 4th quarter. Washington Trust Advisors Inc. now owns 616 shares of the technology company's stock valued at $48,000 after buying an additional 172 shares in the last quarter. Dynamic Advisor Solutions LLC boosted its stake in Block by 2.9% in the 4th quarter. Dynamic Advisor Solutions LLC now owns 6,328 shares of the technology company's stock valued at $489,000 after buying an additional 180 shares in the last quarter. Larson Financial Group LLC boosted its stake in 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 buying an additional 202 shares in the last quarter. Finally, Advisor Partners II LLC boosted its stake in Block by 5.3% in the 1st quarter. Advisor Partners II LLC now owns 4,085 shares of the technology company's stock valued at $280,000 after buying an additional 207 shares in the last quarter. Institutional investors and hedge funds own 70.44% of the company's stock.

Block Stock Down 2.3 %

Shares of NYSE SQ traded down $1.64 during mid-day trading on Friday, reaching $70.42. 7,071,572 shares of the company's stock were exchanged, compared to its average volume of 6,380,691. The firm has a market capitalization of $43.36 billion, a price-to-earnings ratio of 423.88, a PEG ratio of 2.13 and a beta of 2.55. The company has a current ratio of 1.90, a quick ratio of 1.90 and a debt-to-equity ratio of 0.22. The business has a fifty day simple moving average of $76.75 and a 200 day simple moving average of $66.21. Block, Inc. has a twelve month low of $38.85 and a twelve month 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 EPS for the quarter, topping analysts' consensus estimates of $0.02 by $0.01. The company had revenue of $5.77 billion for the quarter, compared to analyst estimates 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 expect that Block, Inc. will post 1.02 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several analysts recently commented on the company. Wolfe Research boosted their price target on Block from $95.00 to $100.00 and gave the company an "outperform" rating in a research note on Thursday, April 11th. Citigroup boosted 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. Morgan Stanley reissued an "underweight" rating and issued a $60.00 price objective (down previously from $62.00) on shares of Block in a research note on Thursday, April 4th. Seaport Res Ptn raised Block from a "neutral" rating to a "buy" rating in a research note on Friday, February 23rd. Finally, Royal Bank of Canada boosted their price objective on Block from $77.00 to $88.00 and gave the stock an "outperform" rating in a research note on Friday, February 23rd. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and twenty-seven have assigned a buy rating to the company's stock. According to MarketBeat.com, Block has a consensus rating of "Moderate Buy" and an average target price of $85.22.

Insider Transactions at Block

In other news, insider Brian Grassadonia sold 127,800 shares of the firm's stock in a transaction dated 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 owns 405,224 shares of the company's stock, valued at $26,521,910.80. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. In related news, CFO Amrita Ahuja sold 4,170 shares of the stock in a transaction dated Tuesday, April 2nd. The stock was sold at an average price of $78.84, for a total transaction of $328,762.80. Following the completion of the transaction, the chief financial officer now directly owns 193,192 shares in the company, valued at $15,231,257.28. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Brian Grassadonia sold 127,800 shares of the 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 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 a total of 363,801 shares of company stock valued at $27,284,175 over the last 90 days. 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.