Block (NYSE:SQ) Now Covered by StockNews.com

Analysts at StockNews.com began coverage on shares of Block (NYSE:SQ) in a research note issued to investors on Thursday. The firm set a “hold” rating on the technology company’s stock.

SQ has been the topic of several other reports. Macquarie boosted their target price on Block from $100.00 to $110.00 and gave the company an “outperform” rating in a research note on Tuesday, December 10th. Royal Bank of Canada reiterated an “outperform” rating and issued a $88.00 price target on shares of Block in a research note on Monday, October 21st. Morgan Stanley raised their price objective on Block from $60.00 to $65.00 and gave the company an “underweight” rating in a research report on Wednesday, December 18th. Raymond James upgraded shares of Block from a “market perform” rating to an “outperform” rating and set a $115.00 target price on the stock in a research note on Friday, January 3rd. Finally, Citigroup upped their price objective on Block from $90.00 to $108.00 and gave the company a “buy” rating in a research report on Tuesday, January 14th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and twenty-seven have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $97.68.

Block Stock Performance

The company has a debt-to-equity ratio of 0.26, a quick ratio of 2.07 and a current ratio of 2.07. The business has a 50 day moving average of $89.68 and a 200-day moving average of $75.13. The stock has a market capitalization of $53.90 billion, a P/E ratio of 48.92, a P/E/G ratio of 0.79 and a beta of 2.51. Block has a twelve month low of $55.00 and a twelve month high of $99.26.

Insider Buying and Selling at Block

In other Block news, insider Brian Grassadonia sold 8,328 shares of the company’s stock in a transaction dated Thursday, November 21st. The shares were sold at an average price of $91.18, for a total value of $759,347.04. Following the transaction, the insider now directly 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 legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Chrysty Esperanza sold 2,964 shares of the 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 $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 trade represents a 3.24 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 29,981 shares of company stock worth $2,681,185 over the last quarter. Insiders own 10.49% of the company’s stock.

Institutional Trading of Block

Several hedge funds and other institutional investors have recently bought and sold shares of SQ. SouthState Corp increased its position in shares of Block by 85.3% during the third quarter. SouthState Corp now owns 391 shares of the technology company’s stock worth $26,000 after purchasing an additional 180 shares in the last quarter. True Wealth Design LLC increased its holdings 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 acquiring an additional 194 shares in the last quarter. Versant Capital Management Inc raised its position in shares of Block by 67.7% in the 4th 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 last quarter. MassMutual Private Wealth & Trust FSB raised its holdings in shares of Block by 48.2% in the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 418 shares of the technology company’s stock worth $36,000 after buying an additional 136 shares during the last quarter. Finally, V Square Quantitative Management LLC acquired a new stake in shares of Block during the third quarter worth $46,000. 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.