Block, Inc. (NYSE:SQ) CAO Sells $162,836.83 in Stock

Block, Inc. (NYSE:SQ) CAO Ajmere Dale sold 1,781 shares of the business’s stock in a transaction on Thursday, November 21st. The stock was sold at an average price of $91.43, for a total value of $162,836.83. Following the sale, the chief accounting officer now owns 86,010 shares in the company, valued at $7,863,894.30. This represents a 2.03 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link.

Ajmere Dale also recently made the following trade(s):

• On Monday, November 11th, Ajmere Dale sold 1,000 shares of Block stock. The shares were sold at an average price of $80.00, for a total transaction of $80,000.00.
• On Tuesday, October 1st, Ajmere Dale sold 500 shares of Block stock. The shares were sold at an average price of $67.00, for a total value of $33,500.00.

Block Stock Down 1.6 %

Shares of SQ stock traded down $1.47 on Monday, hitting $90.79. The stock had a trading volume of 11,098,508 shares, compared to its average volume of 8,247,609. The company has a debt-to-equity ratio of 0.26, a current ratio of 2.07 and a quick ratio of 2.07. The business has a 50 day moving average of $73.83 and a 200 day moving average of $68.07. Block, Inc. has a 12-month low of $55.00 and a 12-month high of $94.12. The stock has a market cap of $56.27 billion, a price-to-earnings ratio of 50.74, a price-to-earnings-growth ratio of 1.24 and a beta of 2.48.

Institutional Investors Weigh In On Block

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. SouthState Corp increased its position in shares of Block by 85.3% during the 3rd quarter. SouthState Corp now owns 391 shares of the technology company’s stock valued at $26,000 after purchasing an additional 180 shares during the last quarter. LRI Investments LLC purchased a new stake in Block during the first quarter worth about $34,000. True Wealth Design LLC raised its position in Block by 64.7% in the third quarter. True Wealth Design LLC now owns 494 shares of the technology company’s stock worth $33,000 after acquiring an additional 194 shares during the period. Unique Wealth Strategies LLC purchased a new position in Block in the second quarter valued at about $34,000. Finally, V Square Quantitative Management LLC bought a new position in shares of Block during the 3rd quarter valued at approximately $46,000. Hedge funds and other institutional investors own 70.44% of the company’s stock.

Analyst Ratings Changes

SQ has been the subject of several recent research reports. Royal Bank of Canada reissued an “outperform” rating and issued a $88.00 price target on shares of Block in a research note on Monday, October 21st. Keefe, Bruyette & Woods increased their price objective on shares of Block from $71.00 to $80.00 and gave the stock a “market perform” rating in a research report on Friday, November 8th. UBS Group cut their price target on shares of Block from $100.00 to $92.00 and set a “buy” rating on the stock in a research report on Tuesday, August 27th. Wells Fargo & Company decreased their price target on Block from $95.00 to $85.00 and set an “overweight” rating for the company in a report on Friday, August 2nd. Finally, BMO Capital Markets downgraded Block from an “outperform” rating to a “market perform” rating and boosted their price objective for the company from $94.00 to $100.00 in a research note on Monday. One research analyst has rated the stock with a sell rating, seven have given a hold rating and twenty-three have given a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $91.46.

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.