Insider Selling: Block, Inc. (NYSE:SQ) Insider Sells 2,964 Shares of Stock

Block, Inc. (NYSE:SQ) insider Chrysty Esperanza sold 2,964 shares of the firm’s stock in a transaction dated Monday, November 11th. The shares were sold at an average price of $80.00, for a total transaction of $237,120.00. Following the transaction, the insider now directly owns 88,607 shares in the company, valued at approximately $7,088,560. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this link.

Block Stock Down 1.6 %

Shares of Block stock traded down $1.43 on Wednesday, hitting $85.82. 12,935,783 shares of the company traded hands, compared to its average volume of 8,145,625. 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 12-month low of $53.82 and a 12-month high of $90.00. The company has a 50-day moving average price of $69.67 and a 200 day moving average price of $67.09. The company has a market cap of $52.84 billion, a PE ratio of 50.01, a PEG ratio of 1.18 and a beta of 2.48.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of SQ. Yoder Wealth Management Inc. lifted its holdings in shares of Block by 0.4% during the 3rd quarter. Yoder Wealth Management Inc. now owns 39,688 shares of the technology company’s stock valued at $2,664,000 after buying an additional 145 shares during the last quarter. Nations Financial Group Inc. IA ADV raised its position in Block by 1.9% during the third quarter. Nations Financial Group Inc. IA ADV now owns 7,744 shares of the technology company’s stock valued at $520,000 after acquiring an additional 145 shares in the last quarter. Moser Wealth Advisors LLC lifted its stake in Block by 2.5% in the third quarter. Moser Wealth Advisors LLC now owns 6,265 shares of the technology company’s stock valued at $421,000 after acquiring an additional 153 shares during the last quarter. Lindbrook Capital LLC grew its position in Block by 6.3% in the third quarter. Lindbrook Capital LLC now owns 2,592 shares of the technology company’s stock worth $174,000 after acquiring an additional 154 shares in the last quarter. Finally, Larson Financial Group LLC increased its stake in shares of Block by 14.8% during the 3rd quarter. Larson Financial Group LLC now owns 1,192 shares of the technology company’s stock worth $80,000 after purchasing an additional 154 shares during the last quarter. 70.44% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research firms recently commented on SQ. BMO Capital Markets lowered their price objective on shares of Block from $93.00 to $92.00 and set an “outperform” rating on the stock in a research note on Thursday, October 3rd. Royal Bank of Canada reissued an “outperform” rating and issued a $88.00 price objective on shares of Block in a research note on Monday, October 21st. Morgan Stanley decreased their target price on Block from $60.00 to $55.00 and set an “underweight” rating for the company in a research note on Tuesday, July 30th. New Street Research initiated coverage on shares of Block in a research report on Monday, September 9th. They issued a “neutral” rating and a $70.00 price target on the stock. Finally, William Blair upgraded shares of Block to a “strong-buy” rating in a research report on Wednesday, July 31st. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating, twenty-three have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, Block presently has an average rating of “Moderate Buy” and a consensus target price of $91.30.

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.