Square, Inc. provides payment and point-of-sale solutions with a commerce ecosystem that includes point-of-sale software and hardware that turns mobile and computing devices into payment and point-of-sale solutions. Their hardware products include Square Stand, Magstripe reader, Contactless and chip reader, and Chip card reader. Additionally, Square Register combines their hardware, point-of-sale software, and payments technology to create a full point-of-sale solution, as well as managed payment solutions. If you want to see what other hedge funds are holding SQ, you can visit HoldingsChannel.com to get the latest 13F filings and insider trades for Block, Inc. (NYSE:SQ – Get Rating). Finally, if you wish to receive daily news and ratings for Block and related companies, you can enter your email address below to receive a concise daily summary of the latest news and analysts’ ratings with MarketBeat.com’s FREE daily email newsletter.
Maryland State Retirement & Pension System boosts stake in Block, Inc.
Maryland State Retirement & Pension System has increased its holdings in Block, Inc. (NYSE:SQ) by 2.9% in Q4 2022, according to the latest filing by the company. The move brings the institutional investor’s total stake in the technology company to an undisclosed amount.
Block, Inc. has also seen recent changes in its shareholding, with several other institutional investors and hedge funds making modifications to their holdings. Oxler Private Wealth LLC raised its stake by 95.7% during Q3 2022, while Ronald Blue Trust Inc. boosted its share by 72.5% in Q4. Householder Group Estate & Retirement Specialist LLC purchased a new position in Q3, with Armstrong Advisory Group Inc. and Heritage Wealth Management LLC doing the same in Q4 and Q2, respectively.
Institutional investors and hedge funds now own 59.49% of Block, Inc.’s stock.
Chief Accounting Officer Ajmere Dale has sold 1,032 shares of Block, Inc. (NYSE:SQ) stock at an average price of $64.28 on January 3rd, totaling $66,336.96. Dale now holds 46,892 shares of the company’s stock, valued at $3,014,217.76. Insider Alyssa Henry also sold 30,769 shares on December 28th at an average price of $59.49, worth $1,830,447.81. After the sale, Henry owns 422,617 shares, valued at approximately $25,141,485.33.
Insider selling has been a significant factor in the last quarter, with insiders selling 303,361 shares worth $22,613,175. As of now, 11.52% of the stock is owned by insiders.
Block stock performance has seen ups and downs, with shares opening at $60.68 on Friday. The company’s 50-day simple moving average is $76.74, while its 200-day simple moving average is $67.60. The company has a quick ratio and current ratio of 1.85 each and a debt-to-equity ratio of 0.24. Block, Inc.’s one-year low stands at $51.34 and the one-year high is $149.00.
Block Q4 2022 earnings and analyst ratings changes
Block, Inc. (NYSE:SQ) reported earnings data for Q4 2022 on February 23rd, with earnings per share (EPS) at ($0.23), falling short of the consensus estimate of ($0.16) by ($0.07). The company’s negative net margin of 3.11% and negative return on equity of 2.28% were also causes for concern. However, Block’s revenue for the quarter stood at $4.65 billion, beating the consensus estimate of $4.53 billion. Analysts anticipate that the company will post -0.04 EPS for the current fiscal year.
In recent analyst ratings changes, Needham & Company LLC increased Block’s target price from $80.00 to $95.00 and rated the stock a “buy” in a research report on February 24th. Credit Suisse Group also raised their target price from $95.00 to $105.00 and rated the company an “outperform” on the same day. On the other hand, Oppenheimer downgraded Block from an “outperform” rating to a “market perform” rating on January 25th. UBS Group decreased their price objective from $104.00 to $100.00 and gave a “buy” rating for the company in a research report on December 15th. Finally, Robert W. Baird raised the stock’s price objective from $85.00 to $92.00 and gave an “outperform” rating on February 24th.
As per MarketBeat, of the 31 analysts covering the stock, three have rated it as a sell, five as hold, and 23 as buy, with an average rating of “Moderate Buy” and an average price target of $107.86.
Square’s Commerce Ecosystem and Hedge Fund Holdings
Square, Inc. provides payment and point-of-sale solutions both domestically and internationally. The company’s commerce ecosystem includes point-of-sale software and hardware that turns mobile and computing devices into payment and point-of-sale solutions. Their hardware products include Square Stand, Magstripe reader, Contactless and chip reader, and Chip card reader. Additionally, Square Register combines their hardware, point-of-sale software, and payments technology to create a full point-of-sale solution, as well as managed payment solutions.
If you want to see what other hedge funds are holding SQ, you can visit HoldingsChannel.com to get the latest 13F filings and insider trades for Block, Inc. (NYSE:SQ – Get Rating). Also, if you wish to receive daily news and ratings for Block and related companies, you can enter your email address below to receive a concise daily summary of the latest news and analysts’ ratings with MarketBeat.com’s FREE daily email newsletter.
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