Block, Inc. (NYSE:SQ) Shares Sold by Arkadios Wealth Advisors

Arkadios Wealth Advisors decreased its holdings in Block, Inc. (NYSE:SQ – Get Rating) by 16.8% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 23,825 shares of the technology company’s stock after selling 4,805 shares during the quarter. Arkadios Wealth Advisors’ holdings in Block were worth $1,497,000 at the end of the most recent reporting period.

A number of other large investors also recently bought and sold shares of the business. White Knight Strategic Wealth Advisors LLC increased its stake in Block by 1.7% during the 2nd quarter. White Knight Strategic Wealth Advisors LLC now owns 8,856 shares of the technology company’s stock worth $544,000 after buying an additional 150 shares in the last quarter. Meiji Yasuda Life Insurance Co increased its stake in Block by 3.4% during the 2nd quarter. Meiji Yasuda Life Insurance Co now owns 5,109 shares of the technology company’s stock worth $314,000 after buying an additional 170 shares in the last quarter. Coastal Investment Advisors Inc. increased its stake in Block by 1.0% during the 3rd quarter. Coastal Investment Advisors Inc. now owns 17,038 shares of the technology company’s stock worth $937,000 after buying an additional 174 shares in the last quarter. Regal Investment Advisors LLC increased its stake in Block by 1.6% during the 3rd quarter. Regal Investment Advisors LLC now owns 11,648 shares of the technology company’s stock worth $641,000 after buying an additional 185 shares in the last quarter. Finally, Lincoln National Corp increased its stake in Block by 2.4% during the 3rd quarter. Lincoln National Corp now owns 7,968 shares of the technology company’s stock worth $438,000 after buying an additional 186 shares in the last quarter. Institutional investors and hedge funds own 59.49% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have commented on SQ. Mizuho upgraded Block from a “neutral” rating to a “buy” rating and boosted their price objective for the stock from $80.00 to $93.00 in a research note on Thursday. Truist Financial upped their price target on Block from $85.00 to $105.00 and gave the company a “buy” rating in a research report on Friday, January 20th. Barclays upped their price target on Block from $100.00 to $103.00 and gave the company an “overweight” rating in a research report on Monday, January 23rd. BNP Paribas initiated coverage on Block in a research report on Tuesday, February 28th. They issued an “underperform” rating for the company. Finally, Credit Suisse Group upped their price target on Block from $95.00 to $105.00 and gave the company an “outperform” rating in a research report on Friday, February 24th. Three analysts have rated the stock with a sell rating, five have given a hold rating and twenty-three have given a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $107.62.

Insider Buying and Selling at Block

In other Block news, insider Sivan Whiteley sold 2,716 shares of the firm’s stock in a transaction on Tuesday, January 3rd. The stock was sold at an average price of $64.28, for a total value of $174,584.48. Following the sale, the insider now directly owns 105,400 shares in the company, valued at $6,775,112. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. In other Block news, insider Alyssa Henry sold 30,769 shares of the firm’s stock in a transaction on Wednesday, December 28th. The stock was sold at an average price of $59.49, for a total value of $1,830,447.81. Following the sale, the insider now directly owns 422,617 shares in the company, valued at $25,141,485.33. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Sivan Whiteley sold 2,716 shares of the firm’s stock in a transaction on Tuesday, January 3rd. The shares were sold at an average price of $64.28, for a total value of $174,584.48. Following the completion of the sale, the insider now owns 105,400 shares in the company, valued at $6,775,112. The disclosure for this sale can be found here. Insiders have sold a total of 272,592 shares of company stock worth $20,272,270 over the last ninety days. Corporate insiders own 11.52% of the company’s stock.

Block Stock Down 1.5 %

Shares of NYSE SQ opened at $73.98 on Friday. The stock has a market cap of $44.54 billion, a P/E ratio of -77.87 and a beta of 2.35. The company has a current ratio of 1.85, a quick ratio of 1.85 and a debt-to-equity ratio of 0.24. Block, Inc. has a 12-month low of $51.34 and a 12-month high of $149.00. The business’s fifty day simple moving average is $76.88 and its 200-day simple moving average is $67.52.

Block (NYSE:SQ – Get Rating) last announced its quarterly earnings data on Thursday, February 23rd. The technology company reported ($0.23) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.16) by ($0.07). The company had revenue of $4.65 billion during the quarter, compared to analyst estimates of $4.53 billion. Block had a negative net margin of 3.11% and a negative return on equity of 2.28%. As a group, equities analysts predict that Block, Inc. will post -0.04 EPS for the current fiscal year.

About Block

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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.