Atria Wealth Solutions Inc. Has $1.29 Million Holdings in Block, Inc. (NYSE:SQ)

Atria Wealth Solutions Inc. grew its holdings in Block, Inc. (NYSE:SQ) by 12.8% during the fourth quarter, Holdings Channel.com reports. The firm owned 16,720 shares of the technology company’s stock after acquiring an additional 1,897 shares during the quarter. Atria Wealth Solutions Inc.’s holdings in Block were worth $1,293,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in SQ. Hexagon Capital Partners LLC increased its holdings in Block by 89.6% during the third quarter. Hexagon Capital Partners LLC now owns 635 shares of the technology company’s stock worth $28,000 after buying an additional 300 shares during the last quarter. Front Row Advisors LLC increased its holdings in Block by 67,500.0% during the third quarter. Front Row Advisors LLC now owns 676 shares of the technology company’s stock worth $30,000 after buying an additional 675 shares during the last quarter. Larson Financial Group LLC increased its holdings in Block by 38.4% during the third quarter. Larson Financial Group LLC now owns 728 shares of the technology company’s stock worth $32,000 after buying an additional 202 shares during the last quarter. Headinvest LLC acquired a new position in Block during the third quarter worth $44,000. Finally, CNB Bank increased its holdings in Block by 40.2% during the third quarter. CNB Bank now owns 1,046 shares of the technology company’s stock worth $46,000 after buying an additional 300 shares during the last quarter. 70.44% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities analysts have commented on SQ shares. Keefe, Bruyette & Woods upped their price objective on shares of Block from $74.00 to $78.00 and gave the company a “market perform” rating in a report on Friday, February 23rd. Royal Bank of Canada upped their price objective on shares of Block from $77.00 to $88.00 and gave the company an “outperform” rating in a report on Friday, February 23rd. Monness Crespi & Hardt upped their price objective on shares of Block from $85.00 to $100.00 and gave the company a “buy” rating in a report on Friday, February 23rd. KeyCorp upped their price objective on shares of Block from $80.00 to $95.00 and gave the company an “overweight” rating in a report on Wednesday, March 27th. Finally, Piper Sandler reiterated an “overweight” rating and issued a $88.00 price objective (up from $86.00) on shares of Block in a report on Friday, February 23rd. One investment analyst has rated the stock with a sell rating, six have given a hold rating and twenty-eight have given a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $85.67.

Block Stock Performance

Block stock opened at $66.83 on Thursday. The business has a 50 day moving average of $77.77 and a 200-day moving average of $67.82. Block, Inc. has a 1 year low of $38.85 and a 1 year high of $87.52. The company has a debt-to-equity ratio of 0.22, a current ratio of 1.90 and a quick ratio of 1.90. The company has a market capitalization of $41.15 billion, a P/E ratio of 429.41, a P/E/G ratio of 2.02 and a beta of 2.57.

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, beating the consensus estimate of $0.02 by $0.01. Block had a return on equity of 0.63% and a net margin of 0.04%. The company had revenue of $5.77 billion during the quarter, compared to the consensus estimate of $5.69 billion. On average, equities research analysts predict that Block, Inc. will post 1.11 earnings per share for the current year.

Insider Activity

In other news, insider Brian Grassadonia sold 127,800 shares of the company’s stock in a transaction that occurred on Tuesday, February 20th. The stock was sold at an average price of $65.45, for a total value 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 $26,521,910.80. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In other Block news, insider Brian Grassadonia sold 127,800 shares of the 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 sale, the insider now owns 405,224 shares of the company’s stock, valued at approximately $26,521,910.80. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CAO Ajmere Dale sold 656 shares of the stock in a transaction that occurred on Wednesday, February 21st. The shares were sold at an average price of $64.30, for a total transaction of $42,180.80. Following the sale, the chief accounting officer now directly owns 68,823 shares of the company’s stock, valued at approximately $4,425,318.90. The disclosure for this sale can be found here. Insiders sold 363,801 shares of company stock valued at $27,284,175 over the last quarter. 10.79% of the stock is owned by company insiders.

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.