Raymond James Trust N.A. Has $1.21 Million Stock Holdings in Block, Inc. (NYSE:SQ)

Raymond James Trust N.A. raised its stake in Block, Inc. (NYSE:SQ) by 5.3% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 18,759 shares of the technology company’s stock after purchasing an additional 942 shares during the period. Raymond James Trust N.A.’s holdings in Block were worth $1,210,000 at the end of the most recent quarter.

Several other large investors also recently modified their holdings of the stock. Montag A & Associates Inc. grew its stake in Block by 843.2% in the 4th quarter. Montag A & Associates Inc. now owns 349 shares of the technology company’s stock valued at $27,000 after buying an additional 312 shares during the last quarter. Riverview Trust Co bought a new position in shares of Block during the first quarter worth approximately $28,000. Tidemark LLC bought a new position in shares of Block during the fourth quarter worth approximately $32,000. YHB Investment Advisors Inc. acquired a new stake in Block during the 1st quarter worth approximately $33,000. Finally, Vima LLC bought a new stake in Block in the 4th quarter valued at $34,000. 70.44% of the stock is owned by institutional investors.

Block Trading Up 1.3 %

Shares of NYSE:SQ traded up $0.88 during midday trading on Monday, hitting $66.24. 650,490 shares of the stock were exchanged, compared to its average volume of 8,669,642. The business’s 50-day moving average price is $63.92 and its 200 day moving average price is $69.89. Block, Inc. has a 12 month low of $38.85 and a 12 month high of $87.52. The company has a debt-to-equity ratio of 0.26, a quick ratio of 1.82 and a current ratio of 1.82. The stock has a market capitalization of $40.87 billion, a price-to-earnings ratio of 84.88, a P/E/G ratio of 1.15 and a beta of 2.52.

Block (NYSE:SQ) last posted its earnings results on Thursday, August 1st. The technology company reported $0.93 earnings per share for the quarter, topping analysts’ consensus estimates of $0.84 by $0.09. The firm had revenue of $6.16 billion for the quarter, compared to analyst estimates of $6.27 billion. Block had a net margin of 3.47% and a return on equity of 3.77%. The company’s revenue for the quarter was up 11.2% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.40 EPS. Analysts predict that Block, Inc. will post 1.72 earnings per share for the current year.

Insider Activity at Block

In related news, Director Roelof Botha bought 434,405 shares of the business’s stock in a transaction on Tuesday, August 6th. The shares were purchased at an average cost of $57.55 per share, with a total value of $25,000,007.75. Following the acquisition, the director now owns 434,405 shares of the company’s stock, valued at $25,000,007.75. The purchase was disclosed in a filing with the SEC, which is available through this link. In other news, Director Roelof Botha bought 434,405 shares of the firm’s stock in a transaction on Tuesday, August 6th. The stock was acquired at an average price of $57.55 per share, with a total value of $25,000,007.75. Following the transaction, the director now owns 434,405 shares of the company’s stock, valued at approximately $25,000,007.75. The acquisition was disclosed in a document filed with the SEC, which is available through this link. Also, insider Brian Grassadonia sold 1,889 shares of the business’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 transaction of $121,594.93. Following the completion of the transaction, the insider now owns 590,761 shares in the company, valued at approximately $38,027,285.57. The disclosure for this sale can be found here. Insiders sold 28,179 shares of company stock worth $1,833,962 over the last three months. Company insiders own 10.49% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on SQ shares. Keefe, Bruyette & Woods dropped their target price on Block from $82.00 to $74.00 and set a “market perform” rating for the company in a report on Monday, July 8th. Susquehanna reissued a “positive” rating and issued a $100.00 price objective on shares of Block in a report on Wednesday, June 26th. The Goldman Sachs Group reaffirmed a “buy” rating and set a $80.00 target price on shares of Block in a report on Monday, June 24th. Wedbush reiterated an “outperform” rating and issued a $90.00 price target on shares of Block in a research note on Friday, May 3rd. Finally, Citigroup increased their price target on Block from $86.00 to $90.00 and gave the stock a “buy” rating in a research report on Monday, May 6th. One analyst has rated the stock with a sell rating, six have issued a hold rating, twenty-four have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $86.59.

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.