Block, Inc. (NYSE:SQ) CAO Ajmere Dale Sells 2,044 Shares

Block, Inc. (NYSE:SQ) CAO Ajmere Dale sold 2,044 shares of the business’s stock in a transaction on Thursday, January 2nd. The shares were sold at an average price of $86.72, for a total transaction of $177,255.68. Following the transaction, the chief accounting officer now owns 83,966 shares in the company, valued at approximately $7,281,531.52. This represents a 2.38 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink.

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

• On Thursday, November 21st, Ajmere Dale sold 1,781 shares of Block stock. The stock was sold at an average price of $91.43, for a total transaction of $162,836.83.
• 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.

Block Trading Down 0.2 %

SQ traded down $0.15 during mid-day trading on Monday, hitting $92.01. The stock had a trading volume of 6,455,905 shares, compared to its average volume of 7,594,174. The stock’s fifty day simple moving average is $87.20 and its 200-day simple moving average is $73.27. The firm has a market capitalization of $57.03 billion, a price-to-earnings ratio of 51.69, a price-to-earnings-growth ratio of 1.23 and a beta of 2.51. Block, Inc. has a 1-year low of $55.00 and a 1-year high of $99.26. The company has a debt-to-equity ratio of 0.26, a current ratio of 2.07 and a quick ratio of 2.07.

Wall Street Analyst Weigh In

Several equities analysts have commented on SQ shares. Keefe, Bruyette & Woods lowered their price target on Block from $105.00 to $100.00 and set a “market perform” rating on the stock in a report on Monday. Piper Sandler reiterated an “overweight” rating and issued a $83.00 target price on shares of Block in a research note on Monday, November 11th. 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 report on Friday, November 8th. The Goldman Sachs Group raised their price target on Block from $87.00 to $102.00 and gave the company a “buy” rating in a research report on Monday, December 2nd. Finally, Sanford C. Bernstein boosted their price objective on Block from $90.00 to $120.00 and gave the stock an “outperform” rating in a research report on Monday, December 2nd. One analyst has rated the stock with a sell rating, five have issued a hold rating and twenty-seven have issued a buy rating to the company’s stock. According to data from MarketBeat, Block has an average rating of “Moderate Buy” and a consensus target price of $96.77.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in SQ. Swiss National Bank raised its position in shares of Block by 0.5% during the third quarter. Swiss National Bank now owns 1,651,886 shares of the technology company’s stock worth $110,891,000 after purchasing an additional 8,200 shares during the period. National Pension Service boosted its holdings in shares of Block by 13.5% in the third quarter. National Pension Service now owns 1,083,113 shares of the technology company’s stock valued at $72,709,000 after buying an additional 128,832 shares during the period. Baillie Gifford & Co. increased its position 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 acquiring an additional 147,873 shares in the last quarter. Nomura Asset Management Co. Ltd. raised its holdings in shares of Block by 6.2% during the third quarter. Nomura Asset Management Co. Ltd. now owns 253,787 shares of the technology company’s stock worth $17,037,000 after acquiring an additional 14,822 shares during the period. Finally, Lone Pine Capital LLC lifted its position in Block by 13.9% in the 2nd 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 in the last quarter. 70.44% of the stock is currently owned by institutional investors.

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.