B. Riley Wealth Advisors Inc. Has $821,000 Holdings in Block, Inc. (NYSE:SQ)

B. Riley Wealth Advisors Inc. lessened its position in Block, Inc. (NYSE:SQ) by 7.9% in the 2nd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 12,732 shares of the technology company’s stock after selling 1,095 shares during the quarter. B. Riley Wealth Advisors Inc.’s holdings in Block were worth $821,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in SQ. Vanguard Group Inc. grew its stake in Block by 0.9% during the 1st quarter. Vanguard Group Inc. now owns 36,511,250 shares of the technology company’s stock valued at $3,088,122,000 after acquiring an additional 318,549 shares in the last quarter. Capital World Investors increased its stake in Block by 4.7% in the 1st quarter. Capital World Investors now owns 13,096,614 shares of the technology company’s stock valued at $1,107,712,000 after buying an additional 582,826 shares during the period. Baillie Gifford & Co. lifted its position in Block by 45.7% in the 2nd quarter. Baillie Gifford & Co. now owns 10,085,229 shares of the technology company’s stock worth $650,396,000 after buying an additional 3,163,975 shares in the last quarter. Lone Pine Capital LLC lifted its position in Block by 13.9% in the 2nd quarter. Lone Pine Capital LLC now owns 7,670,523 shares of the technology company’s stock worth $494,672,000 after buying an additional 934,588 shares in the last quarter. Finally, Bares Capital Management Inc. boosted its stake 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 valued at $347,089,000 after buying an additional 87,826 shares during the period. Institutional investors and hedge funds own 70.44% of the company’s stock.

Analyst Ratings Changes

Several analysts recently issued reports on the company. Deutsche Bank Aktiengesellschaft increased their price objective on Block from $90.00 to $98.00 and gave the stock a “buy” rating in a report on Friday, July 12th. UBS Group cut their price target on Block from $100.00 to $92.00 and set a “buy” rating for the company in a research note on Tuesday, August 27th. Morgan Stanley lowered their price target on Block from $60.00 to $55.00 and set an “underweight” rating for the company in a research note on Tuesday, July 30th. William Blair raised shares of Block to a “strong-buy” rating in a research report on Wednesday, July 31st. Finally, Keefe, Bruyette & Woods decreased their target price 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 equities research analyst has rated the stock with a sell rating, seven have given a hold rating, twenty-four have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, Block currently has a consensus rating of “Moderate Buy” and a consensus target price of $87.31.

Block Stock Performance

Shares of NYSE SQ opened at $67.02 on Friday. The firm has a market capitalization of $41.35 billion, a price-to-earnings ratio of 87.04, a PEG ratio of 1.17 and a beta of 2.49. Block, Inc. has a one year low of $38.85 and a one year high of $87.52. The business has a fifty day simple moving average of $64.13 and a 200 day simple moving average of $68.11. The company has a current ratio of 1.82, a quick ratio of 1.82 and a debt-to-equity ratio of 0.26.

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

Insiders Place Their Bets

In other Block news, CFO Amrita Ahuja sold 1,147 shares of the company’s stock in a transaction on Monday, July 8th. The stock was sold at an average price of $66.57, for a total value of $76,355.79. Following the sale, the chief financial officer now directly owns 271,394 shares in the company, valued at $18,066,698.58. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. In other news, 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 transaction of $175,000.00. Following the completion of the sale, the insider now owns 92,048 shares of the company’s stock, valued at approximately $6,443,360. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, CFO Amrita Ahuja sold 1,147 shares of the stock in a transaction dated Monday, July 8th. The stock was sold at an average price of $66.57, for a total transaction of $76,355.79. Following the sale, the chief financial officer now directly owns 271,394 shares in the company, valued at approximately $18,066,698.58. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 28,861 shares of company stock worth $1,889,288 over the last quarter. Company insiders own 10.49% of the company’s stock.

Block 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.