Atomi Financial Group Inc. Has $560,000 Stock Holdings in Block, Inc. (NYSE:SQ)

Atomi Financial Group Inc. grew its holdings in Block, Inc. (NYSE:SQ) by 6.8% in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 8,691 shares of the technology company’s stock after buying an additional 557 shares during the quarter. Atomi Financial Group Inc.’s holdings in Block were worth $560,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in SQ. Bares Capital Management Inc. boosted its holdings in Block by 2.0% in the fourth quarter. Bares Capital Management Inc. now owns 4,487,251 shares of the technology company’s stock valued at $347,089,000 after acquiring an additional 87,826 shares during the last quarter. Trivest Advisors Ltd bought a new position in Block in the fourth quarter valued at about $157,021,000. Vanguard Group Inc. boosted its holdings in Block by 3.7% in the fourth quarter. Vanguard Group Inc. now owns 36,192,701 shares of the technology company’s stock valued at $2,799,505,000 after acquiring an additional 1,277,043 shares during the last quarter. &PARTNERS boosted its holdings in Block by 8.3% in the first quarter. &PARTNERS now owns 8,641 shares of the technology company’s stock valued at $731,000 after acquiring an additional 659 shares during the last quarter. Finally, Cibc World Markets Corp bought a new position in Block in the fourth quarter valued at about $1,184,000. 70.44% of the stock is currently owned by institutional investors and hedge funds.

Block Stock Down 1.3 %

Shares of Block stock traded down $0.88 on Wednesday, reaching $65.76. 421,059 shares of the company were exchanged, compared to its average volume of 8,612,110. Block, Inc. has a one year low of $38.85 and a one year high of $87.52. The company has a market capitalization of $40.58 billion, a price-to-earnings ratio of 86.55, a PEG ratio of 1.15 and a beta of 2.52. 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 company has a 50-day moving average of $64.08 and a 200 day moving average of $69.87.

Block (NYSE:SQ) last announced its quarterly earnings data 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. Block had a return on equity of 3.77% and a net margin of 3.47%. 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 prior year, the business posted $0.40 EPS. The business’s revenue was up 11.2% compared to the same quarter last year. On average, equities research analysts forecast that Block, Inc. will post 1.72 earnings per share for the current year.

Insider Activity at Block

In other Block news, Director Roelof Botha purchased 434,405 shares of the company’s stock in a transaction that occurred on Tuesday, August 6th. The shares were acquired at an average price of $57.55 per share, for a total transaction of $25,000,007.75. Following the purchase, the director now owns 434,405 shares in the company, valued at $25,000,007.75. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other news, Director Roelof Botha acquired 434,405 shares of the firm’s stock in a transaction on Tuesday, August 6th. The shares were purchased at an average cost of $57.55 per share, with a total value of $25,000,007.75. Following the acquisition, the director now directly owns 434,405 shares in the company, valued at approximately $25,000,007.75. The purchase was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Brian Grassadonia sold 1,889 shares of the company’s stock in a transaction on Tuesday, July 2nd. The shares were sold at an average price of $64.37, for a total value of $121,594.93. Following the completion of the transaction, the insider now directly owns 590,761 shares in the company, valued at $38,027,285.57. The disclosure for this sale can be found here. In the last quarter, insiders have sold 28,179 shares of company stock worth $1,833,962. Company insiders own 10.49% of the company’s stock.

Analyst Upgrades and Downgrades

SQ has been the topic of a number of recent analyst reports. Susquehanna restated a “positive” rating and set a $100.00 target price on shares of Block in a report on Wednesday, June 26th. Needham & Company LLC reduced their target price on Block from $105.00 to $80.00 and set a “buy” rating on the stock in a report on Monday, August 5th. Monness Crespi & Hardt restated a “neutral” rating on shares of Block in a report on Thursday, May 2nd. Benchmark restated a “buy” rating and set a $99.00 target price on shares of Block in a report on Friday, August 2nd. Finally, Keefe, Bruyette & Woods reduced their target price on Block from $82.00 to $74.00 and set a “market perform” rating on the stock in a report on Monday, July 8th. One investment 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 assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $87.52.

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.