34,843 Shares in Block, Inc. (NYSE:SQ) Acquired by Clarity Capital Partners LLC

Clarity Capital Partners LLC acquired a new stake in Block, Inc. (NYSE:SQFree Report) during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 34,843 shares of the technology company’s stock, valued at approximately $2,695,000. Block comprises 1.9% of Clarity Capital Partners LLC’s investment portfolio, making the stock its 16th largest position.

Other institutional investors and hedge funds have also bought and sold shares of the company. Vanguard Group Inc. increased its stake in shares of Block by 1.7% in the third quarter. Vanguard Group Inc. now owns 34,915,658 shares of the technology company’s stock worth $1,545,367,000 after purchasing an additional 585,801 shares in the last quarter. Capital World Investors raised its holdings in Block by 1.7% during the 4th quarter. Capital World Investors now owns 12,513,788 shares of the technology company’s stock valued at $967,942,000 after acquiring an additional 212,218 shares during the period. ARK Investment Management LLC raised its holdings in Block by 9.2% during the 4th quarter. ARK Investment Management LLC now owns 11,887,628 shares of the technology company’s stock valued at $919,508,000 after acquiring an additional 1,000,514 shares during the period. Sumitomo Mitsui Trust Holdings Inc. lifted its position in shares of Block by 0.7% during the fourth quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 10,377,973 shares of the technology company’s stock worth $802,736,000 after acquiring an additional 75,161 shares in the last quarter. Finally, Nikko Asset Management Americas Inc. grew its position in shares of Block by 0.8% in the fourth quarter. Nikko Asset Management Americas Inc. now owns 8,982,862 shares of the technology company’s stock valued at $694,735,000 after purchasing an additional 71,735 shares in the last quarter. 70.44% of the stock is owned by institutional investors.

Insider Buying and Selling

In other Block news, insider Brian Grassadonia sold 111,666 shares of the firm’s stock in a transaction dated Monday, April 1st. The shares were sold at an average price of $82.73, for a total transaction of $9,238,128.18. Following the completion of the sale, the insider now directly owns 485,645 shares in the company, valued at approximately $40,177,410.85. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 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 value of $42,375.00. Following the completion of the sale, the chief accounting officer now owns 68,323 shares in the company, valued at $5,790,374.25. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, insider Brian Grassadonia sold 111,666 shares of Block stock in a transaction dated Monday, April 1st. The shares were sold at an average price of $82.73, for a total value of $9,238,128.18. Following the transaction, the insider now directly owns 485,645 shares in the company, valued at $40,177,410.85. The disclosure for this sale can be found here. Insiders have sold 247,739 shares of company stock worth $18,584,747 in the last 90 days. Insiders own 10.49% of the company’s stock.

Block Stock Down 0.4 %

SQ traded down $0.23 on Friday, hitting $62.13. The company had a trading volume of 4,912,840 shares, compared to its average volume of 9,461,871. The stock has a fifty day simple moving average of $70.23 and a 200-day simple moving average of $71.75. 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 firm has a market capitalization of $38.34 billion, a P/E ratio of 80.69, a P/E/G ratio of 1.51 and a beta of 2.54. Block, Inc. has a 52-week low of $38.85 and a 52-week high of $87.52.

Block (NYSE:SQGet Free Report) last posted 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. Block had a return on equity of 2.04% and a net margin of 2.18%. The business had revenue of $5.96 billion during the quarter, compared to the consensus estimate of $5.75 billion. As a group, equities analysts expect that Block, Inc. will post 1.28 EPS for the current fiscal year.

Analysts Set New Price Targets

SQ has been the subject of a number of analyst reports. Royal Bank of Canada raised their price objective 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. Wedbush reissued an “outperform” rating and issued a $90.00 price target on shares of Block in a report on Friday, May 3rd. Truist Financial upped their price target on shares of Block from $90.00 to $100.00 and gave the stock a “buy” rating in a report on Friday, February 23rd. William Blair reissued a “market perform” rating on shares of Block in a research note on Friday, February 23rd. Finally, Canaccord Genuity Group restated a “buy” rating and issued a $95.00 target price on shares of Block in a research note on Friday, May 3rd. One 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 data from MarketBeat.com, Block currently has an average rating of “Moderate Buy” and a consensus price target of $87.59.

Read Our Latest Report on Block

About Block

(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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