Block, Inc. (NYSE:SQ) Insider Brian Grassadonia Sells 1,889 Shares of Stock

Block, Inc. (NYSE:SQ) insider Brian Grassadonia sold 1,889 shares of the firm’s stock in a transaction dated Tuesday, July 2nd. The stock was sold at an average price of $64.37, for a total transaction of $121,594.93. Following the completion of the sale, the insider now owns 590,761 shares of the company’s stock, valued at approximately $38,027,285.57. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink.

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

• On Tuesday, May 21st, Brian Grassadonia sold 5,155 shares of Block stock. The stock was sold at an average price of $71.26, for a total transaction of $367,345.30.
• On Wednesday, May 1st, Brian Grassadonia sold 113,668 shares of Block stock. The shares were sold at an average price of $67.56, for a total value of $7,679,410.08.

Block Stock Performance

Shares of SQ opened at $65.78 on Friday. Block, Inc. has a 12 month low of $38.85 and a 12 month high of $87.52. The stock has a fifty day moving average price of $66.83 and a 200-day moving average price of $71.28. The company has a current ratio of 1.64, a quick ratio of 1.64 and a debt-to-equity ratio of 0.16. The firm has a market cap of $40.59 billion, a PE ratio of 85.43, a P/E/G ratio of 1.51 and a beta of 2.52.

Block (NYSE:SQ) last released its quarterly earnings results on Thursday, May 2nd. The technology company reported $0.47 EPS for the quarter, beating analysts’ consensus estimates of $0.15 by $0.32. Block had a return on equity of 2.04% and a net margin of 2.18%. The company had revenue of $5.96 billion during the quarter, compared to analysts’ expectations of $5.75 billion. Equities research analysts predict that Block, Inc. will post 1.28 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

SQ has been the subject of a number of research analyst reports. Monness Crespi & Hardt reissued a “neutral” rating on shares of Block in a research note on Thursday, May 2nd. KeyCorp lifted their target price on Block from $80.00 to $95.00 and gave the stock an “overweight” rating in a research report on Wednesday, March 27th. Mizuho upped their price target on shares of Block from $99.00 to $106.00 and gave the stock a “buy” rating in a report on Wednesday, April 10th. Wolfe Research raised their price target on shares of Block from $95.00 to $100.00 and gave the stock an “outperform” rating in a research note on Thursday, April 11th. Finally, Evercore ISI reissued an “in-line” rating and issued a $75.00 price objective on shares of Block in a research report on Tuesday, March 26th. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and twenty-seven have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $87.13.

Institutional Trading of Block

A number of institutional investors have recently bought and sold shares of SQ. Vanguard Group Inc. lifted its position in Block by 0.9% during the 1st quarter. Vanguard Group Inc. now owns 36,511,250 shares of the technology company’s stock worth $3,088,122,000 after acquiring an additional 318,549 shares during the period. Capital World Investors increased its holdings in Block by 4.7% in the 1st quarter. Capital World Investors now owns 13,096,614 shares of the technology company’s stock worth $1,107,712,000 after buying an additional 582,826 shares during the period. ARK Investment Management LLC raised its position in Block by 9.2% during the 4th quarter. ARK Investment Management LLC now owns 11,887,628 shares of the technology company’s stock worth $919,508,000 after buying an additional 1,000,514 shares during the last quarter. Sumitomo Mitsui Trust Holdings Inc. lifted its stake in Block by 0.7% during the 4th quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 10,377,973 shares of the technology company’s stock valued at $802,736,000 after acquiring an additional 75,161 shares during the period. Finally, Nikko Asset Management Americas Inc. boosted its holdings in shares of Block by 0.8% in the 4th quarter. Nikko Asset Management Americas Inc. now owns 8,982,862 shares of the technology company’s stock valued at $694,735,000 after acquiring an additional 71,735 shares during the last quarter. 70.44% of the stock is currently owned by institutional investors and hedge funds.

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.