Block, Inc. (NYSE:SQ) Insider Sells $759,347.04 in Stock

Block, Inc. (NYSE:SQ) insider Brian Grassadonia sold 8,328 shares of the firm’s stock in a transaction on Thursday, November 21st. The shares were sold at an average price of $91.18, for a total transaction of $759,347.04. Following the completion of the transaction, the insider now directly 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 ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link.

Brian Grassadonia also recently made the following trade(s):

• On Wednesday, October 2nd, Brian Grassadonia sold 1,884 shares of Block stock. The stock was sold at an average price of $65.41, for a total value of $123,232.44.

Block Trading Down 1.9 %

NYSE SQ opened at $89.04 on Wednesday. The stock has a market cap of $55.19 billion, a P/E ratio of 50.02, a price-to-earnings-growth ratio of 1.24 and a beta of 2.48. The company has a debt-to-equity ratio of 0.26, a quick ratio of 2.07 and a current ratio of 2.07. Block, Inc. has a fifty-two week low of $55.00 and a fifty-two week high of $94.12. The stock has a 50 day simple moving average of $74.76 and a two-hundred day simple moving average of $68.32.

Wall Street Analyst Weigh In

Several research firms have weighed in on SQ. Benchmark reaffirmed a “buy” rating and issued a $99.00 price target on shares of Block in a report on Friday, August 2nd. Oppenheimer started coverage on shares of Block in a research note on Tuesday, October 1st. They issued a “market perform” rating on the stock. Morgan Stanley cut their price target on shares of Block from $60.00 to $55.00 and set an “underweight” rating for the company in a research note on Tuesday, July 30th. 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 on the stock. Finally, Royal Bank of Canada reiterated an “outperform” rating and issued a $88.00 target price on shares of Block in a research report on Monday, October 21st. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and twenty-three have given a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $91.46.

Hedge Funds Weigh In On Block

Several large investors have recently made changes to their positions in SQ. SouthState Corp increased its position 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 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. LRI Investments LLC purchased a new position in shares of Block in the 1st quarter worth about $34,000. Unique Wealth Strategies LLC purchased a new stake in Block during the 2nd quarter valued at about $34,000. Finally, Migdal Insurance & Financial Holdings Ltd. bought a new stake in Block during the 2nd quarter valued at about $44,000. 70.44% of the stock is currently owned by hedge funds and other institutional investors.

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.