Block (NYSE:SQ) Given “Overweight” Rating at Piper Sandler

Piper Sandler restated their overweight rating on shares of Block (NYSE:SQ) in a research note released on Monday morning, Marketbeat Ratings reports. The firm currently has a $83.00 price objective on the technology company’s stock.

A number of other equities analysts have also recently weighed in on the stock. New Street Research began coverage on shares of Block in a research report on Monday, September 9th. They set a “neutral” rating and a $70.00 price objective for the company. William Blair upgraded Block to a “strong-buy” rating in a research report on Wednesday, July 31st. BMO Capital Markets cut their price objective on Block from $93.00 to $92.00 and set an “outperform” rating on the stock in a report on Thursday, October 3rd. Macquarie restated an “outperform” rating and set a $100.00 target price on shares of Block in a report on Friday, July 26th. Finally, Needham & Company LLC lifted their target price on Block from $80.00 to $90.00 and gave the company a “buy” rating in a research report on Friday, November 8th. One analyst has rated the stock with a sell rating, five have issued a hold rating, twenty-three have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, Block presently has an average rating of “Moderate Buy” and a consensus target price of $91.30.

Block Stock Down 2.8 %

Shares of SQ opened at $83.42 on Monday. The company’s 50-day moving average price is $70.11 and its 200 day moving average price is $67.22. Block has a 12-month low of $55.00 and a 12-month high of $90.00. The company has a current ratio of 2.07, a quick ratio of 2.07 and a debt-to-equity ratio of 0.26. The firm has a market cap of $51.36 billion, a P/E ratio of 46.87, a price-to-earnings-growth ratio of 1.16 and a beta of 2.48.

Insider Activity at Block

In related news, insider Chrysty Esperanza sold 2,964 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 value of $237,120.00. Following the completion of the sale, the insider now directly owns 88,607 shares of the company’s stock, valued at $7,088,560. This represents a 3.24 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CAO Ajmere Dale sold 1,000 shares of Block stock in a transaction that occurred on Monday, November 11th. The stock was sold at an average price of $80.00, for a total value of $80,000.00. Following the transaction, the chief accounting officer now directly 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 28,678 shares of company stock valued at $1,924,112 in the last ninety days. Insiders own 10.49% of the company’s stock.

Institutional Trading of Block

A number of large investors have recently bought and sold shares of the business. SouthState Corp increased its stake in Block by 85.3% in the third quarter. SouthState Corp now owns 391 shares of the technology company’s stock valued at $26,000 after purchasing an additional 180 shares during the period. LRI Investments LLC acquired a new position in Block in the 1st quarter valued at about $34,000. True Wealth Design LLC raised 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 acquiring an additional 194 shares during the last quarter. Unique Wealth Strategies LLC acquired a new stake in Block during the 2nd quarter worth approximately $34,000. Finally, V Square Quantitative Management LLC purchased a new position in shares of Block in the 3rd quarter valued at approximately $46,000. Institutional investors and hedge funds 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.