SteelPeak Wealth LLC Has $1.09 Million Position in Block, Inc. (NYSE:SQ)

SteelPeak Wealth LLC lowered its holdings in shares of Block, Inc. (NYSE:SQ) by 13.9% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 12,897 shares of the technology company’s stock after selling 2,079 shares during the quarter. SteelPeak Wealth LLC’s holdings in Block were worth $1,091,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also recently bought and sold shares of the company. Vanguard Group Inc. lifted its holdings in shares of Block by 3.7% during the fourth quarter. Vanguard Group Inc. now owns 36,192,701 shares of the technology company’s stock worth $2,799,505,000 after buying an additional 1,277,043 shares during the last quarter. Capital World Investors lifted its stake in shares of Block by 1.7% in the fourth quarter. Capital World Investors now owns 12,513,788 shares of the technology company’s stock valued at $967,942,000 after buying an additional 212,218 shares during the period. ARK Investment Management LLC grew its position in Block by 9.2% during the fourth quarter. ARK Investment Management LLC now owns 11,887,628 shares of the technology company’s stock worth $919,508,000 after buying an additional 1,000,514 shares in the last quarter. Sumitomo Mitsui Trust Holdings Inc. increased its stake in Block by 0.7% during the fourth quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 10,377,973 shares of the technology company’s stock valued at $802,736,000 after acquiring an additional 75,161 shares during the period. Finally, Nikko Asset Management Americas Inc. raised its holdings in Block by 0.8% in the 4th quarter. Nikko Asset Management Americas Inc. now owns 8,982,862 shares of the technology company’s stock valued at $694,735,000 after acquiring an additional 71,735 shares in the last quarter. 70.44% of the stock is currently owned by institutional investors.

Block Stock Performance

Shares of SQ stock opened at $64.49 on Monday. The company has a fifty day moving average price of $67.73 and a two-hundred day moving average price of $71.57. Block, Inc. has a one year low of $38.85 and a one year high of $87.52. The stock has a market cap of $39.79 billion, a P/E ratio of 83.75, a P/E/G ratio of 1.51 and a beta of 2.52. The company has a debt-to-equity ratio of 0.16, a current ratio of 1.64 and a quick ratio of 1.64.

Block (NYSE:SQ) last announced its quarterly earnings results on Thursday, May 2nd. The technology company reported $0.47 earnings per share for the quarter, topping analysts’ consensus estimates of $0.15 by $0.32. The firm had revenue of $5.96 billion for the quarter, compared to the consensus estimate of $5.75 billion. Block had a return on equity of 2.04% and a net margin of 2.18%. As a group, equities analysts predict that Block, Inc. will post 1.28 EPS for the current year.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on SQ shares. Morgan Stanley reissued an “underweight” rating and issued a $60.00 price target (down previously from $62.00) on shares of Block in a report on Thursday, April 4th. Susquehanna restated a “positive” rating and set a $100.00 price target on shares of Block in a research note on Wednesday, June 26th. Monness Crespi & Hardt reiterated a “neutral” rating on shares of Block in a research note on Thursday, May 2nd. KeyCorp raised their target price on Block from $80.00 to $95.00 and gave the stock an “overweight” rating in a research report on Wednesday, March 27th. Finally, Robert W. Baird upped their price target on Block from $98.00 to $100.00 and gave the company an “outperform” rating in a research report on Friday, May 3rd. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and twenty-seven have given a buy rating to the stock. According to data from MarketBeat, Block presently has an average rating of “Moderate Buy” and an average target price of $87.13.

Insider Buying and Selling at Block

In other news, CAO Ajmere Dale sold 1,278 shares of the stock in a transaction dated Tuesday, May 21st. The shares were sold at an average price of $71.26, for a total value of $91,070.28. Following the transaction, the chief accounting officer now directly owns 93,337 shares of the company’s stock, valued at $6,651,194.62. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other Block news, CFO Amrita Ahuja sold 4,170 shares of the stock in a transaction on Tuesday, April 2nd. The stock was sold at an average price of $78.84, for a total transaction of $328,762.80. Following the transaction, the chief financial officer now owns 193,192 shares in the company, valued at approximately $15,231,257.28. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CAO Ajmere Dale sold 1,278 shares of the company’s stock in a transaction dated Tuesday, May 21st. The shares were sold at an average price of $71.26, for a total transaction of $91,070.28. Following the completion of the transaction, the chief accounting officer now owns 93,337 shares in the company, valued at $6,651,194.62. The disclosure for this sale can be found here. Insiders sold 135,573 shares of company stock valued at $9,304,244 in the last quarter. 10.49% of the stock is currently owned by insiders.

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.