Block, Inc. (NYSE:SQ) Shares Sold by Westwood Wealth Management

Westwood Wealth Management trimmed its position in Block, Inc. (NYSE:SQ) by 21.9% in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 3,560 shares of the technology company’s stock after selling 1,000 shares during the quarter. Westwood Wealth Management’s holdings in Block were worth $230,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. Riverview Trust Co acquired a new stake in Block during the 1st quarter worth about $28,000. YHB Investment Advisors Inc. acquired a new stake in Block during the first quarter worth about $33,000. Vima LLC acquired a new stake in Block during the fourth quarter worth about $34,000. LRI Investments LLC purchased a new position in Block during the first quarter valued at approximately $34,000. Finally, Unique Wealth Strategies LLC acquired a new position in Block in the second quarter valued at approximately $34,000. Institutional investors and hedge funds own 70.44% of the company’s stock.

Block Stock Up 0.5 %

SQ stock opened at $67.82 on Tuesday. The stock has a market cap of $41.85 billion, a P/E ratio of 88.08, a PEG ratio of 1.15 and a beta of 2.49. 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, Inc. has a twelve month low of $38.85 and a twelve month high of $87.52. The company’s 50 day moving average is $64.16 and its two-hundred day moving average is $68.90.

Block (NYSE:SQ) last announced its quarterly earnings results on Thursday, August 1st. The technology company reported $0.93 EPS for the quarter, topping 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 for the quarter, compared to analyst estimates of $6.27 billion. During the same period last year, the business earned $0.40 EPS. Block’s revenue for the quarter was up 11.2% compared to the same quarter last year. Research analysts expect that Block, Inc. will post 1.72 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on the stock. Benchmark reissued a “buy” rating and set a $99.00 price target on shares of Block in a report on Friday, August 2nd. The Goldman Sachs Group reissued a “buy” rating and issued a $80.00 price objective on shares of Block in a report on Monday, June 24th. BMO Capital Markets boosted their price target on shares of Block from $92.00 to $93.00 and gave the stock an “outperform” rating in a report on Friday, August 2nd. William Blair upgraded shares of Block to a “strong-buy” rating in a research report on Wednesday, July 31st. Finally, Keefe, Bruyette & Woods decreased their price target on shares of Block from $82.00 to $74.00 and set a “market perform” rating on the stock in a research note on Monday, July 8th. One research analyst has rated the stock with a sell rating, six have given a hold rating, twenty-four have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, Block presently has an average rating of “Moderate Buy” and an average target price of $87.34.

Insider Buying and Selling at Block

In related news, Director Roelof Botha bought 434,405 shares of the stock in a transaction on Tuesday, August 6th. The shares were bought at an average cost of $57.55 per share, for a total transaction of $25,000,007.75. Following the purchase, the director now owns 434,405 shares of the company’s stock, valued at approximately $25,000,007.75. The acquisition was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other news, CAO Ajmere Dale sold 500 shares of the business’s stock in a transaction dated Tuesday, August 13th. The shares were sold at an average price of $61.88, for a total transaction of $30,940.00. Following the transaction, the chief accounting officer now directly owns 92,366 shares in the company, valued at $5,715,608.08. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Roelof Botha acquired 434,405 shares of Block stock in a transaction that occurred on Tuesday, August 6th. The stock was purchased at an average price of $57.55 per share, with a total value of $25,000,007.75. Following the transaction, the director now owns 434,405 shares of the company’s stock, valued at $25,000,007.75. The disclosure for this purchase can be found here. Insiders sold a total of 28,179 shares of company stock valued at $1,833,962 in the last ninety days. 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.