Block (NYSE:SQ) Price Target Raised to $95.00

Block (NYSE:SQ) had its price objective raised by Wells Fargo & Company from $85.00 to $95.00 in a research note published on Thursday,Benzinga reports. Wells Fargo & Company currently has an overweight rating on the technology company’s stock.

SQ has been the topic of a number of other research reports. Barclays boosted their target price on shares of Block from $100.00 to $112.00 and gave the company an “overweight” rating in a report on Tuesday, December 17th. BMO Capital Markets lowered shares of Block from an “outperform” rating to a “market perform” rating and boosted their price objective for the stock from $94.00 to $100.00 in a research note on Monday, November 25th. Keefe, Bruyette & Woods decreased their target price on shares of Block from $105.00 to $100.00 and set a “market perform” rating for the company in a research note on Monday, January 6th. Macquarie boosted their price target on Block from $100.00 to $110.00 and gave the stock an “outperform” rating in a research report on Tuesday, December 10th. Finally, BNP Paribas lowered Block from an “outperform” rating to a “neutral” rating and set a $88.00 price objective for the company. in a research report on Wednesday, November 20th. One analyst has rated the stock with a sell rating, five have issued a hold rating and twenty-seven have given a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $97.68.

Block Stock Up 0.7 %

Shares of NYSE:SQ opened at $87.00 on Thursday. The company has a debt-to-equity ratio of 0.26, a quick ratio of 2.07 and a current ratio of 2.07. Block has a 52-week low of $55.00 and a 52-week high of $99.26. The firm has a market capitalization of $53.92 billion, a P/E ratio of 48.88, a P/E/G ratio of 0.75 and a beta of 2.51. The stock has a 50 day moving average price of $89.61 and a 200-day moving average price of $74.75.

Insider Buying and Selling at Block

In other news, insider Owen Britton Jennings sold 2,836 shares of Block stock in a transaction on Thursday, January 2nd. The shares were sold at an average price of $89.38, for a total transaction of $253,481.68. Following the transaction, the insider now owns 195,449 shares in the company, valued at $17,469,231.62. This trade represents a 1.43 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Chrysty Esperanza sold 2,964 shares of the company’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 $237,120.00. Following the completion of the sale, the insider now owns 88,607 shares of the company’s stock, valued at $7,088,560. This trade represents a 3.24 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 29,981 shares of company stock worth $2,681,185 in the last three months. 10.49% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in SQ. SouthState Corp increased its holdings in Block by 85.3% in the 3rd quarter. SouthState Corp now owns 391 shares of the technology company’s stock worth $26,000 after acquiring an additional 180 shares in the last quarter. True Wealth Design LLC increased its stake in shares of Block by 64.7% in the third quarter. True Wealth Design LLC now owns 494 shares of the technology company’s stock worth $33,000 after purchasing an additional 194 shares in the last quarter. Versant Capital Management Inc increased its stake in shares of Block by 67.7% in the fourth quarter. Versant Capital Management Inc now owns 394 shares of the technology company’s stock worth $33,000 after purchasing an additional 159 shares in the last quarter. MassMutual Private Wealth & Trust FSB raised its position in shares of Block by 48.2% during the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 418 shares of the technology company’s stock valued at $36,000 after purchasing an additional 136 shares during the period. Finally, V Square Quantitative Management LLC purchased a new position in shares of Block during the 3rd quarter valued at $46,000. 70.44% of the stock is owned by hedge funds and other 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.