Insider Selling: Block, Inc. (NYSE:SQ) CAO Sells $162,836.83 in Stock

Block, Inc. (NYSE:SQ) CAO Ajmere Dale sold 1,781 shares of the company’s 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 sale, the chief accounting officer now owns 86,010 shares in the company, valued at $7,863,894.30. This trade represents a 2.03 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink.

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

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

Block Stock Performance

Shares of SQ opened at $88.77 on Thursday. Block, Inc. has a 52-week low of $55.00 and a 52-week high of $94.12. The stock’s 50-day simple moving average is $75.20 and its 200 day simple moving average is $68.47. 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 stock has a market capitalization of $55.02 billion, a price-to-earnings ratio of 49.87, a price-to-earnings-growth ratio of 1.22 and a beta of 2.48.

Institutional Investors Weigh In On Block

A number of institutional investors and hedge funds have recently modified their holdings of SQ. Synovus Financial Corp increased its holdings in shares of Block by 18.6% in the third quarter. Synovus Financial Corp now owns 10,174 shares of the technology company’s stock worth $683,000 after purchasing an additional 1,593 shares during the period. Wilmington Savings Fund Society FSB grew its position in Block by 38.1% during the third quarter. Wilmington Savings Fund Society FSB now owns 9,893 shares of the technology company’s stock worth $664,000 after buying an additional 2,728 shares in the last quarter. Sanctuary Advisors LLC increased its stake in Block by 7.5% in the 3rd quarter. Sanctuary Advisors LLC now owns 52,412 shares of the technology company’s stock worth $3,518,000 after acquiring an additional 3,639 shares during the last quarter. Hohimer Wealth Management LLC raised its holdings in shares of Block by 3.8% in the 3rd quarter. Hohimer Wealth Management LLC now owns 15,833 shares of the technology company’s stock valued at $1,063,000 after acquiring an additional 580 shares in the last quarter. Finally, TD Private Client Wealth LLC boosted its position in shares of Block by 15.8% during the 3rd quarter. TD Private Client Wealth LLC now owns 2,066 shares of the technology company’s stock valued at $139,000 after acquiring an additional 282 shares during the last quarter. 70.44% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on SQ shares. Keefe, Bruyette & Woods raised their price target 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 reiterated an “overweight” rating and set a $83.00 price target on shares of Block in a report on Monday, November 11th. BMO Capital Markets lowered shares of Block from an “outperform” rating to a “market perform” rating and increased their price objective for the company from $94.00 to $100.00 in a research note on Monday. New Street Research started coverage on shares of Block in a research report on Monday, September 9th. They set a “neutral” rating and a $70.00 target price on the stock. Finally, Royal Bank of Canada reaffirmed an “outperform” rating and issued a $88.00 target price on shares of Block in a report on Monday, October 21st. 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 stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $91.46.

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.