Block, Inc. (NYSE:SQ) CFO Amrita Ahuja Sells 6,661 Shares

Block, Inc. (NYSE:SQ) CFO Amrita Ahuja sold 6,661 shares of the stock in a transaction on Thursday, November 21st. The stock was sold at an average price of $91.43, for a total value of $609,015.23. Following the sale, the chief financial officer now owns 246,967 shares in the company, valued at $22,580,192.81. The trade was a 2.63 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website.

Amrita Ahuja also recently made the following trade(s):

• On Wednesday, October 2nd, Amrita Ahuja sold 5,935 shares of Block stock. The stock was sold at an average price of $65.53, for a total transaction of $388,920.55.

Block Trading Down 1.6 %

Shares of NYSE:SQ opened at $90.79 on Tuesday. The firm has a market cap of $56.27 billion, a price-to-earnings ratio of 51.01, a PEG ratio of 1.24 and a beta of 2.48. Block, Inc. has a 12 month low of $55.00 and a 12 month high of $94.12. The company’s fifty day simple moving average is $74.33 and its 200 day simple moving average is $68.20. The company has a quick ratio of 2.07, a current ratio of 2.07 and a debt-to-equity ratio of 0.26.

Hedge Funds Weigh In On Block

A number of large investors have recently added to or reduced their stakes in the company. Baillie Gifford & Co. grew its holdings in shares of Block by 1.5% during the third quarter. Baillie Gifford & Co. now owns 10,233,102 shares of the technology company’s stock worth $686,948,000 after buying an additional 147,873 shares in the last quarter. Geode Capital Management LLC boosted its position in Block by 1.6% during the 3rd quarter. Geode Capital Management LLC now owns 8,690,075 shares of the technology company’s stock worth $581,923,000 after acquiring an additional 133,002 shares during the last quarter. Lone Pine Capital LLC grew its stake in shares of Block by 13.9% during the 2nd quarter. Lone Pine Capital LLC now owns 7,670,523 shares of the technology company’s stock worth $494,672,000 after acquiring an additional 934,588 shares in the last quarter. Charles Schwab Investment Management Inc. raised its holdings in shares of 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 purchasing an additional 45,472 shares during the last quarter. Finally, Dimensional Fund Advisors LP lifted its position in shares of Block by 17.8% in the second quarter. Dimensional Fund Advisors LP now owns 2,157,733 shares of the technology company’s stock worth $139,143,000 after purchasing an additional 326,444 shares in the last quarter. Institutional investors own 70.44% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on the stock. Needham & Company LLC boosted their target price on shares of Block from $80.00 to $90.00 and gave the stock a “buy” rating in a research note on Friday, November 8th. Benchmark reaffirmed a “buy” rating and set a $99.00 price objective on shares of Block in a report on Friday, August 2nd. BNP Paribas lowered Block from an “outperform” rating to a “neutral” rating and set a $88.00 price objective on the stock. in a research report on Wednesday, November 20th. William Blair restated an “outperform” rating on shares of Block in a research report on Friday, November 15th. Finally, UBS Group decreased their price target on Block from $100.00 to $92.00 and set a “buy” rating on the stock in a report on Tuesday, August 27th. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and twenty-three have assigned a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $91.46.

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.