Brian Grassadonia Sells 1,884 Shares of Block, Inc. (NYSE:SQ) Stock

Block, Inc. (NYSE:SQ) insider Brian Grassadonia sold 1,884 shares of the business’s stock in a transaction on Wednesday, October 2nd. The shares were sold at an average price of $65.41, for a total value of $123,232.44. Following the completion of the sale, the insider now directly owns 574,914 shares in the company, valued at approximately $37,605,124.74. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link.

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

• On Wednesday, August 21st, Brian Grassadonia sold 8,328 shares of Block stock. The stock was sold at an average price of $64.77, for a total value of $539,404.56.

Block Stock Up 2.1 %

Block stock opened at $67.02 on Friday. Block, Inc. has a fifty-two week low of $38.85 and a fifty-two week high of $87.52. The company has a debt-to-equity ratio of 0.26, a current ratio of 1.82 and a quick ratio of 1.82. The firm has a market capitalization of $41.26 billion, a price-to-earnings ratio of 87.04, a PEG ratio of 0.87 and a beta of 2.49. The company’s 50 day simple moving average is $64.13 and its 200 day simple moving average is $68.03.

Block (NYSE:SQ) last announced its quarterly earnings results on Thursday, August 1st. The technology company reported $0.93 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.84 by $0.09. Block had a net margin of 3.47% and a return on equity of 3.77%. The company had revenue of $6.16 billion during the quarter, compared to analyst estimates of $6.27 billion. The firm’s revenue was up 11.2% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.40 EPS. As a group, sell-side analysts anticipate that Block, Inc. will post 1.71 EPS for the current year.

Institutional Investors Weigh In On Block

Large investors have recently modified their holdings of the business. Bares Capital Management Inc. grew its position in shares of Block by 2.0% in the 4th quarter. Bares Capital Management Inc. now owns 4,487,251 shares of the technology company’s stock valued at $347,089,000 after purchasing an additional 87,826 shares during the period. Vanguard Group Inc. lifted its stake in Block by 3.7% in the fourth quarter. Vanguard Group Inc. now owns 36,192,701 shares of the technology company’s stock valued at $2,799,505,000 after buying an additional 1,277,043 shares in the last quarter. Lone Pine Capital LLC boosted its holdings in shares of Block by 13.9% in the second quarter. Lone Pine Capital LLC now owns 7,670,523 shares of the technology company’s stock valued at $494,672,000 after buying an additional 934,588 shares during the period. &PARTNERS increased its position in shares of Block by 8.3% during the first quarter. &PARTNERS now owns 8,641 shares of the technology company’s stock worth $731,000 after acquiring an additional 659 shares in the last quarter. Finally, Cibc World Markets Corp bought a new stake in shares of Block during the fourth quarter worth $1,184,000. 70.44% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts recently issued reports on SQ shares. Susquehanna reiterated a “positive” rating and set a $100.00 target price on shares of Block in a research report on Wednesday, June 26th. Morgan Stanley dropped their price objective on shares of Block from $60.00 to $55.00 and set an “underweight” rating for the company in a report on Tuesday, July 30th. Needham & Company LLC reduced their target price on Block from $105.00 to $80.00 and set a “buy” rating on the stock in a report on Monday, August 5th. Oppenheimer initiated coverage on Block in a report on Tuesday, October 1st. They set a “market perform” rating for the company. Finally, Wells Fargo & Company cut their price objective on Block from $95.00 to $85.00 and set an “overweight” rating for the company in a research report on Friday, August 2nd. One research analyst has rated the stock with a sell rating, seven have issued a hold rating, twenty-four have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, Block presently has an average rating of “Moderate Buy” and an average target price of $87.31.

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.