Chicago Partners Investment Group LLC Sells 1,331 Shares of Block, Inc. (NYSE:SQ)

Chicago Partners Investment Group LLC decreased its holdings in shares of Block, Inc. (NYSE:SQ) by 26.2% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The firm owned 3,742 shares of the technology company’s stock after selling 1,331 shares during the period. Chicago Partners Investment Group LLC’s holdings in Block were worth $289,000 as of its most recent SEC filing.

Several other large investors also recently added to or reduced their stakes in the business. Montag A & Associates Inc. lifted its stake in Block by 843.2% during the fourth quarter. Montag A & Associates Inc. now owns 349 shares of the technology company’s stock worth $27,000 after purchasing an additional 312 shares during the last quarter. Front Row Advisors LLC lifted its stake in Block by 67,500.0% during 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 last quarter. Tidemark LLC bought a new stake in Block during the fourth quarter worth about $32,000. Cape Investment Advisory Inc. lifted its stake in Block by 419.0% during the fourth quarter. Cape Investment Advisory Inc. now owns 519 shares of the technology company’s stock worth $40,000 after purchasing an additional 419 shares during the last quarter. Finally, Headinvest LLC bought a new stake in Block during the third quarter worth about $44,000. Institutional investors own 70.44% of the company’s stock.

Block Stock Performance

SQ stock opened at $62.50 on Tuesday. The stock has a market capitalization of $38.57 billion, a PE ratio of 81.17, a price-to-earnings-growth ratio of 1.45 and a beta of 2.54. Block, Inc. has a 12-month low of $38.85 and a 12-month high of $87.52. The company has a current ratio of 1.64, a quick ratio of 1.64 and a debt-to-equity ratio of 0.16. The stock’s 50 day simple moving average is $69.91 and its 200 day simple moving average is $71.85.

Block (NYSE:SQ) last released its quarterly earnings data on Thursday, May 2nd. The technology company reported $0.47 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.15 by $0.32. The business had revenue of $5.96 billion for the quarter, compared to analysts’ expectations of $5.75 billion. Block had a return on equity of 2.04% and a net margin of 2.18%. As a group, research analysts forecast that Block, Inc. will post 1.28 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several research analysts have recently commented on the company. Truist Financial lifted their price objective on Block from $90.00 to $100.00 and gave the stock a “buy” rating in a report on Friday, February 23rd. Piper Sandler reiterated an “overweight” rating and issued a $88.00 price objective (up previously from $86.00) on shares of Block in a report on Friday, February 23rd. Needham & Company LLC lifted their price objective on Block from $95.00 to $105.00 and gave the stock a “buy” rating in a report on Friday, May 3rd. TD Cowen lifted their price objective on Block from $90.00 to $92.00 and gave the stock a “buy” rating in a report on Friday, May 3rd. Finally, Keefe, Bruyette & Woods lifted their price objective on Block from $74.00 to $78.00 and gave the stock a “market perform” rating in a report on Friday, February 23rd. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and twenty-seven have assigned a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $87.59.

Insider Buying and Selling at Block

In other Block news, CAO Ajmere Dale sold 500 shares of the business’s stock in a transaction on Monday, April 1st. The shares were sold at an average price of $84.75, for a total transaction of $42,375.00. Following the completion of the sale, the chief accounting officer now directly 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 this link. In other news, insider Brian Grassadonia sold 4,514 shares of the company’s stock in a transaction on Wednesday, April 3rd. The stock was sold at an average price of $78.41, for a total value of $353,942.74. Following the completion of the sale, the insider now directly owns 477,290 shares in the company, valued at approximately $37,424,308.90. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CAO Ajmere Dale sold 500 shares of the company’s stock in a transaction on 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 of the company’s stock, valued at $5,790,374.25. The disclosure for this sale can be found here. In the last ninety days, insiders sold 247,739 shares of company stock worth $18,584,747. Insiders own 10.49% of the company’s stock.

About Block

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.