Ajmere Dale Sells 1,781 Shares of Block, Inc. (NYSE:SQ) Stock

Block, Inc. (NYSE:SQ) CAO Ajmere Dale sold 1,781 shares of Block stock in a transaction dated Thursday, November 21st. The shares were sold at an average price of $91.43, for a total value of $162,836.83. Following the completion of the transaction, the chief accounting officer now owns 86,010 shares of the company’s stock, valued at approximately $7,863,894.30. This represents a 2.03 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website.

Ajmere Dale also recently made the following trade(s):

• On Monday, November 11th, Ajmere Dale sold 1,000 shares of Block stock. The shares were sold at an average price of $80.00, for a total value of $80,000.00.
• On Tuesday, October 1st, Ajmere Dale sold 500 shares of Block stock. The shares were sold at an average price of $67.00, for a total value of $33,500.00.

Block Price Performance

Shares of NYSE SQ opened at $89.04 on Wednesday. The stock’s 50-day simple moving average is $74.76 and its 200-day simple moving average is $68.32. The firm has a market capitalization of $55.19 billion, a PE ratio of 50.02, a price-to-earnings-growth ratio of 1.24 and a beta of 2.48. Block, Inc. has a fifty-two week low of $55.00 and a fifty-two week high of $94.12. The company has a debt-to-equity ratio of 0.26, a quick ratio of 2.07 and a current ratio of 2.07.

Analyst Upgrades and Downgrades

SQ has been the topic of several recent analyst reports. Wells Fargo & Company decreased their price objective on shares of Block from $95.00 to $85.00 and set an “overweight” rating on the stock in a report on Friday, August 2nd. Canaccord Genuity Group raised their price target on shares of Block from $95.00 to $120.00 and gave the company a “buy” rating in a research note on Tuesday, November 12th. Royal Bank of Canada reiterated an “outperform” rating and set a $88.00 price objective on shares of Block in a research note on Monday, October 21st. Benchmark reissued a “buy” rating and set a $99.00 target price on shares of Block in a report on Friday, August 2nd. Finally, BNP Paribas lowered Block from an “outperform” rating to a “neutral” rating and set a $88.00 price target on the stock. in a research note on Wednesday, November 20th. One equities research 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 company. According to MarketBeat, Block has an average rating of “Moderate Buy” and a consensus price target of $91.46.

Institutional Trading of Block

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in SQ. SouthState Corp raised its stake in Block by 85.3% during the 3rd quarter. SouthState Corp now owns 391 shares of the technology company’s stock worth $26,000 after acquiring an additional 180 shares in the last quarter. LRI Investments LLC purchased a new position in shares of Block during the first quarter worth about $34,000. True Wealth Design LLC increased its position 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 worth $33,000 after purchasing an additional 194 shares in the last quarter. Unique Wealth Strategies LLC purchased a new stake in shares of Block in the 2nd quarter valued at about $34,000. Finally, V Square Quantitative Management LLC acquired a new stake in shares of Block in the 3rd quarter valued at about $46,000. 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.