Block, Inc. (NYSE:SQ) CFO Amrita Ahuja Sells 5,277 Shares

Block, Inc. (NYSE:SQ) CFO Amrita Ahuja sold 5,277 shares of the firm’s stock in a transaction on Tuesday, July 2nd. The shares were sold at an average price of $64.13, for a total value of $338,414.01. Following the sale, the chief financial officer now directly owns 274,410 shares of the company’s stock, valued at approximately $17,597,913.30. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink.

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

• On Tuesday, May 21st, Amrita Ahuja sold 6,788 shares of Block stock. The shares were sold at an average price of $71.26, for a total value of $483,712.88.

Block Price Performance

Block stock traded up $1.34 during midday trading on Friday, reaching $65.78. The company’s stock had a trading volume of 5,387,060 shares, compared to its average volume of 9,092,967. The business has a 50-day moving average price of $67.01 and a 200-day moving average price of $71.33. Block, Inc. has a 52 week low of $38.85 and a 52 week high of $87.52. The stock has a market cap of $40.59 billion, a PE ratio of 83.44, a price-to-earnings-growth ratio of 1.51 and a beta of 2.52. The company has a current ratio of 1.64, a quick ratio of 1.64 and a debt-to-equity ratio of 0.16.

Block (NYSE:SQ) last announced its quarterly earnings results on Thursday, May 2nd. The technology company reported $0.47 EPS for the quarter, beating analysts’ consensus estimates of $0.15 by $0.32. Block had a return on equity of 2.04% and a net margin of 2.18%. The firm had revenue of $5.96 billion for the quarter, compared to analyst estimates of $5.75 billion. On average, sell-side analysts predict that Block, Inc. will post 1.28 EPS for the current year.

Analysts Set New Price Targets

Several equities research analysts have issued reports on the company. The Goldman Sachs Group reaffirmed a “buy” rating and set a $80.00 price target on shares of Block in a report on Monday, June 24th. Wolfe Research raised their price target on Block from $95.00 to $100.00 and gave the company an “outperform” rating in a report on Thursday, April 11th. TD Cowen increased their price objective on Block from $90.00 to $92.00 and gave the stock a “buy” rating in a research report on Friday, May 3rd. Robert W. Baird increased their price objective on Block from $98.00 to $100.00 and gave the stock an “outperform” rating in a research report on Friday, May 3rd. Finally, Susquehanna reiterated a “positive” rating and set a $100.00 price objective on shares of Block in a research report on Wednesday, June 26th. One 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’s stock. Based on data from MarketBeat.com, Block has a consensus rating of “Moderate Buy” and an average target price of $87.13.

Institutional Trading of Block

Hedge funds have recently made changes to their positions in the company. Montag A & Associates Inc. lifted its stake in shares of Block by 843.2% in the fourth quarter. Montag A & Associates Inc. now owns 349 shares of the technology company’s stock worth $27,000 after acquiring an additional 312 shares during the period. Riverview Trust Co acquired a new position in shares of Block in the first quarter worth approximately $28,000. Front Row Advisors LLC lifted its stake in shares of Block by 67,500.0% in the third quarter. Front Row Advisors LLC now owns 676 shares of the technology company’s stock worth $30,000 after acquiring an additional 675 shares during the period. Tidemark LLC acquired a new position in shares of Block in the fourth quarter worth approximately $32,000. Finally, YHB Investment Advisors Inc. acquired a new position in shares of Block in the first quarter worth approximately $33,000. 70.44% of the stock is owned by institutional investors and hedge funds.

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.