2,030,000 Shares in Block, Inc. (NYSE:SQ) Acquired by Trivest Advisors Ltd

Trivest Advisors Ltd purchased a new position in shares of Block, Inc. (NYSE:SQ - Free Report) during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 2,030,000 shares of the technology company's stock, valued at approximately $157,021,000. Block makes up approximately 7.1% of Trivest Advisors Ltd's portfolio, making the stock its 6th largest position. Trivest Advisors Ltd owned approximately 0.33% of Block at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of SQ. Ieq Capital LLC raised its position in shares of Block by 30.7% in the 4th quarter. Ieq Capital LLC now owns 37,420 shares of the technology company's stock valued at $2,894,000 after purchasing an additional 8,783 shares in the last quarter. Forum Financial Management LP raised its position in shares of Block by 43.3% in the 4th quarter. Forum Financial Management LP now owns 6,594 shares of the technology company's stock valued at $510,000 after purchasing an additional 1,991 shares in the last quarter. Envestnet Portfolio Solutions Inc. acquired a new position in shares of Block in the 4th quarter valued at approximately $349,000. Dimensional Fund Advisors LP raised its position in shares of Block by 24.1% in the 4th quarter. Dimensional Fund Advisors LP now owns 1,724,520 shares of the technology company's stock valued at $133,436,000 after purchasing an additional 334,877 shares in the last quarter. Finally, QRG Capital Management Inc. raised its position in shares of Block by 35.3% in the 4th quarter. QRG Capital Management Inc. now owns 89,776 shares of the technology company's stock valued at $6,944,000 after purchasing an additional 23,433 shares in the last quarter. 70.44% of the stock is owned by institutional investors and hedge funds.

Block Price Performance

Shares of Block stock traded down $1.89 during trading on Friday, hitting $71.31. The stock had a trading volume of 5,714,214 shares, compared to its average volume of 9,102,150. The company has a debt-to-equity ratio of 0.16, a current ratio of 1.64 and a quick ratio of 1.90. The firm has a market cap of $43.90 billion, a P/E ratio of 92.61, a PEG ratio of 1.66 and a beta of 2.57. The business has a fifty day moving average of $77.06 and a two-hundred day moving average of $69.13. Block, Inc. has a fifty-two week low of $38.85 and a fifty-two week high of $87.52.

Block (NYSE:SQ - Get Free Report) last announced its earnings results on Thursday, February 22nd. The technology company reported $0.03 EPS for the quarter, beating the consensus estimate of $0.02 by $0.01. Block had a return on equity of 2.04% and a net margin of 2.18%. The business had revenue of $5.77 billion during the quarter, compared to the consensus estimate of $5.69 billion. On average, sell-side analysts expect that Block, Inc. will post 1.29 earnings per share for the current fiscal year.

Insider Activity

In other news, insider Brian Grassadonia sold 127,800 shares of the company's stock in a transaction 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 completion of the sale, the insider now directly owns 405,224 shares of the company's stock, valued at $26,521,910.80. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. In related news, insider Brian Grassadonia sold 127,800 shares of the company's stock in a transaction 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 transaction, 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 legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CAO Ajmere Dale sold 656 shares of the company's stock in a transaction on Wednesday, February 21st. The shares were sold at an average price of $64.30, for a total value of $42,180.80. Following the transaction, the chief accounting officer now directly owns 68,823 shares in the company, valued at $4,425,318.90. The disclosure for this sale can be found here. Insiders sold a total of 477,469 shares of company stock valued at $34,963,585 over the last three months. Insiders own 10.79% of the company's stock.

Wall Street Analyst Weigh In

SQ has been the subject of a number of research analyst reports. Citigroup boosted their price target on Block from $86.00 to $90.00 and gave the company a "buy" rating in a report on Monday, May 6th. Wells Fargo & Company upgraded Block from an "equal weight" rating to an "overweight" rating and set a $95.00 price target for the company in a report on Friday, February 23rd. Royal Bank of Canada boosted their price target on Block from $77.00 to $88.00 and gave the company an "outperform" rating in a report on Friday, February 23rd. William Blair reiterated a "market perform" rating on shares of Block in a report on Friday, February 23rd. Finally, TD Cowen boosted their price target on Block from $90.00 to $92.00 and gave the company a "buy" rating in a report on Friday, May 3rd. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and twenty-seven have given a buy rating to the company's stock. According to data from MarketBeat.com, Block currently has a consensus rating of "Moderate Buy" and an average price target of $87.59.

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.

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