Insider Selling: Block, Inc. (NYSE:SQ) Insider Sells 2,836 Shares of Stock

Block, Inc. (NYSE:SQ) insider Owen Britton Jennings sold 2,836 shares of Block stock in a transaction that occurred on Thursday, January 2nd. The stock was sold at an average price of $89.38, for a total transaction of $253,481.68. Following the sale, the insider now owns 195,449 shares of the company’s stock, valued at approximately $17,469,231.62. This represents a 1.43 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink.

Block Stock Down 0.2 %

Shares of Block stock traded down $0.15 on Monday, reaching $92.01. 6,455,905 shares of the company were exchanged, compared to its average volume of 7,594,174. The company has a market capitalization of $57.03 billion, a price-to-earnings ratio of 51.69, a PEG ratio of 1.23 and a beta of 2.51. The company has a current ratio of 2.07, a quick ratio of 2.07 and a debt-to-equity ratio of 0.26. Block, Inc. has a one year low of $55.00 and a one year high of $99.26. The company has a 50-day moving average of $87.20 and a 200 day moving average of $73.27.

Wall Street Analyst Weigh In

A number of research firms have commented on SQ. William Blair reaffirmed an “outperform” rating on shares of Block in a report on Friday, November 15th. Raymond James upgraded Block from a “market perform” rating to an “outperform” rating and set a $115.00 price objective for the company in a report on Friday. Keefe, Bruyette & Woods reduced their target price on Block from $105.00 to $100.00 and set a “market perform” rating on the stock in a report on Monday. Macquarie upped their price target on Block from $100.00 to $110.00 and gave the company an “outperform” rating in a research note on Tuesday, December 10th. Finally, New Street Research initiated coverage on shares of Block in a research note on Monday, September 9th. They set a “neutral” rating and a $70.00 price objective on the stock. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and twenty-seven have assigned a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $96.77.

Institutional Trading of Block

Several institutional investors and hedge funds have recently added to or reduced their stakes in SQ. SouthState Corp increased its stake in shares of Block by 85.3% during the 3rd quarter. SouthState Corp now owns 391 shares of the technology company’s stock worth $26,000 after purchasing an additional 180 shares during the last quarter. True Wealth Design LLC increased its position in 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 buying an additional 194 shares during the last quarter. Versant Capital Management Inc raised its stake in Block by 67.7% in the fourth quarter. Versant Capital Management Inc now owns 394 shares of the technology company’s stock valued at $33,000 after buying an additional 159 shares during the period. V Square Quantitative Management LLC acquired a new stake in shares of Block in the third quarter valued at approximately $46,000. Finally, Asset Dedication LLC boosted its stake in shares of Block by 392.7% during the 2nd quarter. Asset Dedication LLC now owns 877 shares of the technology company’s stock worth $57,000 after acquiring an additional 699 shares during the period. 70.44% of the stock is owned by institutional investors.

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.