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

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

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

• On Monday, November 11th, Ajmere Dale sold 1,000 shares of Block stock. The stock was sold at an average price of $80.00, for a total value 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 Trading Down 0.3 %

NYSE SQ opened at $88.77 on Thursday. The firm has a market capitalization of $55.02 billion, a PE ratio of 49.87, a P/E/G ratio of 1.22 and a beta of 2.48. The stock’s 50 day moving average is $75.20 and its 200 day moving average is $68.47. Block, Inc. has a twelve month low of $55.00 and a twelve month high of $94.12. The company has a quick ratio of 2.07, a current ratio of 2.07 and a debt-to-equity ratio of 0.26.

Hedge Funds Weigh In On Block

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Baillie Gifford & Co. grew its position in shares of Block by 45.7% in the 2nd quarter. Baillie Gifford & Co. now owns 10,085,229 shares of the technology company’s stock worth $650,396,000 after buying an additional 3,163,975 shares during the period. Southpoint Capital Advisors LP bought a new stake in Block during the third quarter worth about $114,121,000. Massachusetts Financial Services Co. MA grew its holdings in Block by 770.0% in the third quarter. Massachusetts Financial Services Co. MA now owns 1,738,708 shares of the technology company’s stock worth $116,719,000 after purchasing an additional 1,538,849 shares during the period. Lone Pine Capital LLC increased its stake in shares of Block by 13.9% during the second quarter. Lone Pine Capital LLC now owns 7,670,523 shares of the technology company’s stock valued at $494,672,000 after purchasing an additional 934,588 shares in the last quarter. Finally, D1 Capital Partners L.P. lifted its holdings in shares of Block by 76.7% during the second quarter. D1 Capital Partners L.P. now owns 1,831,342 shares of the technology company’s stock valued at $118,103,000 after purchasing an additional 795,000 shares during the last quarter. Hedge funds and other institutional investors own 70.44% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have commented on SQ shares. BNP Paribas cut shares of Block from an “outperform” rating to a “neutral” rating and set a $88.00 price target on the stock. in a research report on Wednesday, November 20th. Wells Fargo & Company reduced 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. Canaccord Genuity Group boosted their price target on shares of Block from $95.00 to $120.00 and gave the stock a “buy” rating in a research note on Tuesday, November 12th. Keefe, Bruyette & Woods raised their price objective on Block from $71.00 to $80.00 and gave the company a “market perform” rating in a research note on Friday, November 8th. Finally, Royal Bank of Canada reiterated an “outperform” rating and issued a $88.00 price objective on shares of Block in a report on Monday, October 21st. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and twenty-three have issued a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price 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.