Angeles Investment Advisors LLC Buys 176 Shares of Block, Inc. (NYSE:SQ)

Angeles Investment Advisors LLC increased its position in Block, Inc. (NYSE:SQ) by 2.4% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 7,377 shares of the technology company’s stock after purchasing an additional 176 shares during the quarter. Angeles Investment Advisors LLC’s holdings in Block were worth $476,000 as of its most recent SEC filing.

Other institutional investors also recently bought and sold shares of the company. Bares Capital Management Inc. grew its position in shares of Block by 2.0% during the 4th quarter. Bares Capital Management Inc. now owns 4,487,251 shares of the technology company’s stock worth $347,089,000 after buying an additional 87,826 shares in the last quarter. Vanguard Group Inc. lifted its stake in Block by 3.7% in the fourth quarter. Vanguard Group Inc. now owns 36,192,701 shares of the technology company’s stock worth $2,799,505,000 after acquiring an additional 1,277,043 shares during the period. &PARTNERS grew its holdings in Block by 8.3% during the 1st quarter. &PARTNERS now owns 8,641 shares of the technology company’s stock worth $731,000 after acquiring an additional 659 shares in the last quarter. Cibc World Markets Corp purchased a new position in Block during the 4th quarter valued at about $1,184,000. Finally, CHURCHILL MANAGEMENT Corp bought a new stake in shares of Block in the 1st quarter valued at about $2,487,000. 70.44% of the stock is currently owned by hedge funds and other institutional investors.

Block Stock Up 0.5 %

Block stock opened at $63.99 on Monday. Block, Inc. has a 52 week low of $38.85 and a 52 week high of $87.52. The firm has a market cap of $39.40 billion, a price-to-earnings ratio of 83.10, a price-to-earnings-growth ratio of 1.11 and a beta of 2.49. The business’s 50-day moving average price is $64.09 and its 200 day moving average price is $69.31. The company has a quick ratio of 1.82, a current ratio of 1.82 and a debt-to-equity ratio of 0.26.

Block (NYSE:SQ) last posted its earnings results on Thursday, August 1st. The technology company reported $0.93 earnings per share for the quarter, beating the consensus estimate of $0.84 by $0.09. Block had a net margin of 3.47% and a return on equity of 3.77%. The firm had revenue of $6.16 billion during the quarter, compared to analyst estimates of $6.27 billion. During the same period in the previous year, the firm earned $0.40 EPS. The business’s quarterly revenue was up 11.2% on a year-over-year basis. As a group, sell-side analysts anticipate that Block, Inc. will post 1.72 earnings per share for the current year.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on the stock. Deutsche Bank Aktiengesellschaft increased their price objective on shares of Block from $90.00 to $98.00 and gave the company a “buy” rating in a research note on Friday, July 12th. Morgan Stanley cut their price target on Block from $60.00 to $55.00 and set an “underweight” rating on the stock in a report on Tuesday, July 30th. Susquehanna restated a “positive” rating and set a $100.00 price objective on shares of Block in a research note on Wednesday, June 26th. UBS Group cut their target price on Block from $100.00 to $92.00 and set a “buy” rating on the stock in a research note on Tuesday, August 27th. Finally, Keefe, Bruyette & Woods decreased their price target on shares of Block from $82.00 to $74.00 and set a “market perform” rating for the company in a research report on Monday, July 8th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating, twenty-four have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $87.34.

Insider Buying and Selling at Block

In other news, insider Brian Grassadonia sold 1,889 shares of the firm’s stock in a transaction dated Tuesday, July 2nd. The stock was sold at an average price of $64.37, for a total transaction of $121,594.93. Following the sale, the insider now directly owns 590,761 shares in the company, valued at approximately $38,027,285.57. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In other Block news, insider Brian Grassadonia sold 1,889 shares of the stock in a transaction that occurred on Tuesday, July 2nd. The stock was sold at an average price of $64.37, for a total transaction of $121,594.93. Following the transaction, the insider now owns 590,761 shares in the company, valued at $38,027,285.57. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Chrysty Esperanza sold 2,500 shares of the firm’s stock in a transaction that occurred on Monday, July 15th. The shares were sold at an average price of $70.00, for a total value of $175,000.00. Following the completion of the sale, the insider now directly owns 92,048 shares in the company, valued at $6,443,360. The disclosure for this sale can be found here. Over the last quarter, insiders sold 28,179 shares of company stock valued at $1,833,962. Corporate insiders own 10.49% of the company’s stock.

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.