Hexagon Capital Partners LLC Sells 211 Shares of Block, Inc. (NYSE:SQ)

Hexagon Capital Partners LLC lessened its stake in shares of Block, Inc. (NYSE:SQ) by 26.2% during the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor owned 594 shares of the technology company’s stock after selling 211 shares during the period. Hexagon Capital Partners LLC’s holdings in Block were worth $50,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also bought and sold shares of SQ. Norges Bank bought a new position in shares of Block in the fourth quarter valued at $528,996,000. Baillie Gifford & Co. lifted its stake in Block by 3,525.7% in the fourth quarter. Baillie Gifford & Co. now owns 5,935,002 shares of the technology company’s stock valued at $459,072,000 after acquiring an additional 5,771,310 shares during the last quarter. Lone Pine Capital LLC bought a new position in shares of Block in the 3rd quarter valued at about $172,001,000. Trivest Advisors Ltd acquired a new position in shares of Block during the 4th quarter worth about $157,021,000. Finally, Vanguard Group Inc. raised its holdings in shares of Block by 3.7% in the 4th quarter. Vanguard Group Inc. now owns 36,192,701 shares of the technology company’s stock valued at $2,799,505,000 after purchasing an additional 1,277,043 shares during the period. Institutional investors own 70.44% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on SQ shares. Canaccord Genuity Group reiterated a “buy” rating and set a $95.00 price target on shares of Block in a report on Friday, May 3rd. Robert W. Baird increased their price target on Block from $98.00 to $100.00 and gave the company an “outperform” rating in a research note on Friday, May 3rd. Wolfe Research upped their price objective on shares of Block from $95.00 to $100.00 and gave the company an “outperform” rating in a report on Thursday, April 11th. Monness Crespi & Hardt restated a “neutral” rating on shares of Block in a research note on Thursday, May 2nd. Finally, Wedbush reaffirmed an “outperform” rating and set a $90.00 target price on shares of Block in a report on Friday, May 3rd. 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.com, Block has a consensus rating of “Moderate Buy” and an average target price of $87.13.

Insider Activity

In related news, insider Brian Grassadonia sold 4,514 shares of the business’s stock in a transaction on Wednesday, April 3rd. The stock was sold at an average price of $78.41, for a total transaction of $353,942.74. Following the sale, the insider now owns 477,290 shares in the company, valued at approximately $37,424,308.90. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, CFO Amrita Ahuja sold 6,788 shares of the firm’s stock in a transaction on Tuesday, May 21st. The shares were sold at an average price of $71.26, for a total transaction of $483,712.88. Following the completion of the transaction, the chief financial officer now owns 282,886 shares of the company’s stock, valued at $20,158,456.36. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Brian Grassadonia sold 4,514 shares of the business’s stock in a transaction on Wednesday, April 3rd. The stock was sold at an average price of $78.41, for a total transaction 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 disclosure for this sale can be found here. In the last ninety days, insiders sold 131,403 shares of company stock worth $8,975,481. Insiders own 10.49% of the company’s stock.

Block Stock Down 1.0 %

SQ stock opened at $63.83 on Tuesday. The firm has a 50-day moving average price of $67.73 and a 200-day moving average price of $71.57. 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 has a market capitalization of $39.39 billion, a P/E ratio of 82.90, a price-to-earnings-growth ratio of 1.51 and a beta of 2.52.

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, topping analysts’ consensus estimates of $0.15 by $0.32. Block had a net margin of 2.18% and a return on equity of 2.04%. The business had revenue of $5.96 billion during the quarter, compared to analysts’ expectations of $5.75 billion. As a group, equities research analysts anticipate that Block, Inc. will post 1.28 EPS for the current fiscal year.

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.