Insider Selling: Block, Inc. (NYSE:SQ) CAO Sells $177,255.68 in Stock

Block, Inc. (NYSE:SQ) CAO Ajmere Dale sold 2,044 shares of Block stock in a transaction dated Thursday, January 2nd. The stock was sold at an average price of $86.72, for a total value of $177,255.68. Following the completion of the transaction, the chief accounting officer now owns 83,966 shares in the company, valued at approximately $7,281,531.52. This represents a 2.38 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link.

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

• On Thursday, November 21st, Ajmere Dale sold 1,781 shares of Block stock. The stock was sold at an average price of $91.43, for a total value of $162,836.83.
• On Monday, November 11th, Ajmere Dale sold 1,000 shares of Block stock. The shares were sold at an average price of $80.00, for a total value of $80,000.00.

Block Price Performance

SQ opened at $86.61 on Thursday. Block, Inc. has a 1 year low of $55.00 and a 1 year high of $99.26. The stock has a 50-day moving average price of $88.11 and a 200-day moving average price of $73.74. The firm has a market cap of $53.68 billion, a PE ratio of 48.66, a P/E/G ratio of 1.23 and a beta of 2.51. The company has a debt-to-equity ratio of 0.26, a current ratio of 2.07 and a quick ratio of 2.07.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of SQ. CIBC Asset Management Inc raised its holdings in Block by 7.4% in the 2nd quarter. CIBC Asset Management Inc now owns 18,855 shares of the technology company’s stock worth $1,216,000 after acquiring an additional 1,305 shares during the last quarter. Larson Financial Group LLC lifted its holdings in shares of Block by 65.8% during the second quarter. Larson Financial Group LLC now owns 1,038 shares of the technology company’s stock valued at $67,000 after purchasing an additional 412 shares in the last quarter. TD Asset Management Inc boosted its position in shares of Block by 1.0% during the second quarter. TD Asset Management Inc now owns 139,574 shares of the technology company’s stock valued at $9,001,000 after buying an additional 1,354 shares during the last quarter. National Bank of Canada FI increased its holdings in Block by 32.4% in the 2nd quarter. National Bank of Canada FI now owns 37,395 shares of the technology company’s stock worth $2,384,000 after buying an additional 9,142 shares in the last quarter. Finally, Arizona State Retirement System raised its position in Block by 1.3% in the 2nd quarter. Arizona State Retirement System now owns 160,950 shares of the technology company’s stock worth $10,380,000 after buying an additional 2,094 shares during the last quarter. 70.44% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

SQ has been the topic of several analyst reports. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $88.00 target price on shares of Block in a research note on Monday, October 21st. William Blair restated an “outperform” rating on shares of Block in a research report on Friday, November 15th. Barclays increased their target price on shares of Block from $100.00 to $112.00 and gave the stock an “overweight” rating in a report on Tuesday, December 17th. Raymond James upgraded Block from a “market perform” rating to an “outperform” rating and set a $115.00 price target on the stock in a report on Friday, January 3rd. Finally, Piper Sandler reiterated an “overweight” rating and issued a $83.00 price objective on shares of Block in a report on Monday, November 11th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and twenty-seven have issued a buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $96.77.

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.