Block (NYSE:SQ) Price Target Raised to $102.00 at The Goldman Sachs Group

Block (NYSE:SQ) had its target price increased by The Goldman Sachs Group from $87.00 to $102.00 in a research report sent to investors on Monday morning,Benzinga reports. They currently have a buy rating on the technology company’s stock.

A number of other brokerages also recently issued reports on SQ. Needham & Company LLC increased their price target on shares of Block from $80.00 to $90.00 and gave the stock a “buy” rating in a report on Friday, November 8th. New Street Research began coverage on Block in a research note on Monday, September 9th. They set a “neutral” rating and a $70.00 price target for the company. UBS Group lowered their price objective on shares of Block from $100.00 to $92.00 and set a “buy” rating for the company in a report on Tuesday, August 27th. William Blair restated an “outperform” rating on shares of Block in a report on Friday, November 15th. Finally, Oppenheimer initiated coverage on shares of Block in a report on Tuesday, October 1st. They issued a “market perform” rating on the stock. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and twenty-four have assigned a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $93.21.

Block Stock Up 4.8 %

SQ opened at $92.77 on Monday. The company has a market cap of $57.50 billion, a PE ratio of 52.12, a price-to-earnings-growth ratio of 1.19 and a beta of 2.48. The company has a 50 day moving average of $76.53 and a 200 day moving average of $68.85. Block has a 12 month low of $55.00 and a 12 month high of $95.95. The company has a current ratio of 2.07, a quick ratio of 2.07 and a debt-to-equity ratio of 0.26.

Insider Buying and Selling at Block

In other Block news, insider Brian Grassadonia sold 8,328 shares of Block stock in a transaction that occurred on Thursday, November 21st. The shares were sold at an average price of $91.18, for a total value of $759,347.04. Following the completion of the sale, the insider now owns 563,894 shares of the company’s stock, valued at approximately $51,415,854.92. The trade was a 1.46 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Chrysty Esperanza sold 2,964 shares of the stock in a transaction dated Monday, November 11th. The shares were sold at an average price of $80.00, for a total value of $237,120.00. Following the completion of the transaction, the insider now directly owns 88,607 shares in the company, valued at approximately $7,088,560. This represents a 3.24 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 29,053 shares of company stock worth $2,393,972. 10.49% of the stock is owned by corporate insiders.

Institutional Trading of Block

A number of hedge funds and other institutional investors have recently bought and sold shares of SQ. SouthState Corp grew its holdings in Block by 85.3% during the 3rd quarter. SouthState Corp now owns 391 shares of the technology company’s stock valued at $26,000 after buying an additional 180 shares in the last quarter. True Wealth Design LLC grew its stake in shares of Block by 64.7% during the third quarter. True Wealth Design LLC now owns 494 shares of the technology company’s stock valued at $33,000 after buying an additional 194 shares during the last quarter. Unique Wealth Strategies LLC bought a new position in Block in the 2nd quarter valued at $34,000. Migdal Insurance & Financial Holdings Ltd. bought a new position in shares of Block in the second quarter worth about $44,000. Finally, V Square Quantitative Management LLC bought a new position in Block in the 3rd quarter worth about $46,000. Hedge funds and other institutional investors own 70.44% of the company’s stock.

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.