Insider Selling: Block, Inc. (NYSE:SQ) Insider Sells $123,232.44 in Stock

Block, Inc. (NYSE:SQ) insider Brian Grassadonia sold 1,884 shares of the stock in a transaction that occurred on Wednesday, October 2nd. The stock was sold at an average price of $65.41, for a total value of $123,232.44. Following the transaction, the insider now owns 574,914 shares in the company, valued at $37,605,124.74. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website.

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

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

Block Stock Performance

NYSE:SQ opened at $67.02 on Monday. Block, Inc. has a 52 week low of $38.85 and a 52 week high of $87.52. The company has a fifty day simple moving average of $64.13 and a two-hundred day simple moving average of $67.94. The company has a quick ratio of 1.82, a current ratio of 1.82 and a debt-to-equity ratio of 0.26. The company has a market cap of $41.26 billion, a price-to-earnings ratio of 87.04, a price-to-earnings-growth ratio of 0.87 and a beta of 2.49.

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

Institutional Trading of Block

Large investors have recently made changes to their positions in the company. Wealthcare Advisory Partners LLC lifted its stake in Block by 1.3% in the first quarter. Wealthcare Advisory Partners LLC now owns 10,618 shares of the technology company’s stock worth $898,000 after acquiring an additional 139 shares during the last quarter. Financial Perspectives Inc raised its holdings in shares of Block by 7.2% in the 1st quarter. Financial Perspectives Inc now owns 2,300 shares of the technology company’s stock valued at $195,000 after purchasing an additional 155 shares in the last quarter. Valley National Advisers Inc. lifted its position in shares of Block by 25.4% during the 1st quarter. Valley National Advisers Inc. now owns 765 shares of the technology company’s stock worth $64,000 after purchasing an additional 155 shares during the last quarter. CAP Partners LLC grew its stake in shares of Block by 3.5% during the first quarter. CAP Partners LLC now owns 4,765 shares of the technology company’s stock worth $403,000 after purchasing an additional 163 shares in the last quarter. Finally, GAMMA Investing LLC increased its holdings in Block by 17.0% in the first quarter. GAMMA Investing LLC now owns 1,129 shares of the technology company’s stock valued at $95,000 after buying an additional 164 shares during the last quarter. 70.44% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

SQ has been the topic of several recent analyst reports. New Street Research began coverage on shares of Block in a report on Monday, September 9th. They set a “neutral” rating and a $70.00 price objective on the stock. Royal Bank of Canada reissued an “outperform” rating and set a $88.00 target price on shares of Block in a report on Friday, August 2nd. Deutsche Bank Aktiengesellschaft boosted their price target on Block from $90.00 to $98.00 and gave the stock a “buy” rating in a research report on Friday, July 12th. Wells Fargo & Company decreased their price objective on Block from $95.00 to $85.00 and set an “overweight” rating on the stock in a report on Friday, August 2nd. Finally, The Goldman Sachs Group reaffirmed a “buy” rating and set a $80.00 target price on shares of Block in a report on Monday, June 24th. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating, twenty-four have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target 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.