Block (NYSE:SQ) Shares Down 1%

Block, Inc. (NYSE:SQGet Free Report)’s stock price traded down 1% during trading on Wednesday . The stock traded as low as $61.78 and last traded at $61.90. 7,176,711 shares traded hands during mid-day trading, a decline of 1% from the average session volume of 7,278,238 shares. The stock had previously closed at $62.50.

Analyst Upgrades and Downgrades

Several equities analysts have commented on the stock. Royal Bank of Canada boosted their price target on shares of Block from $77.00 to $88.00 and gave the stock an “outperform” rating in a research note on Friday, February 23rd. Truist Financial lifted their price objective on shares of Block from $90.00 to $100.00 and gave the stock a “buy” rating in a research report on Friday, February 23rd. Canaccord Genuity Group reaffirmed a “buy” rating and set a $95.00 price objective on shares of Block in a research report on Friday, May 3rd. Evercore ISI reaffirmed an “in-line” rating and set a $75.00 price objective on shares of Block in a research report on Tuesday, March 26th. Finally, Wolfe Research lifted their price objective on shares of Block from $95.00 to $100.00 and gave the stock an “outperform” rating in a research report on Thursday, April 11th. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and twenty-seven have issued a buy rating to the company’s stock. According to MarketBeat.com, Block presently has a consensus rating of “Moderate Buy” and a consensus target price of $87.59.

Get Our Latest Report on Block

Block Stock Down 1.0 %

The company has a market capitalization of $38.19 billion, a price-to-earnings ratio of 80.39, a price-to-earnings-growth ratio of 1.46 and a beta of 2.54. The company has a debt-to-equity ratio of 0.16, a current ratio of 1.64 and a quick ratio of 1.64. The firm’s 50-day simple moving average is $69.55 and its two-hundred day simple moving average is $71.83.

Block (NYSE:SQGet Free Report) last announced its quarterly earnings results on Thursday, May 2nd. The technology company reported $0.47 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.15 by $0.32. Block had a net margin of 2.18% and a return on equity of 2.04%. The company had revenue of $5.96 billion for the quarter, compared to the consensus estimate of $5.75 billion. Sell-side analysts predict that Block, Inc. will post 1.28 EPS for the current fiscal year.

Insider Activity at Block

In related news, CAO Ajmere Dale sold 500 shares of the company’s stock in a transaction that occurred on Monday, April 1st. The shares were sold at an average price of $84.75, for a total transaction of $42,375.00. Following the transaction, the chief accounting officer now owns 68,323 shares of the company’s stock, valued at $5,790,374.25. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In other Block news, CFO Amrita Ahuja sold 4,170 shares of the stock in a transaction that occurred on Tuesday, April 2nd. The shares were sold at an average price of $78.84, for a total transaction of $328,762.80. Following the transaction, the chief financial officer now owns 193,192 shares of the company’s stock, valued at $15,231,257.28. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CAO Ajmere Dale sold 500 shares of the stock in a transaction that occurred on Monday, April 1st. The stock was sold at an average price of $84.75, for a total transaction of $42,375.00. Following the transaction, the chief accounting officer now directly owns 68,323 shares in the company, valued at approximately $5,790,374.25. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 247,739 shares of company stock valued at $18,584,747. Company insiders own 10.49% of the company’s stock.

Hedge Funds Weigh In On Block

Large investors have recently bought and sold shares of the stock. Montag A & Associates Inc. increased its position in shares of Block by 843.2% in the fourth quarter. Montag A & Associates Inc. now owns 349 shares of the technology company’s stock worth $27,000 after acquiring an additional 312 shares in the last quarter. Riverview Trust Co acquired a new stake in Block during the 1st quarter valued at $28,000. Front Row Advisors LLC grew its holdings in Block by 67,500.0% during the 3rd quarter. Front Row Advisors LLC now owns 676 shares of the technology company’s stock valued at $30,000 after purchasing an additional 675 shares in the last quarter. Tidemark LLC acquired a new stake in Block during the 4th quarter valued at $32,000. Finally, YHB Investment Advisors Inc. acquired a new stake in Block during the 1st quarter valued at $33,000. Hedge funds and other institutional investors own 70.44% of the company’s stock.

Block Company Profile

(Get Free Report)

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.

Further Reading

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