Insider Selling: Block, Inc. (NYSE:SQ) Insider Sells 2,836 Shares of Stock

Block, Inc. (NYSE:SQ) insider Owen Britton Jennings sold 2,836 shares of Block stock in a transaction dated Thursday, January 2nd. The stock was sold at an average price of $89.38, for a total transaction of $253,481.68. Following the sale, the insider now directly owns 195,449 shares of the company’s stock, valued at $17,469,231.62. The trade was a 1.43 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink.

Block Trading Down 0.2 %

NYSE SQ traded down $0.15 during trading hours on Monday, reaching $92.01. The company’s stock had a trading volume of 6,455,905 shares, compared to its average volume of 7,594,174. The firm has a fifty day simple moving average of $87.20 and a 200-day simple moving average of $73.27. 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 52 week low of $55.00 and a 52 week high of $99.26. The stock has a market cap of $57.03 billion, a P/E ratio of 51.69, a P/E/G ratio of 1.23 and a beta of 2.51.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on SQ shares. BNP Paribas downgraded shares of Block from an “outperform” rating to a “neutral” rating and set a $88.00 price objective for the company. in a research report on Wednesday, November 20th. BMO Capital Markets downgraded Block from an “outperform” rating to a “market perform” rating and boosted their price target for the company from $94.00 to $100.00 in a research note on Monday, November 25th. Raymond James raised Block from a “market perform” rating to an “outperform” rating and set a $115.00 price objective on the stock in a report on Friday. Macquarie lifted their target price on Block from $100.00 to $110.00 and gave the stock an “outperform” rating in a report on Tuesday, December 10th. Finally, William Blair restated an “outperform” rating on shares of Block in a research note on Friday, November 15th. One analyst has rated the stock with a sell rating, five have assigned a hold rating and twenty-seven have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $96.77.

Hedge Funds Weigh In On Block

Several large investors have recently modified their holdings of the business. Baillie Gifford & Co. increased its holdings in Block by 1.5% in the third quarter. Baillie Gifford & Co. now owns 10,233,102 shares of the technology company’s stock valued at $686,948,000 after purchasing an additional 147,873 shares during the period. Geode Capital Management LLC increased its stake in shares of Block by 1.6% in the third quarter. Geode Capital Management LLC now owns 8,690,075 shares of the technology company’s stock valued at $581,923,000 after buying an additional 133,002 shares during the period. Lone Pine Capital LLC raised its position in shares of Block by 13.9% during the second quarter. Lone Pine Capital LLC now owns 7,670,523 shares of the technology company’s stock worth $494,672,000 after acquiring an additional 934,588 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its stake in shares of Block by 2.1% in the third quarter. Charles Schwab Investment Management Inc. now owns 2,202,388 shares of the technology company’s stock worth $147,846,000 after acquiring an additional 45,472 shares during the period. Finally, Dimensional Fund Advisors LP boosted its holdings in Block by 17.8% in the second quarter. Dimensional Fund Advisors LP now owns 2,157,733 shares of the technology company’s stock valued at $139,143,000 after acquiring an additional 326,444 shares during the last quarter. Institutional investors own 70.44% of the company’s stock.

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.