Block, Inc. (NYSE:SQ) Receives $90.56 Average PT from Brokerages

Block, Inc. (NYSE:SQ) has been given an average rating of “Moderate Buy” by the thirty research firms that are presently covering the stock, MarketBeat.com reports. One research analyst has rated the stock with a sell recommendation, five have given a hold recommendation and twenty-four have assigned a buy recommendation to the company. The average 12 month price objective among brokers that have covered the stock in the last year is $91.30.

Several equities research analysts have commented on the stock. Canaccord Genuity Group upped their price objective on shares of Block from $95.00 to $120.00 and gave the company a “buy” rating in a report on Tuesday. New Street Research initiated coverage on shares of Block in a research note on Monday, September 9th. They set a “neutral” rating and a $70.00 price target on the stock. Macquarie reissued an “outperform” rating and issued a $100.00 price target on shares of Block in a report on Friday, July 26th. Royal Bank of Canada reiterated an “outperform” rating and issued a $88.00 target price on shares of Block in a research note on Monday, October 21st. Finally, Piper Sandler reissued an “overweight” rating and issued a $83.00 price target on shares of Block in a report on Monday, November 11th.

Block Stock Up 1.1 %

Shares of NYSE SQ opened at $84.30 on Friday. The business’s fifty day moving average price is $70.48 and its 200-day moving average price is $67.33. Block has a one year low of $55.00 and a one year high of $90.00. The stock has a market capitalization of $51.90 billion, a PE ratio of 47.36, a P/E/G ratio of 1.16 and a beta of 2.48. The company has a debt-to-equity ratio of 0.26, a current ratio of 2.07 and a quick ratio of 2.07.

Insider Buying and Selling

In related news, insider Brian Grassadonia sold 8,328 shares of Block stock in a transaction dated Wednesday, August 21st. The shares were sold at an average price of $64.77, for a total transaction of $539,404.56. Following the completion of the transaction, the insider now directly owns 580,086 shares of the company’s stock, valued at $37,572,170.22. This trade represents a 1.42 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CAO Ajmere Dale sold 1,000 shares of the company’s stock in a transaction dated Monday, November 11th. The stock was sold at an average price of $80.00, for a total transaction of $80,000.00. Following the completion of the sale, the chief accounting officer now owns 88,791 shares in the company, valued at approximately $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 a total of 28,678 shares of company stock worth $1,924,112 in the last ninety days. 10.49% of the stock is owned by insiders.

Institutional Trading of Block

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Yoder Wealth Management Inc. increased its stake 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 in the last quarter. Nations Financial Group Inc. IA ADV increased its position 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 acquiring an additional 145 shares in the last quarter. Moser Wealth Advisors LLC raised its holdings in Block by 2.5% in the 3rd quarter. Moser Wealth Advisors LLC now owns 6,265 shares of the technology company’s stock worth $421,000 after acquiring an additional 153 shares during the last quarter. Lindbrook Capital LLC lifted its position in Block by 6.3% in the 3rd quarter. Lindbrook Capital LLC now owns 2,592 shares of the technology company’s stock valued at $174,000 after acquiring an additional 154 shares in the last quarter. Finally, Larson Financial Group LLC boosted its stake in Block by 14.8% during the 3rd quarter. Larson Financial Group LLC now owns 1,192 shares of the technology company’s stock valued at $80,000 after purchasing an additional 154 shares during the last quarter. Hedge funds and other 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.