Pursue Wealth Partners LLC Lowers Stock Holdings in Block, Inc. (NYSE:SQ)

Pursue Wealth Partners LLC trimmed its stake in Block, Inc. (NYSE:SQ) by 8.9% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 40,406 shares of the technology company’s stock after selling 3,930 shares during the period. Block comprises 2.0% of Pursue Wealth Partners LLC’s holdings, making the stock its 16th biggest holding. Pursue Wealth Partners LLC’s holdings in Block were worth $3,125,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors also recently added to or reduced their stakes in SQ. Washington Trust Advisors Inc. lifted its position in shares of Block by 38.7% in the 4th quarter. Washington Trust Advisors Inc. now owns 616 shares of the technology company’s stock worth $48,000 after purchasing an additional 172 shares during the period. Dynamic Advisor Solutions LLC lifted its position in Block by 2.9% during the fourth quarter. Dynamic Advisor Solutions LLC now owns 6,328 shares of the technology company’s stock valued at $489,000 after acquiring an additional 180 shares during the last quarter. WP Advisors LLC lifted its position in Block by 3.9% during the fourth quarter. WP Advisors LLC now owns 5,381 shares of the technology company’s stock valued at $416,000 after acquiring an additional 200 shares during the last quarter. Larson Financial Group LLC lifted its position in Block by 38.4% during the third quarter. Larson Financial Group LLC now owns 728 shares of the technology company’s stock valued at $32,000 after acquiring an additional 202 shares during the last quarter. Finally, Diversified Trust Co lifted its position in Block by 0.4% during the fourth quarter. Diversified Trust Co now owns 57,232 shares of the technology company’s stock valued at $4,427,000 after acquiring an additional 209 shares during the last quarter. 70.44% of the stock is owned by hedge funds and other institutional investors.

Block Price Performance

Shares of NYSE:SQ traded up $1.69 during midday trading on Friday, hitting $74.48. The company’s stock had a trading volume of 4,649,162 shares, compared to its average volume of 6,455,119. The business’s 50 day simple moving average is $77.39 and its 200 day simple moving average is $67.26. The company has a debt-to-equity ratio of 0.22, a quick ratio of 1.90 and a current ratio of 1.90. The company has a market cap of $45.86 billion, a P/E ratio of 438.12, a price-to-earnings-growth ratio of 2.06 and a beta of 2.55. Block, Inc. has a 12-month low of $38.85 and a 12-month high of $87.52.

Block (NYSE:SQ) last released its quarterly earnings data on Thursday, February 22nd. The technology company reported $0.03 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.02 by $0.01. Block had a net margin of 0.04% and a return on equity of 0.63%. The firm had revenue of $5.77 billion during the quarter, compared to analysts’ expectations of $5.69 billion. On average, analysts forecast that Block, Inc. will post 1.11 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on SQ. Royal Bank of Canada upped their price target on shares of Block from $77.00 to $88.00 and gave the company an “outperform” rating in a research note on Friday, February 23rd. Benchmark upped their price target on shares of Block from $89.00 to $99.00 and gave the company a “buy” rating in a research note on Thursday, April 4th. Wedbush restated an “outperform” rating and set a $90.00 price target on shares of Block in a research note on Tuesday, February 20th. Keefe, Bruyette & Woods increased their price objective on shares of Block from $74.00 to $78.00 and gave the stock a “market perform” rating in a research note on Friday, February 23rd. Finally, Seaport Res Ptn upgraded shares of Block from a “neutral” rating to a “buy” rating in a research note on Friday, February 23rd. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and twenty-eight have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $85.67.

Insider Buying and Selling

In related news, insider Brian Grassadonia sold 127,800 shares of the firm’s stock in a transaction dated Tuesday, February 20th. The shares were sold at an average price of $65.45, for a total transaction of $8,364,510.00. Following the completion of the sale, the insider now directly owns 405,224 shares in the company, valued at $26,521,910.80. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. In related news, CFO Amrita Ahuja sold 2,581 shares of Block stock in a transaction that occurred on Wednesday, February 21st. The shares were sold at an average price of $64.30, for a total value of $165,958.30. Following the completion of the transaction, the chief financial officer now owns 201,754 shares in the company, valued at $12,972,782.20. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Brian Grassadonia sold 127,800 shares of Block stock in a transaction that occurred on Tuesday, February 20th. The shares were sold at an average price of $65.45, for a total transaction of $8,364,510.00. Following the completion of the transaction, the insider now owns 405,224 shares of the company’s stock, valued at approximately $26,521,910.80. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 363,801 shares of company stock worth $27,284,175. Insiders own 10.79% of the company’s stock.

About Block

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.