KRS Capital Management LLC Boosts Stake in Block, Inc. (NYSE:SQ)

KRS Capital Management LLC lifted its holdings in Block, Inc. (NYSE:SQ) by 75.2% during the first quarter, Holdings Channel reports. The institutional investor owned 5,487 shares of the technology company’s stock after purchasing an additional 2,355 shares during the quarter. KRS Capital Management LLC’s holdings in Block were worth $464,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Bouvel Investment Partners LLC raised its holdings in Block by 2.4% during the first quarter. Bouvel Investment Partners LLC now owns 18,033 shares of the technology company’s stock worth $1,525,000 after purchasing an additional 427 shares during the last quarter. Procyon Advisors LLC raised its holdings in Block by 27.6% during the first quarter. Procyon Advisors LLC now owns 22,318 shares of the technology company’s stock worth $1,888,000 after purchasing an additional 4,831 shares during the last quarter. Wealthcare Advisory Partners LLC raised its holdings in shares of Block by 1.3% in the first quarter. Wealthcare Advisory Partners LLC now owns 10,618 shares of the technology company’s stock worth $898,000 after acquiring an additional 139 shares during the last quarter. Future Financial Wealth Managment LLC acquired a new position in shares of Block in the first quarter worth $71,000. Finally, RMR Wealth Builders acquired a new position in shares of Block in the first quarter worth $225,000. 70.44% of the stock is owned by institutional investors and hedge funds.

Block Stock Up 1.7 %

Shares of NYSE SQ traded up $1.10 on Friday, hitting $64.49. The company had a trading volume of 6,802,597 shares, compared to its average volume of 6,686,015. The company has a quick ratio of 1.64, a current ratio of 1.64 and a debt-to-equity ratio of 0.16. Block, Inc. has a 12-month low of $38.85 and a 12-month high of $87.52. The business has a 50 day moving average of $67.73 and a two-hundred day moving average of $71.55. The firm has a market capitalization of $39.79 billion, a P/E ratio of 83.75, a PEG ratio of 1.48 and a beta of 2.54.

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

Analysts Set New Price Targets

SQ has been the subject of a number of analyst reports. Evercore ISI reissued an “in-line” rating and issued a $75.00 price target on shares of Block in a report on Tuesday, March 26th. Benchmark reissued a “buy” rating and issued a $99.00 price target on shares of Block in a report on Friday, May 3rd. Susquehanna reissued a “positive” rating and issued a $100.00 price target on shares of Block in a report on Wednesday. Citigroup boosted their price target on Block from $86.00 to $90.00 and gave the stock a “buy” rating in a report on Monday, May 6th. Finally, Mizuho lifted their price objective on Block from $99.00 to $106.00 and gave the company a “buy” rating in a research report on Wednesday, April 10th. 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 company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $87.13.

Insider Buying and Selling at Block

In other Block news, CAO Ajmere Dale sold 500 shares of the company’s stock in a transaction that occurred on Monday, April 1st. The stock was sold at an average price of $84.75, for a total transaction of $42,375.00. Following the sale, the chief accounting officer now owns 68,323 shares in the company, valued at $5,790,374.25. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In related news, insider Brian Grassadonia sold 111,666 shares of the stock in a transaction that occurred on Monday, April 1st. The stock was sold at an average price of $82.73, for a total value of $9,238,128.18. Following the completion of the transaction, the insider now directly owns 485,645 shares of the company’s stock, valued at approximately $40,177,410.85. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CAO Ajmere Dale sold 500 shares of the stock in a transaction that occurred on Monday, April 1st. The stock was sold at an average price of $84.75, for a total value of $42,375.00. Following the completion of the transaction, the chief accounting officer now directly owns 68,323 shares of the company’s stock, valued at $5,790,374.25. The disclosure for this sale can be found here. Insiders have sold 247,739 shares of company stock worth $18,584,747 over the last quarter. 10.49% of the stock is owned by corporate 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.