Block, Inc. (NYSE:SQ) CAO Ajmere Dale Sells 1,781 Shares

Block, Inc. (NYSE:SQ) CAO Ajmere Dale sold 1,781 shares of Block stock in a transaction on Thursday, November 21st. The stock was sold at an average price of $91.43, for a total transaction of $162,836.83. Following the transaction, the chief accounting officer now directly owns 86,010 shares of the company’s stock, 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 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 Price Performance

SQ opened at $90.79 on Tuesday. Block, Inc. has a fifty-two week low of $55.00 and a fifty-two week high of $94.12. The firm has a 50-day moving average of $74.33 and a 200 day moving average of $68.20. The company has a debt-to-equity ratio of 0.26, a quick ratio of 2.07 and a current ratio of 2.07. The firm has a market cap of $56.27 billion, a P/E ratio of 51.01, a PEG ratio of 1.24 and a beta of 2.48.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the stock. Baillie Gifford & Co. grew its stake in shares of Block by 45.7% during the 2nd quarter. Baillie Gifford & Co. now owns 10,085,229 shares of the technology company’s stock worth $650,396,000 after acquiring an additional 3,163,975 shares during the period. Southpoint Capital Advisors LP purchased a new stake in Block during the third quarter valued at about $114,121,000. Massachusetts Financial Services Co. MA boosted its position in Block by 770.0% during 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% in the second quarter. Lone Pine Capital LLC now owns 7,670,523 shares of the technology company’s stock worth $494,672,000 after purchasing an additional 934,588 shares in the last quarter. Finally, D1 Capital Partners L.P. raised its position in shares of Block by 76.7% in 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 period. 70.44% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on SQ. New Street Research assumed coverage on Block in a research note on Monday, September 9th. They issued a “neutral” rating and a $70.00 price target on the stock. Needham & Company LLC boosted their target price on shares of Block from $80.00 to $90.00 and gave the company a “buy” rating in a research report on Friday, November 8th. William Blair restated an “outperform” rating on shares of Block in a report on Friday, November 15th. Royal Bank of Canada reiterated an “outperform” rating and set a $88.00 price objective on shares of Block in a report on Monday, October 21st. Finally, Canaccord Genuity Group raised their target price on Block from $95.00 to $120.00 and gave the company a “buy” rating in a research note on Tuesday, November 12th. One 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’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target 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.