EverSource Wealth Advisors LLC Sells 486 Shares of Block, Inc. (NYSE:SQ)

EverSource Wealth Advisors LLC trimmed its position in Block, Inc. (NYSE:SQ) by 46.4% in the 2nd quarter, Holdings Channel reports. The firm owned 561 shares of the technology company’s stock after selling 486 shares during the quarter. EverSource Wealth Advisors LLC’s holdings in Block were worth $35,000 at the end of the most recent reporting period.

Other large investors have also recently bought and sold shares of the company. Riverview Trust Co bought a new position in Block in the 1st quarter valued at $28,000. YHB Investment Advisors Inc. bought a new position in Block in the 1st quarter valued at $33,000. Vima LLC bought a new position in Block in the 4th quarter valued at $34,000. LRI Investments LLC bought a new position in Block in the 1st quarter valued at $34,000. Finally, Unique Wealth Strategies LLC bought a new stake in shares of Block during the 2nd quarter worth $34,000. 70.44% of the stock is owned by institutional investors.

Insider Activity at Block

In related news, CAO Ajmere Dale sold 471 shares of the business’s stock in a transaction dated Tuesday, July 2nd. The shares were sold at an average price of $64.37, for a total transaction of $30,318.27. Following the transaction, the chief accounting officer now owns 92,866 shares in the company, valued at $5,977,784.42. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In related news, CAO Ajmere Dale sold 471 shares of the business’s stock in a transaction dated Tuesday, July 2nd. The shares were sold at an average price of $64.37, for a total transaction of $30,318.27. Following the sale, the chief accounting officer now owns 92,866 shares of the company’s stock, valued at $5,977,784.42. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Amrita Ahuja sold 5,277 shares of the business’s stock in a transaction dated Tuesday, July 2nd. The stock was sold at an average price of $64.13, for a total transaction of $338,414.01. Following the sale, the chief financial officer now directly owns 274,410 shares in the company, valued at approximately $17,597,913.30. The disclosure for this sale can be found here. Insiders have sold 28,179 shares of company stock worth $1,833,962 over the last 90 days. 10.49% of the stock is owned by company insiders.

Block Price Performance

SQ stock opened at $66.97 on Friday. Block, Inc. has a 12-month low of $38.85 and a 12-month high of $87.52. The company has a current ratio of 1.82, a quick ratio of 1.82 and a debt-to-equity ratio of 0.26. The firm’s 50-day moving average price is $63.88 and its two-hundred day moving average price is $68.66. The stock has a market capitalization of $41.23 billion, a price-to-earnings ratio of 86.98, a PEG ratio of 1.18 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, beating 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 company had revenue of $6.16 billion for the quarter, compared to analysts’ expectations of $6.27 billion. During the same quarter in the previous year, the company earned $0.40 earnings per share. Block’s quarterly revenue was up 11.2% on a year-over-year basis. As a group, equities analysts predict that Block, Inc. will post 1.72 earnings per share for the current year.

Wall Street Analysts Forecast Growth

SQ has been the subject of a number of research analyst reports. Deutsche Bank Aktiengesellschaft lifted their price objective on shares of Block from $90.00 to $98.00 and gave the stock a “buy” rating in a report on Friday, July 12th. Benchmark reaffirmed a “buy” rating and set a $99.00 price objective on shares of Block in a report on Friday, August 2nd. 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. UBS Group dropped their price objective on shares of Block from $100.00 to $92.00 and set a “buy” rating for the company in a report on Tuesday, August 27th. Finally, Susquehanna reaffirmed a “positive” rating and set a $100.00 price objective on shares of Block in a report on Wednesday, June 26th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating, twenty-four have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $87.34.

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.