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

StockNews.com assumed coverage on shares of Block (NYSE:SQ) in a research report report published on Friday morning. The brokerage issued a hold rating on the technology company’s stock.

Several other research firms have also weighed in on SQ. Wells Fargo & Company raised their target price on Block from $85.00 to $95.00 and gave the company an “overweight” rating in a report on Thursday, January 16th. Sanford C. Bernstein increased their price target on Block from $90.00 to $120.00 and gave the company an “outperform” rating in a report on Monday, December 2nd. Needham & Company LLC raised their target price on shares of Block from $80.00 to $90.00 and gave the company a “buy” rating in a research note on Friday, November 8th. William Blair reissued an “outperform” rating on shares of Block in a research report on Friday, November 15th. Finally, Morgan Stanley raised their price target on Block from $60.00 to $65.00 and gave the company an “underweight” rating in a research report on Wednesday, December 18th. One analyst has rated the stock with a sell rating, six have given a hold rating and twenty-six have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Block currently has a consensus rating of “Moderate Buy” and an average price target of $98.10.

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 company has a market capitalization of $53.90 billion, a price-to-earnings ratio of 48.92, a PEG ratio of 0.79 and a beta of 2.51. Block has a 52-week low of $55.00 and a 52-week high of $99.26. The company’s fifty day simple moving average is $89.68 and its 200 day simple moving average is $75.13.

Insider Activity at Block

In other news, CAO Ajmere Dale sold 1,000 shares of Block stock in a transaction that occurred on Monday, November 11th. The shares were sold at an average price of $80.00, for a total value of $80,000.00. Following the completion of the transaction, the chief accounting officer now owns 88,791 shares in the company, valued at approximately $7,103,280. The trade was a 1.11 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. 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 sale, the insider now owns 88,607 shares in the company, valued at approximately $7,088,560. This trade represents a 3.24 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 29,981 shares of company stock valued at $2,681,185 in the last ninety days. Insiders own 10.49% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Key Client Fiduciary Advisors LLC raised its stake in shares of Block by 1.4% in the fourth quarter. Key Client Fiduciary Advisors LLC now owns 8,340 shares of the technology company’s stock worth $709,000 after acquiring an additional 115 shares during the last quarter. MassMutual Private Wealth & Trust FSB raised its position in Block by 48.2% in the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 418 shares of the technology company’s stock worth $36,000 after purchasing an additional 136 shares during the last quarter. Yoder Wealth Management Inc. lifted its holdings in Block by 0.4% during the 3rd quarter. Yoder Wealth Management Inc. now owns 39,688 shares of the technology company’s stock worth $2,664,000 after buying an additional 145 shares in the last quarter. Nations Financial Group Inc. IA ADV boosted its position in Block by 1.9% in the 3rd quarter. Nations Financial Group Inc. IA ADV now owns 7,744 shares of the technology company’s stock valued at $520,000 after buying an additional 145 shares during the last quarter. Finally, Wealth Enhancement Advisory Services LLC increased its stake in shares of Block by 0.5% in the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 26,864 shares of the technology company’s stock valued at $2,283,000 after buying an additional 145 shares during the period. Institutional investors and hedge funds own 70.44% of the company’s stock.

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.