Block, Inc. (NYSE:SQ) CFO Sells $483,712.88 in Stock

Block, Inc. (NYSE:SQ) CFO Amrita Ahuja sold 6,788 shares of Block stock in a transaction dated Tuesday, May 21st. The shares were sold at an average price of $71.26, for a total value of $483,712.88. Following the transaction, the chief financial officer now directly owns 282,886 shares in the company, valued at approximately $20,158,456.36. The transaction was disclosed in a legal filing with the SEC, which is available through this link.

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

• On Tuesday, April 2nd, Amrita Ahuja sold 4,170 shares of Block stock. The shares were sold at an average price of $78.84, for a total value of $328,762.80.

Block Price Performance

Shares of SQ stock opened at $66.34 on Friday. The stock’s fifty day moving average is $75.19 and its 200-day moving average is $70.98. The company has a debt-to-equity ratio of 0.16, a quick ratio of 1.64 and a current ratio of 1.64. The stock has a market capitalization of $40.93 billion, a PE ratio of 86.16, a PEG ratio of 1.58 and a beta of 2.57. Block, Inc. has a 52 week low of $38.85 and a 52 week high of $87.52.

Block (NYSE:SQ) last announced its earnings results on Thursday, May 2nd. The technology company reported $0.47 EPS for the quarter, topping the consensus estimate of $0.15 by $0.32. The company had revenue of $5.96 billion for the quarter, compared to analysts’ expectations of $5.75 billion. Block had a return on equity of 2.04% and a net margin of 2.18%. Equities research analysts expect that Block, Inc. will post 1.26 EPS for the current fiscal year.

Hedge Funds Weigh In On Block

Several hedge funds have recently added to or reduced their stakes in SQ. Montag A & Associates Inc. boosted its holdings in Block by 843.2% in the fourth quarter. Montag A & Associates Inc. now owns 349 shares of the technology company’s stock valued at $27,000 after acquiring an additional 312 shares during the last quarter. Riverview Trust Co acquired a new position in Block in the first quarter valued at about $28,000. Front Row Advisors LLC lifted its stake in Block by 67,500.0% in the third quarter. Front Row Advisors LLC now owns 676 shares of the technology company’s stock valued at $30,000 after buying an additional 675 shares during the period. Larson Financial Group LLC lifted its stake in Block by 38.4% in the third quarter. Larson Financial Group LLC now owns 728 shares of the technology company’s stock valued at $32,000 after buying an additional 202 shares during the period. Finally, Tidemark LLC acquired a new position in Block in the fourth quarter valued at about $32,000. Institutional investors own 70.44% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have weighed in on SQ. Canaccord Genuity Group reaffirmed a “buy” rating and set a $95.00 target price on shares of Block in a research note on Friday, May 3rd. Piper Sandler reaffirmed an “overweight” rating and set a $88.00 target price (up previously from $86.00) on shares of Block in a research note on Friday, February 23rd. Evercore ISI reaffirmed an “in-line” rating and set a $75.00 target price on shares of Block in a research report on Tuesday, March 26th. KeyCorp upped their target price on Block from $80.00 to $95.00 and gave the stock an “overweight” rating in a research report on Wednesday, March 27th. Finally, TD Cowen upped their price target on Block from $90.00 to $92.00 and gave the stock a “buy” rating in a report on Friday, May 3rd. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and twenty-seven have issued a buy rating to the company. According to MarketBeat.com, Block has an average rating of “Moderate Buy” and an average target price of $87.59.

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.