TCG Advisory Services LLC Acquires New Holdings in Block, Inc. (NYSE:SQ)

TCG Advisory Services LLC bought 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 firm bought 14,301 shares of the technology company's stock, valued at approximately $1,106,000.

A number of other hedge funds also recently added to or reduced their stakes in SQ. Clearbridge Investments LLC raised its stake in Block by 10.4% during the 3rd quarter. Clearbridge Investments LLC now owns 1,222,600 shares of the technology company's stock valued at $54,112,000 after acquiring an additional 115,132 shares in the last quarter. Mn Services Vermogensbeheer B.V. increased its stake in Block by 1.5% during the 3rd quarter. Mn Services Vermogensbeheer B.V. now owns 261,300 shares of the technology company's stock valued at $11,565,000 after buying an additional 3,900 shares during the period. IFG Advisory LLC bought a new stake in shares of Block during the 4th quarter worth about $213,000. Canada Pension Plan Investment Board boosted its holdings in shares of Block by 16.1% in the third quarter. Canada Pension Plan Investment Board now owns 1,373,857 shares of the technology company's stock valued at $60,807,000 after acquiring an additional 190,400 shares in the last quarter. Finally, CenterBook Partners LP acquired a new position in shares of Block during the third quarter valued at approximately $359,000. 70.44% of the stock is currently owned by institutional investors.

Block Stock Down 1.2 %

NYSE SQ traded down $0.83 during trading on Friday, hitting $69.47. 28,948,341 shares of the company traded hands, compared to its average volume of 7,617,495. The business has a fifty day simple moving average of $77.63 and a 200 day simple moving average of $68.16. The company has a current ratio of 1.90, a quick ratio of 1.90 and a debt-to-equity ratio of 0.22. Block, Inc. has a 12 month low of $38.85 and a 12 month high of $87.52. The company has a market capitalization of $42.77 billion, a P/E ratio of 90.22, a PEG ratio of 1.94 and a beta of 2.57.

Block (NYSE:SQ - Get Free Report) last released its earnings results on Thursday, February 22nd. The technology company reported $0.03 earnings per share for the quarter, topping analysts' consensus estimates of $0.02 by $0.01. The firm had revenue of $5.77 billion during the quarter, compared to analyst estimates of $5.69 billion. Block had a net margin of 2.18% and a return on equity of 2.07%. As a group, sell-side analysts predict that Block, Inc. will post 1.11 EPS for the current year.

Insider Buying and Selling

In other Block news, insider Brian Grassadonia sold 127,800 shares of the business's stock in a transaction on Tuesday, February 20th. The shares were sold at an average price of $65.45, for a total value of $8,364,510.00. Following the sale, the insider now owns 405,224 shares of the company's stock, valued at approximately $26,521,910.80. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In other Block news, insider Brian Grassadonia sold 127,800 shares of Block stock in a transaction that occurred 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 of the company's stock, valued at $26,521,910.80. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CAO Ajmere Dale sold 500 shares of the stock in a transaction that occurred on Monday, April 1st. The stock was sold at an average price of $84.75, for a total value of $42,375.00. Following the completion of the transaction, the chief accounting officer now directly owns 68,323 shares of the company's stock, valued at $5,790,374.25. The disclosure for this sale can be found here. In the last 90 days, insiders sold 477,469 shares of company stock valued at $34,963,585. Insiders own 10.79% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on SQ. TD Cowen upped their target price on Block from $90.00 to $92.00 and gave the stock a "buy" rating in a research report on Friday. Needham & Company LLC boosted their price target on shares of Block from $95.00 to $105.00 and gave the stock a "buy" rating in a research report on Friday. Mizuho raised their price objective on shares of Block from $99.00 to $106.00 and gave the company a "buy" rating in a research report on Wednesday, April 10th. Benchmark reiterated a "buy" rating and issued a $99.00 target price on shares of Block in a report on Friday. Finally, Evercore ISI restated an "in-line" rating and set a $75.00 target price on shares of Block in a report on Tuesday, March 26th. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and twenty-seven have assigned a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $87.42.

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.