Block, Inc. (NYSE:SQ) Insider Chrysty Esperanza Sells 2,964 Shares

Block, Inc. (NYSE:SQ) insider Chrysty Esperanza sold 2,964 shares of the company’s stock in a transaction dated Monday, November 11th. The shares were sold at an average price of $80.00, for a total transaction of $237,120.00. Following the transaction, the insider now owns 88,607 shares in the company, valued at $7,088,560. This represents a 3.24 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website.

Block Trading Up 1.1 %

Block stock opened at $84.30 on Friday. The company has a quick ratio of 2.07, a current ratio of 2.07 and a debt-to-equity ratio of 0.26. Block, Inc. has a 52 week low of $55.00 and a 52 week high of $90.00. The company has a market capitalization of $51.90 billion, a price-to-earnings ratio of 47.36, a price-to-earnings-growth ratio of 1.16 and a beta of 2.48. The stock has a 50-day moving average price of $70.48 and a 200 day moving average price of $67.33.

Analyst Ratings Changes

Several equities analysts have recently weighed in on the stock. Oppenheimer assumed coverage on shares of Block in a research note on Tuesday, October 1st. They issued a “market perform” rating on the stock. Macquarie reissued an “outperform” rating and issued a $100.00 target price on shares of Block in a report on Friday, July 26th. Keefe, Bruyette & Woods increased their target price on shares of Block from $71.00 to $80.00 and gave the stock a “market perform” rating in a report on Friday, November 8th. Piper Sandler reissued an “overweight” rating and issued a $83.00 target price on shares of Block in a report on Monday, November 11th. Finally, Benchmark reissued a “buy” rating and issued a $99.00 target price on shares of Block in a report on Friday, August 2nd. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and twenty-four have assigned a buy rating to the stock. According to MarketBeat, Block presently has a consensus rating of “Moderate Buy” and an average target price of $91.30.

Institutional Investors Weigh In On Block

A number of institutional investors and hedge funds have recently modified their holdings of SQ. Vanguard Group Inc. lifted its holdings in Block by 0.9% in the first quarter. Vanguard Group Inc. now owns 36,511,250 shares of the technology company’s stock valued at $3,088,122,000 after acquiring an additional 318,549 shares during the period. Capital World Investors lifted its holdings in Block by 4.7% in the first quarter. Capital World Investors now owns 13,096,614 shares of the technology company’s stock valued at $1,107,712,000 after acquiring an additional 582,826 shares during the period. Baillie Gifford & Co. lifted its holdings in Block by 1.5% in the third quarter. Baillie Gifford & Co. now owns 10,233,102 shares of the technology company’s stock valued at $686,948,000 after acquiring an additional 147,873 shares during the period. Lone Pine Capital LLC lifted its holdings in 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 acquiring an additional 934,588 shares during the period. Finally, Charles Schwab Investment Management Inc. lifted its holdings in Block by 2.1% in the third quarter. Charles Schwab Investment Management Inc. now owns 2,202,388 shares of the technology company’s stock valued at $147,846,000 after acquiring an additional 45,472 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.