AXS Investments LLC Purchases New Shares in Block, Inc. (NYSE:SQ)

AXS Investments LLC purchased a new position in Block, Inc. (NYSE:SQ - Free Report) during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund purchased 19,694 shares of the technology company's stock, valued at approximately $1,523,000.

Several other hedge funds have also bought and sold shares of SQ. Montag A & Associates Inc. grew its holdings in Block by 843.2% during the 4th quarter. Montag A & Associates Inc. now owns 349 shares of the technology company's stock valued at $27,000 after purchasing an additional 312 shares during the last quarter. Tidemark LLC purchased a new stake in shares of Block in the fourth quarter worth approximately $32,000. Valley National Advisers Inc. lifted its stake in shares of Block by 72.3% during the 4th quarter. Valley National Advisers Inc. now owns 610 shares of the technology company's stock worth $47,000 after acquiring an additional 256 shares during the last quarter. Washington Trust Advisors Inc. grew its position 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 acquiring an additional 172 shares during the last quarter. Finally, Front Row Advisors LLC increased its stake in 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 purchasing an additional 675 shares during the period. Hedge funds and other institutional investors own 70.44% of the company's stock.

Block Trading Down 1.0 %

Shares of NYSE:SQ traded down $0.68 during midday trading on Thursday, reaching $66.66. 6,717,086 shares of the company's stock were exchanged, compared to its average volume of 9,771,003. The firm's 50 day simple moving average is $75.47 and its two-hundred day simple moving average is $70.73. The company has a debt-to-equity ratio of 0.16, a current ratio of 1.64 and a quick ratio of 1.64. The stock has a market cap of $41.13 billion, a price-to-earnings ratio of 86.57, a P/E/G ratio of 1.66 and a beta of 2.57. 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 issued its quarterly earnings data on Thursday, May 2nd. The technology company reported $0.47 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.15 by $0.32. The firm had revenue of $5.96 billion during the quarter, compared to the consensus estimate of $5.75 billion. Block had a return on equity of 2.04% and a net margin of 2.18%. As a group, sell-side analysts forecast that Block, Inc. will post 1.29 EPS for the current fiscal year.

Insider Buying and Selling at Block

In other Block news, CAO Ajmere Dale sold 500 shares of Block stock in a transaction dated 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 approximately $5,790,374.25. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other Block news, CFO Amrita Ahuja sold 4,170 shares of the business's stock in a transaction that occurred on Tuesday, April 2nd. The stock was sold at an average price of $78.84, for a total value of $328,762.80. Following the completion of the sale, the chief financial officer now owns 193,192 shares in the company, valued at $15,231,257.28. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, CAO Ajmere Dale sold 500 shares of the business's stock in a transaction that occurred on Monday, April 1st. The shares were sold at an average price of $84.75, for a total value of $42,375.00. Following the completion of the sale, the chief accounting officer now owns 68,323 shares of the company's stock, valued at approximately $5,790,374.25. The disclosure for this sale can be found here. Insiders sold a total of 359,653 shares of company stock valued at $27,333,065 in the last three months. 10.49% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

A number of research firms have recently commented on SQ. Wells Fargo & Company upgraded shares of Block from an "equal weight" rating to an "overweight" rating and set a $95.00 price target on the stock in a report on Friday, February 23rd. Royal Bank of Canada increased their price target on shares of Block from $77.00 to $88.00 and gave the company an "outperform" rating in a research report on Friday, February 23rd. Wolfe Research increased their price target on shares of Block from $95.00 to $100.00 and gave the company an "outperform" rating in a research report on Thursday, April 11th. Susquehanna reissued a "positive" rating and set a $100.00 price target on shares of Block in a research report on Monday, April 22nd. Finally, KeyCorp upped their price objective on shares of Block from $80.00 to $95.00 and gave the company an "overweight" rating in a report on Wednesday, March 27th. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and twenty-seven have assigned a buy rating to the company's stock. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus price target of $87.59.

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.