Boomfish Wealth Group LLC Has $837,000 Stake in Block, Inc. (NYSE:SQ)

Boomfish Wealth Group LLC reduced its holdings in Block, Inc. (NYSE:SQ) by 4.9% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 12,471 shares of the technology company’s stock after selling 640 shares during the period. Boomfish Wealth Group LLC’s holdings in Block were worth $837,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Creative Planning increased its stake in shares of Block by 10.5% in the 3rd quarter. Creative Planning now owns 73,399 shares of the technology company’s stock valued at $4,927,000 after acquiring an additional 6,990 shares during the last quarter. Procyon Advisors LLC boosted its stake in Block by 14.4% during the 3rd quarter. Procyon Advisors LLC now owns 25,122 shares of the technology company’s stock worth $1,686,000 after acquiring an additional 3,159 shares during the last quarter. Polianta Ltd acquired a new position in Block during the third quarter valued at approximately $1,114,000. Martin Capital Advisors LLP increased its stake in Block by 0.9% in the third quarter. Martin Capital Advisors LLP now owns 33,392 shares of the technology company’s stock valued at $2,242,000 after purchasing an additional 285 shares in the last quarter. Finally, Stonekeep Investments LLC acquired a new stake in Block in the third quarter worth $255,000. Institutional investors own 70.44% of the company’s stock.

Wall Street Analyst Weigh In

SQ has been the subject of several research analyst reports. Benchmark reissued a “buy” rating and issued a $99.00 price target on shares of Block in a report on Friday, August 2nd. Susquehanna reissued a “positive” rating and issued a $100.00 target price on shares of Block in a research note on Wednesday, June 26th. BMO Capital Markets dropped their price target on Block from $93.00 to $92.00 and set an “outperform” rating on the stock in a research report on Thursday, October 3rd. Royal Bank of Canada reiterated an “outperform” rating and set a $88.00 price objective on shares of Block in a report on Friday, August 2nd. Finally, Oppenheimer began coverage on shares of Block in a report on Tuesday, October 1st. They set a “market perform” rating on the stock. One analyst has rated the stock with a sell rating, six have assigned a hold rating, twenty-four have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, Block has an average rating of “Moderate Buy” and an average target price of $88.79.

Block Stock Performance

NYSE SQ opened at $71.67 on Tuesday. The firm has a market capitalization of $44.12 billion, a P/E ratio of 55.99, a price-to-earnings-growth ratio of 0.93 and a beta of 2.49. 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 fifty day moving average price is $65.20 and its two-hundred day moving average price is $67.34. Block, Inc. has a 1 year low of $38.85 and a 1 year high of $87.52.

Block (NYSE:SQ) last released its quarterly earnings data on Thursday, August 1st. The technology company reported $0.93 earnings per share for the quarter, topping 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 analyst estimates of $6.27 billion. During the same period in the previous year, the business earned $0.40 EPS. Block’s revenue for the quarter was up 11.2% compared to the same quarter last year. As a group, research analysts anticipate that Block, Inc. will post 1.71 EPS for the current year.

Insider Buying and Selling at Block

In other Block news, Director Roelof Botha bought 434,405 shares of Block stock in a transaction dated Tuesday, August 6th. The stock was bought at an average cost of $57.55 per share, for a total transaction of $25,000,007.75. Following the purchase, the director now owns 434,405 shares of the company’s stock, valued at $25,000,007.75. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Block news, CAO Ajmere Dale sold 500 shares of the stock in a transaction dated Tuesday, August 13th. The shares were sold at an average price of $61.88, for a total value of $30,940.00. Following the transaction, the chief accounting officer now directly owns 92,366 shares of the company’s stock, valued at $5,715,608.08. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Roelof Botha acquired 434,405 shares of the business’s stock in a transaction on Tuesday, August 6th. The shares were bought at an average price of $57.55 per share, with a total value of $25,000,007.75. Following the completion of the transaction, the director now directly owns 434,405 shares of the company’s stock, valued at approximately $25,000,007.75. The disclosure for this purchase can be found here. Insiders have sold 25,214 shares of company stock worth $1,637,932 over the last 90 days. Company insiders own 10.49% of the company’s stock.

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.