Block, Inc. (NYSE:SQ) Insider Sells $759,347.04 in Stock

Block, Inc. (NYSE:SQ) insider Brian Grassadonia sold 8,328 shares of the firm’s stock in a transaction dated Thursday, November 21st. The shares were sold at an average price of $91.18, for a total value of $759,347.04. Following the sale, the insider now directly owns 563,894 shares in the company, valued at approximately $51,415,854.92. This represents a 1.46 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link.

Brian Grassadonia also recently made the following trade(s):

• On Wednesday, October 2nd, Brian Grassadonia sold 1,884 shares of Block stock. The stock was sold at an average price of $65.41, for a total value of $123,232.44.

Block Trading Down 1.6 %

NYSE:SQ traded down $1.47 during midday trading on Monday, hitting $90.79. The stock had a trading volume of 11,098,508 shares, compared to its average volume of 8,247,609. The stock has a 50-day moving average of $73.83 and a 200 day moving average of $68.07. The company has a market capitalization of $56.27 billion, a price-to-earnings ratio of 50.74, a PEG ratio of 1.24 and a beta of 2.48. Block, Inc. has a one year low of $55.00 and a one year high of $94.12. The company has a quick ratio of 2.07, a current ratio of 2.07 and a debt-to-equity ratio of 0.26.

Analyst Upgrades and Downgrades

SQ has been the subject of several recent analyst reports. Benchmark restated a “buy” rating and issued a $99.00 price target on shares of Block in a research note on Friday, August 2nd. Needham & Company LLC raised their target price on shares of Block from $80.00 to $90.00 and gave the company a “buy” rating in a research note on Friday, November 8th. UBS Group decreased their price target on shares of Block from $100.00 to $92.00 and set a “buy” rating on the stock in a research note on Tuesday, August 27th. Morgan Stanley cut their price objective on Block from $60.00 to $55.00 and set an “underweight” rating for the company in a research report on Tuesday, July 30th. Finally, Oppenheimer initiated coverage on Block in a research report on Tuesday, October 1st. They issued a “market perform” rating on the stock. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and twenty-three have assigned a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $91.46.

Hedge Funds Weigh In On Block

A number of hedge funds and other institutional investors have recently made changes to their positions in SQ. Yoder Wealth Management Inc. increased its position in 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 purchasing an additional 145 shares during the period. Nations Financial Group Inc. IA ADV boosted its stake in shares of 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 purchasing an additional 145 shares in the last quarter. Moser Wealth Advisors LLC increased its holdings in Block by 2.5% during the third quarter. Moser Wealth Advisors LLC now owns 6,265 shares of the technology company’s stock valued at $421,000 after buying an additional 153 shares during the period. Lindbrook Capital LLC raised its stake 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 buying an additional 154 shares in the last quarter. Finally, Larson Financial Group LLC lifted its holdings in Block by 14.8% during the third quarter. Larson Financial Group LLC now owns 1,192 shares of the technology company’s stock worth $80,000 after buying an additional 154 shares during the period. 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.