Block, Inc. (NYSE:SQ) CAO Sells $80,000.00 in Stock

Block, Inc. (NYSE:SQ) CAO Ajmere Dale sold 1,000 shares of the business’s stock in a transaction on Monday, November 11th. The shares were sold at an average price of $80.00, for a total transaction of $80,000.00. Following the transaction, the chief accounting officer now owns 88,791 shares of the company’s stock, valued at $7,103,280. This represents a 1.11 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link.

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

• On Tuesday, October 1st, Ajmere Dale sold 500 shares of Block stock. The stock was sold at an average price of $67.00, for a total transaction of $33,500.00.
• On Wednesday, August 21st, Ajmere Dale sold 1,406 shares of Block stock. The shares were sold at an average price of $64.70, for a total transaction of $90,968.20.

Block Stock Performance

Block stock opened at $84.30 on Friday. The firm has a 50 day simple moving average of $70.48 and a 200-day simple moving average of $67.33. The stock has a market cap of $51.90 billion, a price-to-earnings ratio of 47.36, a price-to-earnings-growth ratio of 1.16 and a beta of 2.48. The company has a debt-to-equity ratio of 0.26, a current ratio of 2.07 and a quick ratio of 2.07. Block, Inc. has a 1-year low of $55.00 and a 1-year high of $90.00.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on the stock. Wells Fargo & Company cut their price objective on shares of Block from $95.00 to $85.00 and set an “overweight” rating for the company in a report on Friday, August 2nd. Oppenheimer began coverage on Block in a research note on Tuesday, October 1st. They issued a “market perform” rating for the company. Piper Sandler reiterated an “overweight” rating and set a $83.00 price target on shares of Block in a research report on Monday, November 11th. 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 report on Friday, November 8th. Finally, Benchmark reaffirmed a “buy” rating and set a $99.00 target price on shares of Block in a research note on Friday, August 2nd. One investment analyst has rated the stock with a sell rating, five have given a hold rating and twenty-four have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $91.30.

Hedge Funds Weigh In On Block

Hedge funds have recently modified their holdings of the business. SouthState Corp increased its holdings in Block by 85.3% in the 3rd quarter. SouthState Corp now owns 391 shares of the technology company’s stock valued at $26,000 after purchasing an additional 180 shares during the last quarter. True Wealth Design LLC raised its stake in shares of Block by 64.7% in the third quarter. True Wealth Design LLC now owns 494 shares of the technology company’s stock valued at $33,000 after acquiring an additional 194 shares in the last quarter. LRI Investments LLC purchased a new position in Block in the first quarter valued at $34,000. Unique Wealth Strategies LLC acquired a new position in Block during the 2nd quarter worth $34,000. Finally, Migdal Insurance & Financial Holdings Ltd. purchased a new stake in Block during the 2nd quarter worth about $44,000. 70.44% of the stock is currently owned by hedge funds and other institutional investors.

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.