Block, Inc. (NYSE:SQ) Insider Sells $237,120.00 in Stock

Block, Inc. (NYSE:SQ) insider Chrysty Esperanza sold 2,964 shares of the company’s stock in a transaction that occurred on Monday, November 11th. The stock was sold at an average price of $80.00, for a total transaction of $237,120.00. Following the transaction, the insider now owns 88,607 shares in the company, valued at $7,088,560. The trade was a 3.24 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link.

Block Stock Down 2.8 %

SQ stock opened at $83.42 on Friday. The company has a market cap of $51.36 billion, a PE ratio of 46.87, a price-to-earnings-growth ratio of 1.16 and a beta of 2.48. The company has a quick ratio of 2.07, a current ratio of 2.07 and a debt-to-equity ratio of 0.26. Block, Inc. has a 52 week low of $55.00 and a 52 week high of $90.00. The business has a 50-day simple moving average of $70.11 and a 200 day simple moving average of $67.22.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on the company. Benchmark reissued a “buy” rating and issued a $99.00 target price on shares of Block in a research note on Friday, August 2nd. Morgan Stanley decreased their price objective on Block from $60.00 to $55.00 and set an “underweight” rating for the company in a research note on Tuesday, July 30th. Oppenheimer started coverage on Block in a report on Tuesday, October 1st. They set a “market perform” rating on the stock. Royal Bank of Canada restated an “outperform” rating and set a $88.00 price objective on shares of Block in a report on Monday, October 21st. Finally, Keefe, Bruyette & Woods increased their target price on Block from $71.00 to $80.00 and gave the stock a “market perform” rating in a report on Friday, November 8th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating, twenty-three have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, Block currently has a consensus rating of “Moderate Buy” and a consensus target price of $91.30.

Institutional Investors Weigh In On Block

Large investors have recently modified their holdings of the business. Envestnet Portfolio Solutions Inc. grew its position in Block by 53.9% during the 1st quarter. Envestnet Portfolio Solutions Inc. now owns 6,947 shares of the technology company’s stock worth $588,000 after acquiring an additional 2,432 shares during the last quarter. Empowered Funds LLC grew its holdings in shares of Block by 28.2% during the first quarter. Empowered Funds LLC now owns 20,750 shares of the technology company’s stock worth $1,755,000 after purchasing an additional 4,561 shares during the last quarter. Avantax Advisory Services Inc. increased its stake in shares of Block by 6.3% in the first quarter. Avantax Advisory Services Inc. now owns 21,928 shares of the technology company’s stock valued at $1,855,000 after buying an additional 1,292 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. raised its holdings in Block by 19.2% in the 1st quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 301,857 shares of the technology company’s stock valued at $25,531,000 after buying an additional 48,646 shares during the last quarter. Finally, Blair William & Co. IL boosted its position in Block by 3.0% during the 1st quarter. Blair William & Co. IL now owns 222,495 shares of the technology company’s stock worth $18,819,000 after buying an additional 6,556 shares during the period. Institutional investors and hedge funds own 70.44% of the company’s stock.

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.