Block, Inc. (NYSE:SQ) CFO Sells $609,015.23 in Stock

Block, Inc. (NYSE:SQ) CFO Amrita Ahuja sold 6,661 shares of the stock in a transaction on Thursday, November 21st. The shares were sold at an average price of $91.43, for a total value of $609,015.23. Following the sale, the chief financial officer now owns 246,967 shares in the company, valued at $22,580,192.81. The trade was a 2.63 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this link.

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

• On Wednesday, October 2nd, Amrita Ahuja sold 5,935 shares of Block stock. The shares were sold at an average price of $65.53, for a total transaction of $388,920.55.

Block Trading Down 1.9 %

NYSE SQ opened at $89.04 on Wednesday. Block, Inc. has a 52 week low of $55.00 and a 52 week high of $94.12. The company has a 50 day moving average price of $74.76 and a 200 day moving average price of $68.32. The company has a quick ratio of 2.07, a current ratio of 2.07 and a debt-to-equity ratio of 0.26. The firm has a market cap of $55.19 billion, a PE ratio of 50.02, a price-to-earnings-growth ratio of 1.24 and a beta of 2.48.

Analyst Ratings Changes

SQ has been the subject of a number of recent analyst reports. BMO Capital Markets cut shares of Block from an “outperform” rating to a “market perform” rating and lifted their price target for the stock from $94.00 to $100.00 in a research note on Monday. New Street Research started coverage on Block in a research note on Monday, September 9th. They set a “neutral” rating and a $70.00 target price on the stock. Canaccord Genuity Group raised their price target on Block from $95.00 to $120.00 and gave the stock a “buy” rating in a research note on Tuesday, November 12th. Benchmark reaffirmed a “buy” rating and issued a $99.00 price objective on shares of Block in a research report on Friday, August 2nd. Finally, Keefe, Bruyette & Woods boosted their target price on shares of Block from $71.00 to $80.00 and gave the company a “market perform” rating in a research note on Friday, November 8th. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and twenty-three have issued a buy rating to the company. According to MarketBeat.com, Block presently has a consensus rating of “Moderate Buy” and a consensus target price of $91.46.

Hedge Funds Weigh In On Block

A number of large investors have recently made changes to their positions in SQ. SouthState Corp grew its stake in Block by 85.3% during the 3rd quarter. SouthState Corp now owns 391 shares of the technology company’s stock worth $26,000 after buying an additional 180 shares during the last quarter. LRI Investments LLC acquired a new position in shares of Block during the first quarter valued at about $34,000. True Wealth Design LLC increased its stake in Block by 64.7% during the 3rd quarter. True Wealth Design LLC now owns 494 shares of the technology company’s stock valued at $33,000 after purchasing an additional 194 shares in the last quarter. Unique Wealth Strategies LLC purchased a new position in shares of Block in the second quarter worth $34,000. Finally, V Square Quantitative Management LLC acquired a new stake in shares of Block during the third quarter worth $46,000. 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.