Block, Inc. (NYSE:SQ) Shares Bought by Caprock Group LLC

Caprock Group LLC grew its position in Block, Inc. (NYSE:SQ) by 1,831.5% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 57,191 shares of the technology company’s stock after buying an additional 54,230 shares during the quarter. Caprock Group LLC’s holdings in Block were worth $3,688,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also recently bought and sold shares of SQ. Montag A & Associates Inc. grew its stake in Block by 843.2% during the 4th quarter. Montag A & Associates Inc. now owns 349 shares of the technology company’s stock worth $27,000 after buying an additional 312 shares during the last quarter. Riverview Trust Co purchased a new stake in shares of Block during the first quarter worth approximately $28,000. Tidemark LLC acquired a new stake in shares of Block in the 4th quarter worth $32,000. YHB Investment Advisors Inc. acquired a new stake in Block in the first quarter valued at about $33,000. Finally, Vima LLC purchased a new stake in Block in the 4th quarter valued at approximately $34,000. Institutional investors and hedge funds own 70.44% of the company’s stock.

Analysts Set New Price Targets

A number of research firms recently commented on SQ. Morgan Stanley decreased their price objective on shares of Block from $60.00 to $55.00 and set an “underweight” rating on the stock in a report on Tuesday, July 30th. Royal Bank of Canada reaffirmed an “outperform” rating and set a $88.00 price objective on shares of Block in a report on Friday, August 2nd. The Goldman Sachs Group reissued a “buy” rating and issued a $80.00 target price on shares of Block in a report on Monday, June 24th. Benchmark reissued a “buy” rating and issued a $99.00 price objective on shares of Block in a research note on Friday, August 2nd. Finally, Susquehanna reaffirmed a “positive” rating and issued a $100.00 price target on shares of Block in a report on Wednesday, June 26th. One analyst has rated the stock with a sell rating, five have given a hold rating, twenty-five have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, Block has an average rating of “Moderate Buy” and an average target price of $87.52.

Insider Buying and Selling

In other Block news, insider Chrysty Esperanza sold 2,500 shares of the company’s stock in a transaction on Monday, July 15th. The stock was sold at an average price of $70.00, for a total value of $175,000.00. Following the transaction, the insider now owns 92,048 shares of the company’s stock, valued at $6,443,360. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other Block news, insider Brian Grassadonia sold 8,328 shares of the business’s stock in a transaction on Wednesday, August 21st. The shares were sold at an average price of $64.77, for a total transaction of $539,404.56. Following the sale, the insider now directly owns 580,086 shares of the company’s stock, valued at approximately $37,572,170.22. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Chrysty Esperanza sold 2,500 shares of the firm’s stock in a transaction on Monday, July 15th. The stock was 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 of the company’s stock, valued at approximately $6,443,360. The disclosure for this sale can be found here. Insiders have sold a total of 28,179 shares of company stock valued at $1,833,962 over the last three months. Company insiders own 10.49% of the company’s stock.

Block Stock Down 5.2 %

SQ stock opened at $61.24 on Friday. The company has a debt-to-equity ratio of 0.26, a current ratio of 1.82 and a quick ratio of 1.82. Block, Inc. has a 1-year low of $38.85 and a 1-year high of $87.52. The firm has a fifty day moving average price of $64.28 and a two-hundred day moving average price of $69.72. The firm has a market cap of $37.79 billion, a price-to-earnings ratio of 79.53, a PEG ratio of 1.12 and a beta of 2.49.

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, topping analysts’ consensus estimates of $0.84 by $0.09. The company had revenue of $6.16 billion during the quarter, compared to analyst estimates of $6.27 billion. Block had a return on equity of 3.77% and a net margin of 3.47%. The firm’s quarterly revenue was up 11.2% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.40 EPS. Research analysts predict that Block, Inc. will post 1.72 EPS for the current 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.