Block (NYSE:SQ) Shares Down 0.3%

Shares of Block, Inc. (NYSE:SQGet Free Report) were down 0.3% during trading on Tuesday . The company traded as low as $61.90 and last traded at $62.34. Approximately 1,623,085 shares changed hands during trading, a decline of 83% from the average daily volume of 9,363,015 shares. The stock had previously closed at $62.50.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on SQ. Wedbush reaffirmed an “outperform” rating and set a $90.00 target price on shares of Block in a research report on Friday, May 3rd. Canaccord Genuity Group reaffirmed a “buy” rating and issued a $95.00 price target on shares of Block in a report on Friday, May 3rd. Susquehanna reissued a “positive” rating and set a $100.00 price objective on shares of Block in a report on Monday, April 22nd. Royal Bank of Canada upped their target price on Block from $77.00 to $88.00 and gave the company an “outperform” rating in a research note on Friday, February 23rd. Finally, Wolfe Research boosted their price target on shares of Block from $95.00 to $100.00 and gave the company an “outperform” rating in a report on Thursday, April 11th. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and twenty-seven have assigned a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $87.59.

View Our Latest Stock Report on SQ

Block Stock Performance

The firm’s 50-day moving average price is $69.91 and its 200 day moving average price is $71.85. The company has a market cap of $38.40 billion, a price-to-earnings ratio of 80.96, a PEG ratio of 1.45 and a beta of 2.54. The company has a debt-to-equity ratio of 0.16, a quick ratio of 1.64 and a current ratio of 1.64.

Block (NYSE:SQGet Free Report) last issued its earnings results on Thursday, May 2nd. The technology company reported $0.47 EPS for the quarter, beating the consensus estimate of $0.15 by $0.32. The company had revenue of $5.96 billion during the quarter, compared to analysts’ expectations of $5.75 billion. Block had a net margin of 2.18% and a return on equity of 2.04%. On average, sell-side analysts anticipate that Block, Inc. will post 1.28 EPS for the current year.

Insider Transactions at Block

In other Block news, CAO Ajmere Dale sold 500 shares of the stock in a transaction on Monday, April 1st. The shares were sold at an average price of $84.75, for a total value of $42,375.00. Following the sale, the chief accounting officer now directly owns 68,323 shares in the company, valued at $5,790,374.25. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In other news, CFO Amrita Ahuja sold 4,170 shares of the business’s stock in a transaction dated Tuesday, April 2nd. The stock was sold at an average price of $78.84, for a total value of $328,762.80. Following the sale, the chief financial officer now directly owns 193,192 shares in the company, valued at $15,231,257.28. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CAO Ajmere Dale sold 500 shares of the company’s stock in a transaction that occurred on Monday, April 1st. The stock was sold at an average price of $84.75, for a total value of $42,375.00. Following the transaction, the chief accounting officer now directly owns 68,323 shares of the company’s stock, valued at approximately $5,790,374.25. The disclosure for this sale can be found here. In the last ninety days, insiders sold 247,739 shares of company stock worth $18,584,747. 10.49% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Block

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. DekaBank Deutsche Girozentrale raised its holdings in Block by 303.4% during the first quarter. DekaBank Deutsche Girozentrale now owns 541,589 shares of the technology company’s stock worth $45,333,000 after acquiring an additional 407,333 shares in the last quarter. Cetera Advisors LLC raised its position in Block by 100.9% during the first quarter. Cetera Advisors LLC now owns 32,843 shares of the technology company’s stock worth $2,778,000 after acquiring an additional 16,492 shares in the last quarter. Cetera Investment Advisers lifted its stake in Block by 194.8% in the first quarter. Cetera Investment Advisers now owns 104,642 shares of the technology company’s stock valued at $8,851,000 after acquiring an additional 69,146 shares during the last quarter. Atria Investments Inc increased its stake in shares of Block by 17.8% during the 1st quarter. Atria Investments Inc now owns 58,991 shares of the technology company’s stock worth $4,989,000 after purchasing an additional 8,926 shares during the last quarter. Finally, Swedbank AB acquired a new stake in Block in the 1st quarter valued at about $2,842,000. 70.44% of the stock is currently owned by institutional investors and hedge funds.

About Block

(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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