Block (NYSE:SQ) Given New $80.00 Price Target at Keefe, Bruyette & Woods

Block (NYSE:SQ) had its target price increased by investment analysts at Keefe, Bruyette & Woods from $71.00 to $80.00 in a research report issued to clients and investors on Friday,Benzinga reports. The firm currently has a “market perform” rating on the technology company’s stock. Keefe, Bruyette & Woods’ price target would suggest a potential upside of 10.94% from the company’s previous close.

SQ has been the subject of several other research reports. BMO Capital Markets lowered their target price on shares of Block from $93.00 to $92.00 and set an “outperform” rating for the company in a research note on Thursday, October 3rd. Benchmark reiterated a “buy” rating and set a $99.00 price objective on shares of Block in a research note on Friday, August 2nd. Royal Bank of Canada restated an “outperform” rating and issued a $88.00 target price on shares of Block in a research note on Monday, October 21st. Deutsche Bank Aktiengesellschaft increased their price target on Block from $90.00 to $98.00 and gave the stock a “buy” rating in a research report on Friday, July 12th. Finally, Needham & Company LLC boosted their price objective on Block from $80.00 to $90.00 and gave the company a “buy” rating in a research report on Friday. One investment analyst has rated the stock with a sell rating, five have given a hold rating, twenty-three have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, Block has an average rating of “Moderate Buy” and an average price target of $90.56.

Block Stock Down 4.2 %

Shares of NYSE:SQ traded down $3.16 during trading on Friday, hitting $72.11. The company’s stock had a trading volume of 14,123,548 shares, compared to its average volume of 7,982,681. The company has a market capitalization of $44.39 billion, a PE ratio of 56.28, a PEG ratio of 1.06 and a beta of 2.48. Block has a fifty-two week low of $50.86 and a fifty-two week high of $87.52. The company has a debt-to-equity ratio of 0.26, a quick ratio of 1.82 and a current ratio of 1.82. The stock’s 50-day moving average price is $68.52 and its two-hundred day moving average price is $66.95.

Insider Activity

In related news, CFO Amrita Ahuja sold 5,935 shares of the firm’s stock in a transaction that occurred on Wednesday, October 2nd. The stock was sold at an average price of $65.53, for a total value of $388,920.55. Following the transaction, the chief financial officer now directly owns 255,496 shares of the company’s stock, valued at approximately $16,742,652.88. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In related news, CFO Amrita Ahuja sold 5,935 shares of Block stock in a transaction on Wednesday, October 2nd. The shares were sold at an average price of $65.53, for a total value of $388,920.55. Following the transaction, the chief financial officer now owns 255,496 shares in the company, valued at $16,742,652.88. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Brian Grassadonia sold 8,328 shares of the company’s stock in a transaction dated Wednesday, August 21st. The shares were sold at an average price of $64.77, for a total transaction of $539,404.56. Following the sale, the insider now owns 580,086 shares of the company’s stock, valued at $37,572,170.22. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 25,214 shares of company stock worth $1,637,932. 10.49% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Block

Several hedge funds have recently made changes to their positions in the stock. Baillie Gifford & Co. lifted its holdings 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. Lone Pine Capital LLC raised its position in 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. D1 Capital Partners L.P. raised its position in 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 worth $118,103,000 after purchasing an additional 795,000 shares in the last quarter. Canada Pension Plan Investment Board lifted its stake in Block by 1,061.0% during the second quarter. Canada Pension Plan Investment Board now owns 657,667 shares of the technology company’s stock worth $42,413,000 after purchasing an additional 601,020 shares during the period. Finally, Capital World Investors boosted its holdings in Block by 4.7% during the first quarter. Capital World Investors now owns 13,096,614 shares of the technology company’s stock valued at $1,107,712,000 after purchasing an additional 582,826 shares in the last quarter. Institutional investors own 70.44% of the company’s stock.

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.