Block (NYSE:SQ) Trading 3.7% Higher

Block, Inc. (NYSE:SQGet Free Report) shares traded up 3.7% on Thursday . The stock traded as high as $85.00 and last traded at $84.45. 3,636,593 shares changed hands during trading, a decline of 67% from the average session volume of 11,078,658 shares. The stock had previously closed at $81.46.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on the company. BMO Capital Markets restated an “outperform” rating and issued a $84.00 target price (down from $93.00) on shares of Block in a research note on Tuesday, December 5th. William Blair reiterated a “market perform” rating on shares of Block in a research report on Friday, February 23rd. BTIG Research upgraded Block from a “neutral” rating to a “buy” rating and set a $85.00 price objective on the stock in a report on Tuesday, January 30th. Seaport Res Ptn raised shares of Block from a “neutral” rating to a “buy” rating in a report on Friday, February 23rd. Finally, Canaccord Genuity Group upped their target price on Block from $80.00 to $95.00 and gave the company a “buy” rating in a report on Monday, February 26th. Seven investment analysts have rated the stock with a hold rating and twenty-six have issued a buy rating to the company. Based on data from MarketBeat, Block presently has a consensus rating of “Moderate Buy” and an average target price of $82.44.

Get Our Latest Stock Report on SQ

Block Stock Performance

The firm has a market cap of $49.73 billion, a PE ratio of 494.41, a price-to-earnings-growth ratio of 2.33 and a beta of 2.55. The company has a current ratio of 1.90, a quick ratio of 1.90 and a debt-to-equity ratio of 0.22. The firm has a fifty day moving average price of $71.86 and a 200 day moving average price of $62.10.

Block (NYSE:SQGet Free Report) last issued its quarterly earnings data on Thursday, February 22nd. The technology company reported $0.03 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.02 by $0.01. The firm had revenue of $5.77 billion during the quarter, compared to the consensus estimate of $5.69 billion. Block had a return on equity of 0.63% and a net margin of 0.04%. As a group, equities research analysts expect that Block, Inc. will post 1.09 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, insider Brian Grassadonia sold 111,914 shares of the business’s stock in a transaction that occurred on Monday, March 4th. The stock was sold at an average price of $78.17, for a total transaction of $8,748,317.38. Following the completion of the sale, the insider now owns 443,979 shares in the company, valued at $34,705,838.43. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. In other news, insider Brian Grassadonia sold 111,914 shares of the stock in a transaction that occurred on Monday, March 4th. The stock was sold at an average price of $78.17, for a total value of $8,748,317.38. Following the completion of the sale, the insider now directly owns 443,979 shares of the company’s stock, valued at $34,705,838.43. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CAO Ajmere Dale sold 656 shares of the stock in a transaction on Wednesday, February 21st. The stock was sold at an average price of $64.30, for a total transaction of $42,180.80. Following the sale, the chief accounting officer now owns 68,823 shares of the company’s stock, valued at approximately $4,425,318.90. The disclosure for this sale can be found here. Insiders sold 258,056 shares of company stock valued at $18,407,064 in the last three months. 10.79% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Block

A number of institutional investors have recently made changes to their positions in the stock. Decatur Capital Management Inc. raised its stake in Block by 11.1% during the first quarter. Decatur Capital Management Inc. now owns 3,783 shares of the technology company’s stock worth $513,000 after purchasing an additional 378 shares during the period. Eudaimonia Partners LLC bought a new position in Block during the 1st quarter valued at $387,000. NewEdge Advisors LLC acquired a new stake in shares of Block in the 2nd quarter valued at about $228,000. Prudential Financial Inc. raised its stake in Block by 31.3% during the second quarter. Prudential Financial Inc. now owns 25,320 shares of the technology company’s stock valued at $1,616,000 after buying an additional 6,038 shares in the last quarter. Finally, Kingsview Wealth Management LLC bought a new stake in shares of Block in the 2nd quarter valued at approximately $516,000. 61.17% of the stock is owned by institutional investors and hedge funds.

Block Company Profile

(Get Free Report)

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.

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