Block, Inc. (NYSE:SQ) Shares Sold by Public Employees Retirement System of Ohio

Public Employees Retirement System of Ohio decreased its holdings in Block, Inc. (NYSE:SQ) by 9.2% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 247,222 shares of the technology company’s stock after selling 24,922 shares during the quarter. Public Employees Retirement System of Ohio’s holdings in Block were worth $20,910,000 as of its most recent filing with the SEC.

Several other institutional investors have also modified their holdings of SQ. Riverview Trust Co acquired a new stake in Block during the first quarter valued at approximately $28,000. Montag A & Associates Inc. grew its holdings in shares of Block by 843.2% during the fourth quarter. Montag A & Associates Inc. now owns 349 shares of the technology company’s stock valued at $27,000 after purchasing an additional 312 shares during the last quarter. YHB Investment Advisors Inc. bought a new position in shares of Block during the first quarter valued at approximately $33,000. Tidemark LLC bought a new position in shares of Block during the fourth quarter valued at approximately $32,000. Finally, Vima LLC bought a new position in shares of Block during the fourth quarter valued at approximately $34,000. Institutional investors and hedge funds own 70.44% of the company’s stock.

Insider Activity

In other news, insider Chrysty Esperanza sold 2,500 shares of the stock in a transaction on Monday, July 15th. The stock was sold at an average price of $70.00, for a total value of $175,000.00. Following the completion of the sale, the insider now owns 92,048 shares in the company, valued at $6,443,360. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, insider Brian Grassadonia sold 5,155 shares of the company’s stock in a transaction on Tuesday, May 21st. The shares were sold at an average price of $71.26, for a total value of $367,345.30. Following the transaction, the insider now directly owns 599,150 shares of the company’s stock, valued at $42,695,429. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Chrysty Esperanza sold 2,500 shares of the company’s stock in a transaction on Monday, July 15th. The stock was sold at an average price of $70.00, for a total transaction of $175,000.00. Following the completion of the transaction, the insider now directly owns 92,048 shares in the company, valued at $6,443,360. The disclosure for this sale can be found here. Insiders sold 138,173 shares of company stock worth $9,363,222 over the last quarter. Corporate insiders own 10.49% of the company’s stock.

Block Price Performance

SQ opened at $62.98 on Tuesday. The stock has a fifty day moving average of $65.11 and a 200-day moving average of $70.40. The firm has a market capitalization of $38.86 billion, a P/E ratio of 78.90, a PEG ratio of 1.40 and a beta of 2.52. Block, Inc. has a 12-month low of $38.85 and a 12-month high of $87.52. 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 (NYSE:SQ) last released its earnings results on Thursday, May 2nd. The technology company reported $0.47 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.15 by $0.32. The company had revenue of $5.96 billion during the quarter, compared to analyst estimates of $5.75 billion. Block had a return on equity of 2.04% and a net margin of 2.18%. Equities analysts forecast that Block, Inc. will post 1.28 EPS for the current fiscal year.

Analysts Set New Price Targets

Several equities analysts have recently commented on the company. William Blair raised Block from a “market perform” rating to an “outperform” rating in a report on Thursday, July 18th. Morgan Stanley decreased their price objective on Block from $60.00 to $55.00 and set an “underweight” rating for the company in a report on Tuesday. Mizuho increased their price objective on Block from $99.00 to $106.00 and gave the stock a “buy” rating in a report on Wednesday, April 10th. Needham & Company LLC increased their price objective on Block from $95.00 to $105.00 and gave the stock a “buy” rating in a report on Friday, May 3rd. Finally, Macquarie reissued an “outperform” rating and issued a $100.00 price objective on shares of Block in a report on Friday. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and twenty-eight have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $87.25.

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.