Insider Selling: Block, Inc. (NYSE:SQ) CFO Sells 6,661 Shares of Stock

Block, Inc. (NYSE:SQ) CFO Amrita Ahuja sold 6,661 shares of the firm’s stock in a transaction that occurred on Thursday, November 21st. The shares were sold at an average price of $91.43, for a total value of $609,015.23. Following the completion of the transaction, the chief financial officer now owns 246,967 shares of the company’s stock, valued at approximately $22,580,192.81. This represents a 2.63 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

Amrita Ahuja also recently made the following trade(s):

• On Wednesday, October 2nd, Amrita Ahuja sold 5,935 shares of Block stock. The shares were sold at an average price of $65.53, for a total value of $388,920.55.

Block Stock Performance

NYSE SQ opened at $90.79 on Tuesday. The firm’s 50 day simple moving average is $74.33 and its 200 day simple moving average is $68.20. The firm has a market capitalization of $56.27 billion, a price-to-earnings ratio of 51.01, a P/E/G ratio of 1.24 and a beta of 2.48. The company has a current ratio of 2.07, a quick ratio of 2.07 and a debt-to-equity ratio of 0.26. Block, Inc. has a 1 year low of $55.00 and a 1 year high of $94.12.

Hedge Funds Weigh In On Block

Several hedge funds and other institutional investors have recently modified their holdings of the business. Synovus Financial Corp boosted its stake in shares of Block by 18.6% in the 3rd quarter. Synovus Financial Corp now owns 10,174 shares of the technology company’s stock valued at $683,000 after purchasing an additional 1,593 shares in the last quarter. Wilmington Savings Fund Society FSB boosted its position in Block by 38.1% in the third quarter. Wilmington Savings Fund Society FSB now owns 9,893 shares of the technology company’s stock valued at $664,000 after buying an additional 2,728 shares in the last quarter. Sanctuary Advisors LLC grew its stake in shares of Block by 7.5% during the third quarter. Sanctuary Advisors LLC now owns 52,412 shares of the technology company’s stock worth $3,518,000 after buying an additional 3,639 shares during the last quarter. Hohimer Wealth Management LLC increased its holdings in shares of Block by 3.8% during the third quarter. Hohimer Wealth Management LLC now owns 15,833 shares of the technology company’s stock worth $1,063,000 after buying an additional 580 shares in the last quarter. Finally, TD Private Client Wealth LLC lifted its stake in shares of Block by 15.8% in the 3rd quarter. TD Private Client Wealth LLC now owns 2,066 shares of the technology company’s stock valued at $139,000 after acquiring an additional 282 shares during the last quarter. Institutional investors own 70.44% of the company’s stock.

Analysts Set New Price Targets

Several research firms have issued reports on SQ. Canaccord Genuity Group upped their price target on shares of Block from $95.00 to $120.00 and gave the stock a “buy” rating in a research report on Tuesday, November 12th. Wells Fargo & Company dropped their target price on shares of Block from $95.00 to $85.00 and set an “overweight” rating on the stock in a report on Friday, August 2nd. Keefe, Bruyette & Woods lifted their price target on Block from $71.00 to $80.00 and gave the stock a “market perform” rating in a report on Friday, November 8th. Needham & Company LLC upped their price objective on Block from $80.00 to $90.00 and gave the company a “buy” rating in a research note on Friday, November 8th. Finally, William Blair reiterated an “outperform” rating on shares of Block in a research note on Friday, November 15th. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and twenty-three have given a buy rating to the company’s stock. According to data from MarketBeat, Block presently has a consensus rating of “Moderate Buy” and an average target price of $91.46.

Block Company 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.