Block, Inc. (NYSE:SQ) Given Average Recommendation of “Moderate Buy” by Analysts

Block, Inc. (NYSE:SQ) has earned an average rating of “Moderate Buy” from the thirty-three ratings firms that are presently covering the firm, Marketbeat.com reports. One equities research analyst has rated the stock with a sell recommendation, five have assigned a hold recommendation and twenty-seven have given a buy recommendation to the company. The average 1-year price objective among brokerages that have updated their coverage on the stock in the last year is $96.94.

A number of research analysts recently commented on the company. Barclays boosted their price target on Block from $100.00 to $112.00 and gave the company an “overweight” rating in a research note on Tuesday, December 17th. Keefe, Bruyette & Woods upped their price target on shares of Block from $80.00 to $105.00 and gave the stock a “market perform” rating in a report on Monday, December 9th. Macquarie lifted their price objective on shares of Block from $100.00 to $110.00 and gave the company an “outperform” rating in a research note on Tuesday, December 10th. Raymond James upgraded Block from a “market perform” rating to an “outperform” rating and set a $115.00 target price for the company in a research note on Friday. Finally, Sanford C. Bernstein lifted their price target on Block from $90.00 to $120.00 and gave the company an “outperform” rating in a research note on Monday, December 2nd.

Insider Buying and Selling at Block

In related news, insider Brian Grassadonia sold 8,328 shares of the company’s stock in a transaction dated Thursday, November 21st. The stock was sold at an average price of $91.18, for a total transaction of $759,347.04. Following the sale, the insider now owns 563,894 shares in the company, valued at $51,415,854.92. This represents a 1.46 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Chrysty Esperanza sold 2,865 shares of Block stock in a transaction that occurred on Monday, December 2nd. The stock was sold at an average price of $95.00, for a total value of $272,175.00. Following the completion of the sale, the insider now owns 85,235 shares of the company’s stock, valued at approximately $8,097,325. The trade was a 3.25 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 23,599 shares of company stock valued at $2,120,494. 10.49% of the stock is currently owned by company insiders.

Institutional Trading of Block

Several large investors have recently modified their holdings of the stock. SouthState Corp boosted its stake in Block by 85.3% during the third quarter. SouthState Corp now owns 391 shares of the technology company’s stock worth $26,000 after acquiring an additional 180 shares in the last quarter. Versant Capital Management Inc raised its holdings in shares of Block by 67.7% during the fourth quarter. Versant Capital Management Inc now owns 394 shares of the technology company’s stock valued at $33,000 after purchasing an additional 159 shares during the period. True Wealth Design LLC boosted its position in shares of Block by 64.7% during the 3rd quarter. True Wealth Design LLC now owns 494 shares of the technology company’s stock worth $33,000 after purchasing an additional 194 shares in the last quarter. V Square Quantitative Management LLC bought a new position in shares of Block during the 3rd quarter worth about $46,000. Finally, Future Financial Wealth Managment LLC acquired a new stake in shares of Block in the 3rd quarter valued at about $57,000. Institutional investors and hedge funds own 70.44% of the company’s stock.

Block Trading Up 6.2 %

Shares of NYSE:SQ opened at $92.16 on Friday. The business’s 50 day simple moving average is $87.20 and its 200 day simple moving average is $73.11. Block has a 1 year low of $55.00 and a 1 year high of $99.26. 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 company has a market capitalization of $57.12 billion, a P/E ratio of 51.78, a P/E/G ratio of 1.23 and a beta of 2.51.

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.