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

by · The Markets Daily

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

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

  • On Tuesday, October 1st, Ajmere Dale sold 500 shares of Block stock. The shares were sold at an average price of $67.00, for a total transaction 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 Stock Performance

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

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in SQ. Envestnet Portfolio Solutions Inc. raised its position in shares of Block by 53.9% in the 1st quarter. Envestnet Portfolio Solutions Inc. now owns 6,947 shares of the technology company’s stock valued at $588,000 after purchasing an additional 2,432 shares during the last quarter. Empowered Funds LLC lifted its stake in shares of Block by 28.2% during the first quarter. Empowered Funds LLC now owns 20,750 shares of the technology company’s stock worth $1,755,000 after buying an additional 4,561 shares during the period. Avantax Advisory Services Inc. grew its holdings in shares of Block by 6.3% during the first quarter. Avantax Advisory Services Inc. now owns 21,928 shares of the technology company’s stock valued at $1,855,000 after buying an additional 1,292 shares during the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. increased its position in shares of Block by 19.2% in the 1st quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 301,857 shares of the technology company’s stock valued at $25,531,000 after acquiring an additional 48,646 shares during the period. Finally, Blair William & Co. IL raised its stake in Block by 3.0% in the 1st quarter. Blair William & Co. IL now owns 222,495 shares of the technology company’s stock worth $18,819,000 after acquiring an additional 6,556 shares during the last quarter. 70.44% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several equities analysts have weighed in on the company. BMO Capital Markets cut their price target on Block from $93.00 to $92.00 and set an “outperform” rating for the company in a report on Thursday, October 3rd. New Street Research initiated coverage on shares of Block in a report on Monday, September 9th. They issued a “neutral” rating and a $70.00 target price for the company. Morgan Stanley decreased their price target on shares of Block from $60.00 to $55.00 and set an “underweight” rating on the stock in a research note on Tuesday, July 30th. Macquarie reissued an “outperform” rating and issued a $100.00 price objective on shares of Block in a research note on Friday, July 26th. Finally, Keefe, Bruyette & Woods increased their price target on shares of Block from $71.00 to $80.00 and gave the company a “market perform” rating in a report on Friday, November 8th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and twenty-four have given a buy rating to the stock. According to MarketBeat, Block currently has a consensus rating of “Moderate Buy” and a consensus target price of $91.30.

Check Out Our Latest Stock Report on Block

Block Company Profile

(Get Free Report)

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.

Featured Stories