Block, Inc. (NYSE:SQ) Shares Sold by Azzad Asset Management Inc. ADV

Azzad Asset Management Inc. ADV trimmed its holdings in Block, Inc. (NYSE:SQ) by 15.0% in the second quarter, HoldingsChannel.com reports. The firm owned 4,780 shares of the technology company’s stock after selling 843 shares during the quarter. Azzad Asset Management Inc. ADV’s holdings in Block were worth $308,000 as of its most recent SEC filing.

Several other hedge funds also recently added to or reduced their stakes in the stock. International Assets Investment Management LLC acquired a new position in shares of Block in the 4th quarter valued at $112,000,000. GAMMA Investing LLC acquired a new position in Block in the fourth quarter valued at $75,000. Yousif Capital Management LLC boosted its stake in Block by 4.2% in the fourth quarter. Yousif Capital Management LLC now owns 6,439 shares of the technology company’s stock valued at $498,000 after acquiring an additional 257 shares in the last quarter. Atria Wealth Solutions Inc. lifted its holdings in shares of Block by 12.8% in the 4th quarter. Atria Wealth Solutions Inc. now owns 16,720 shares of the technology company’s stock valued at $1,293,000 after purchasing an additional 1,897 shares during the last quarter. Finally, Truist Financial Corp raised its position in Block by 8.1% in the 4th quarter. Truist Financial Corp now owns 145,365 shares of the technology company’s stock valued at $11,244,000 after purchasing an additional 10,921 shares during the last quarter. 70.44% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other news, CAO Ajmere Dale sold 471 shares of Block stock in a transaction dated Tuesday, July 2nd. The stock was sold at an average price of $64.37, for a total value of $30,318.27. Following the transaction, the chief accounting officer now directly owns 92,866 shares of the company’s stock, valued at approximately $5,977,784.42. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, CFO Amrita Ahuja sold 5,277 shares of the firm’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 sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, CAO Ajmere Dale sold 471 shares of the company’s stock in a transaction that occurred on Tuesday, July 2nd. The stock was sold at an average price of $64.37, for a total value of $30,318.27. Following the completion of the transaction, the chief accounting officer now owns 92,866 shares of the company’s stock, valued at approximately $5,977,784.42. The disclosure for this sale can be found here. Insiders sold 28,179 shares of company stock valued at $1,833,962 in the last ninety days. Company insiders own 10.49% of the company’s stock.

Block Stock Down 0.5 %

Shares of NYSE:SQ opened at $66.07 on Friday. 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 has a market cap of $40.68 billion, a price-to-earnings ratio of 85.81, a PEG ratio of 1.15 and a beta of 2.52. The stock’s 50-day moving average price is $64.27 and its two-hundred day moving average price is $69.79. Block, Inc. has a 12-month low of $38.85 and a 12-month high of $87.52.

Block (NYSE:SQ) last released its earnings results on Thursday, August 1st. The technology company reported $0.93 earnings per share (EPS) 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 business had revenue of $6.16 billion for the quarter, compared to analysts’ expectations of $6.27 billion. During the same period last year, the company earned $0.40 earnings per share. The company’s quarterly revenue was up 11.2% on a year-over-year basis. On average, research analysts forecast that Block, Inc. will post 1.72 EPS for the current year.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on SQ. Susquehanna restated a “positive” rating and issued a $100.00 price target on shares of Block in a research report on Wednesday, June 26th. Needham & Company LLC cut their price target on Block from $105.00 to $80.00 and set a “buy” rating for the company in a research note on Monday, August 5th. Citigroup lifted their price objective on shares of Block from $86.00 to $90.00 and gave the company a “buy” rating in a research report on Monday, May 6th. Macquarie reissued an “outperform” rating and issued a $100.00 price objective on shares of Block in a research note on Friday, July 26th. Finally, Robert W. Baird raised their target price on shares of Block from $98.00 to $100.00 and gave the stock an “outperform” rating in a research note on Friday, May 3rd. One analyst has rated the stock with a sell rating, five have assigned a hold rating, twenty-five have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $87.52.

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.