Block, Inc. (NYSE:SQ) CAO Sells $80,000.00 in Stock

Block, Inc. (NYSE:SQ) CAO Ajmere Dale sold 1,000 shares of the business’s stock in a transaction on Monday, November 11th. The stock was sold at an average price of $80.00, for a total value of $80,000.00. Following the completion of the sale, the chief accounting officer now directly owns 88,791 shares in the company, valued at $7,103,280. This represents a 1.11 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link.

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

• 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.
• On Wednesday, August 21st, Ajmere Dale sold 1,406 shares of Block stock. The stock was sold at an average price of $64.70, for a total value of $90,968.20.

Block Price Performance

Shares of NYSE:SQ opened at $83.42 on Friday. Block, Inc. has a fifty-two week low of $55.00 and a fifty-two week high of $90.00. The business has a 50-day moving average of $70.11 and a two-hundred day moving average of $67.22. The stock has a market capitalization of $51.36 billion, a P/E ratio of 46.87, a P/E/G ratio of 1.16 and a beta of 2.48. The company has a debt-to-equity ratio of 0.26, a current ratio of 2.07 and a quick ratio of 2.07.

Hedge Funds Weigh In On Block

Several large investors have recently made changes to their positions in SQ. Baillie Gifford & Co. lifted its position in shares of Block by 45.7% during the 2nd quarter. Baillie Gifford & Co. now owns 10,085,229 shares of the technology company’s stock worth $650,396,000 after purchasing an additional 3,163,975 shares during the last quarter. Southpoint Capital Advisors LP bought a new position in Block during the third quarter valued at about $114,121,000. Massachusetts Financial Services Co. MA increased its stake in Block by 770.0% during the third quarter. Massachusetts Financial Services Co. MA now owns 1,738,708 shares of the technology company’s stock valued at $116,719,000 after acquiring an additional 1,538,849 shares during the period. Lone Pine Capital LLC increased its stake in Block by 13.9% during 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, D1 Capital Partners L.P. increased its stake in Block by 76.7% during the second quarter. D1 Capital Partners L.P. now owns 1,831,342 shares of the technology company’s stock valued at $118,103,000 after acquiring an additional 795,000 shares during the period. Institutional investors and hedge funds own 70.44% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on SQ shares. BMO Capital Markets decreased their target price on Block from $93.00 to $92.00 and set an “outperform” rating on the stock in a report on Thursday, October 3rd. Oppenheimer started coverage on Block in a report on Tuesday, October 1st. They issued a “market perform” rating on the stock. Keefe, Bruyette & Woods lifted their target price on Block from $71.00 to $80.00 and gave the stock a “market perform” rating in a report on Friday, November 8th. Piper Sandler restated an “overweight” rating and issued a $83.00 target price on shares of Block in a report on Monday. Finally, William Blair upgraded Block to a “strong-buy” rating in a report on Wednesday, July 31st. One research analyst has rated the stock with a sell rating, five have assigned a hold rating, twenty-three have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $91.30.

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.