Gladstone Institutional Advisory LLC Invests $641,000 in Block, Inc. (NYSE:SQ)

Gladstone Institutional Advisory LLC acquired a new stake in Block, Inc. (NYSE:SQFree Report) during the 4th quarter, Holdings Channel.com reports. The firm acquired 8,291 shares of the technology company’s stock, valued at approximately $641,000.

Several other large investors have also bought and sold shares of SQ. Norges Bank bought a new position in Block in the fourth quarter valued at $528,996,000. Baillie Gifford & Co. increased its holdings in Block by 3,525.7% in the 4th quarter. Baillie Gifford & Co. now owns 5,935,002 shares of the technology company’s stock valued at $459,072,000 after buying an additional 5,771,310 shares during the period. Lone Pine Capital LLC bought a new position in Block in the 3rd quarter valued at about $172,001,000. Trivest Advisors Ltd bought a new stake in shares of Block during the 4th quarter valued at approximately $157,021,000. Finally, Qube Research & Technologies Ltd grew its holdings in shares of Block by 72.8% during the 3rd quarter. Qube Research & Technologies Ltd now owns 2,683,346 shares of the technology company’s stock valued at $118,765,000 after purchasing an additional 1,130,925 shares during the last quarter. 70.44% of the stock is currently owned by institutional investors and hedge funds.

Block Stock Performance

NYSE SQ opened at $67.34 on Thursday. The stock’s fifty day moving average is $75.76 and its two-hundred day moving average is $70.76. The firm has a market capitalization of $41.55 billion, a P/E ratio of 87.46, a price-to-earnings-growth ratio of 1.66 and a beta of 2.57. The company has a debt-to-equity ratio of 0.16, a quick ratio of 1.64 and a current ratio of 1.64. Block, Inc. has a fifty-two week low of $38.85 and a fifty-two week high of $87.52.

Block (NYSE:SQGet Free Report) last announced its quarterly 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. The business had revenue of $5.77 billion for the quarter, compared to analyst estimates of $5.69 billion. Block had a return on equity of 2.04% and a net margin of 2.18%. On average, research analysts anticipate that Block, Inc. will post 1.29 earnings per share for the current year.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on the stock. Wedbush reiterated an “outperform” rating and set a $90.00 target price on shares of Block in a research report on Friday, May 3rd. Wolfe Research boosted their target price 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. Canaccord Genuity Group restated a “buy” rating and set a $95.00 price target on shares of Block in a research note on Friday, May 3rd. Citigroup upped their price objective on shares of Block from $86.00 to $90.00 and gave the stock a “buy” rating in a report on Monday, May 6th. Finally, Evercore ISI reiterated an “in-line” rating and issued a $75.00 target price on shares of Block in a report on Tuesday, March 26th. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and twenty-seven have given a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $87.59.

Check Out Our Latest Report on Block

Insiders Place Their Bets

In other Block news, CAO Ajmere Dale sold 500 shares of the company’s stock in a transaction dated Monday, April 1st. The stock was sold at an average price of $84.75, for a total transaction of $42,375.00. Following the sale, the chief accounting officer now owns 68,323 shares in the company, valued at approximately $5,790,374.25. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In other Block news, CFO Amrita Ahuja sold 4,170 shares of the stock in a transaction that occurred on 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 sale, the chief financial officer now directly owns 193,192 shares of the company’s stock, valued at approximately $15,231,257.28. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CAO Ajmere Dale sold 500 shares of the firm’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 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. Insiders have sold a total of 346,432 shares of company stock worth $26,390,936 in the last quarter. 10.49% of the stock is owned by company insiders.

Block Profile

(Free Report)

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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Institutional Ownership by Quarter for Block (NYSE:SQ)

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