Block, Inc. (NYSE:SQ) Given Average Recommendation of “Moderate Buy” by Brokerages

Shares of Block, Inc. (NYSE:SQ) have earned an average rating of “Moderate Buy” from the thirty-two analysts that are covering the firm, Marketbeat reports. One research analyst has rated the stock with a sell recommendation, five have assigned a hold recommendation and twenty-six have assigned a buy recommendation to the company. The average 12 month price target among analysts that have issued ratings on the stock in the last year is $96.33.

A number of equities research analysts have issued reports on SQ shares. Barclays increased their target price on shares of Block from $100.00 to $112.00 and gave the stock an “overweight” rating in a research report on Tuesday, December 17th. BMO Capital Markets lowered shares of Block from an “outperform” rating to a “market perform” rating and raised their price target for the stock from $94.00 to $100.00 in a research report on Monday, November 25th. Monness Crespi & Hardt raised shares of Block from a “neutral” rating to a “buy” rating and set a $115.00 price objective for the company in a research report on Friday, December 13th. Oppenheimer raised shares of Block from a “market perform” rating to an “outperform” rating and set a $115.00 price target for the company in a research report on Thursday, December 19th. Finally, Keefe, Bruyette & Woods upped their price target on Block from $80.00 to $105.00 and gave the company a “market perform” rating in a research report on Monday, December 9th.

Insider Transactions at Block

In other Block news, CFO Amrita Ahuja sold 6,661 shares of the stock in a transaction on Thursday, November 21st. The shares were sold at an average price of $91.43, for a total value of $609,015.23. Following the completion of the sale, the chief financial officer now owns 246,967 shares in the company, valued at $22,580,192.81. This trade represents a 2.63 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CAO Ajmere Dale sold 1,000 shares of Block stock in a transaction dated Monday, November 11th. The shares were sold at an average price of $80.00, for a total transaction of $80,000.00. Following the completion of the transaction, the chief accounting officer now directly owns 88,791 shares of the company’s stock, valued at approximately $7,103,280. This trade represents a 1.11 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 23,599 shares of company stock valued at $2,120,494 over the last quarter. Corporate insiders own 10.49% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the stock. Southpoint Capital Advisors LP bought a new position in Block in the 3rd quarter valued at about $114,121,000. Massachusetts Financial Services Co. MA raised its position in shares of Block by 770.0% during the third quarter. Massachusetts Financial Services Co. MA now owns 1,738,708 shares of the technology company’s stock worth $116,719,000 after acquiring an additional 1,538,849 shares during the last quarter. Lone Pine Capital LLC raised its stake in Block by 13.9% during the second quarter. Lone Pine Capital LLC now owns 7,670,523 shares of the technology company’s stock worth $494,672,000 after buying an additional 934,588 shares during the last quarter. D1 Capital Partners L.P. boosted its position in shares of Block by 76.7% during the 2nd quarter. D1 Capital Partners L.P. now owns 1,831,342 shares of the technology company’s stock valued at $118,103,000 after purchasing an additional 795,000 shares in the last quarter. Finally, Canada Pension Plan Investment Board grew its holdings in Block by 1,061.0% in the second quarter. Canada Pension Plan Investment Board now owns 657,667 shares of the technology company’s stock worth $42,413,000 after purchasing an additional 601,020 shares during the period. 70.44% of the stock is owned by institutional investors.

Block Trading Up 2.1 %

Shares of NYSE:SQ opened at $86.75 on Friday. The company has a 50 day moving average price of $86.81 and a 200 day moving average price of $72.91. The stock has a market capitalization of $53.77 billion, a price-to-earnings ratio of 48.74, a PEG ratio of 1.23 and a beta of 2.50. 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 has a 1-year low of $55.00 and a 1-year high of $99.26.

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.