Block (NYSE:SQ) Earns Hold Rating from Analysts at StockNews.com

Equities researchers at StockNews.com started coverage on shares of Block (NYSE:SQ) in a research note issued on Thursday. The firm set a “hold” rating on the technology company’s stock.

Several other research firms have also recently commented on SQ. 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. Barclays raised their price objective on shares of Block from $100.00 to $112.00 and gave the company an “overweight” rating in a research note on Tuesday, December 17th. Wells Fargo & Company upped their target price on Block from $85.00 to $95.00 and gave the stock an “overweight” rating in a research report on Thursday, January 16th. 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 research report on Friday, January 3rd. Finally, Royal Bank of Canada restated an “outperform” rating and issued a $88.00 price objective on shares of Block in a report on Monday, October 21st. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and twenty-six have issued a buy rating to the company. According to data from MarketBeat.com, Block currently has a consensus rating of “Moderate Buy” and an average target price of $98.10.

Block Stock Performance

Block has a fifty-two week low of $55.00 and a fifty-two week high of $99.26. The company’s 50 day simple moving average is $89.68 and its two-hundred day simple moving average is $75.13. The company has a debt-to-equity ratio of 0.26, a current ratio of 2.07 and a quick ratio of 2.07. The firm has a market capitalization of $53.90 billion, a price-to-earnings ratio of 48.92, a price-to-earnings-growth ratio of 0.79 and a beta of 2.51.

Insider Activity

In related news, insider Brian Grassadonia sold 8,328 shares of Block stock in a transaction on Thursday, November 21st. The stock was sold at an average price of $91.18, for a total transaction of $759,347.04. Following the completion of the sale, the insider now owns 563,894 shares of the company’s stock, valued at approximately $51,415,854.92. This trade 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 the SEC website. Also, CAO Ajmere Dale sold 1,000 shares of the business’s stock in a transaction dated Monday, November 11th. The shares were sold at an average price of $80.00, for a total value of $80,000.00. Following the completion of the transaction, the chief accounting officer now owns 88,791 shares in the company, valued at $7,103,280. This trade represents a 1.11 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 29,981 shares of company stock worth $2,681,185 in the last 90 days. Company insiders own 10.49% of the company’s stock.

Institutional Investors Weigh In On Block

Institutional investors have recently made changes to their positions in the company. Key Client Fiduciary Advisors LLC raised its position in Block by 1.4% during the fourth quarter. Key Client Fiduciary Advisors LLC now owns 8,340 shares of the technology company’s stock valued at $709,000 after acquiring an additional 115 shares in the last quarter. MassMutual Private Wealth & Trust FSB raised its holdings in shares of Block by 48.2% during the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 418 shares of the technology company’s stock valued at $36,000 after purchasing an additional 136 shares in the last quarter. Yoder Wealth Management Inc. raised 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 purchasing an additional 145 shares in the last quarter. Nations Financial Group Inc. IA ADV lifted its stake in shares of Block by 1.9% in the 3rd 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 during the last quarter. Finally, Wealth Enhancement Advisory Services LLC boosted its holdings in Block by 0.5% in the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 26,864 shares of the technology company’s stock worth $2,283,000 after purchasing an additional 145 shares in the last quarter. 70.44% of the stock is currently 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.