Insider Selling: Block, Inc. (NYSE:SQ) CFO Sells $129,953.04 in Stock

Block, Inc. (NYSE:SQ) CFO Amrita Ahuja sold 1,502 shares of the firm’s stock in a transaction dated Thursday, January 2nd. The stock was sold at an average price of $86.52, for a total value of $129,953.04. Following the transaction, the chief financial officer now directly owns 242,199 shares in the company, valued at approximately $20,955,057.48. This represents a 0.62 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

Amrita Ahuja also recently made the following trade(s):

• On Thursday, November 21st, Amrita Ahuja sold 6,661 shares of Block stock. The stock was sold at an average price of $91.43, for a total value of $609,015.23.

Block Stock Down 1.2 %

Shares of NYSE:SQ opened at $86.61 on Thursday. The company has a market capitalization of $53.68 billion, a P/E ratio of 48.66, a P/E/G ratio of 1.23 and a beta of 2.51. The stock’s fifty day simple moving average is $88.11 and its 200-day simple moving average is $73.74. Block, Inc. has a 52-week low of $55.00 and a 52-week high of $99.26. The company has a quick ratio of 2.07, a current ratio of 2.07 and a debt-to-equity ratio of 0.26.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on the company. William Blair restated an “outperform” rating on shares of Block in a research note on Friday, November 15th. 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. Raymond James raised shares of Block from a “market perform” rating to an “outperform” rating and set a $115.00 target price on the stock in a report on Friday, January 3rd. Needham & Company LLC raised their price objective on shares of Block from $80.00 to $90.00 and gave the company a “buy” rating in a research report on Friday, November 8th. Finally, Macquarie lifted their price objective on Block from $100.00 to $110.00 and gave the company an “outperform” rating in a report on Tuesday, December 10th. 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, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $96.77.

Institutional Investors Weigh In On Block

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

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.