Block (NYSE:SQ) Lowered to “Neutral” Rating by BNP Paribas

BNP Paribas lowered shares of Block (NYSE:SQ) from an outperform rating to a neutral rating in a research report released on Wednesday, MarketBeat.com reports. The firm currently has $88.00 price target on the technology company’s stock.

SQ has been the topic of several other research reports. Canaccord Genuity Group increased their price objective on shares of Block from $95.00 to $120.00 and gave the stock a “buy” rating in a research note on Tuesday, November 12th. Oppenheimer initiated coverage on shares of Block in a research report on Tuesday, October 1st. They issued a “market perform” rating on the stock. New Street Research assumed coverage on shares of Block in a research report on Monday, September 9th. They set a “neutral” rating and a $70.00 price objective for the company. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $88.00 target price on shares of Block in a report on Monday, October 21st. Finally, Morgan Stanley cut their price target on Block from $60.00 to $55.00 and set an “underweight” rating for the company in a report on Tuesday, July 30th. One investment analyst has rated the stock with a sell rating, six have given a hold rating and twenty-four have issued a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $91.18.

Block Price Performance

Shares of SQ opened at $92.26 on Wednesday. The firm has a market cap of $57.18 billion, a PE ratio of 51.83, a P/E/G ratio of 1.25 and a beta of 2.48. Block has a 1-year low of $55.00 and a 1-year high of $94.12. The company has a current ratio of 2.07, a quick ratio of 2.07 and a debt-to-equity ratio of 0.26. The firm has a fifty day simple moving average of $73.83 and a two-hundred day simple moving average of $68.10.

Insider Activity at Block

In related news, CAO Ajmere Dale sold 1,000 shares of the firm’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 $80,000.00. Following the completion of the sale, the chief accounting officer now directly owns 88,791 shares in the company, valued at $7,103,280. This trade represents a 1.11 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Chrysty Esperanza sold 2,964 shares of the business’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 $237,120.00. Following the transaction, the insider now owns 88,607 shares in the company, valued at $7,088,560. This trade represents a 3.24 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 12,283 shares of company stock valued at $862,773 over the last 90 days. 10.49% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Block

Institutional investors have recently made changes to their positions in the company. Yoder Wealth Management Inc. boosted its holdings in Block by 0.4% during the 3rd quarter. Yoder Wealth Management Inc. now owns 39,688 shares of the technology company’s stock valued at $2,664,000 after acquiring an additional 145 shares during the period. Nations Financial Group Inc. IA ADV lifted its position in shares of Block by 1.9% during the third quarter. Nations Financial Group Inc. IA ADV now owns 7,744 shares of the technology company’s stock worth $520,000 after purchasing an additional 145 shares during the last quarter. Moser Wealth Advisors LLC boosted its stake in shares of Block by 2.5% during the third quarter. Moser Wealth Advisors LLC now owns 6,265 shares of the technology company’s stock valued at $421,000 after purchasing an additional 153 shares during the period. Lindbrook Capital LLC boosted its stake in shares of Block by 6.3% during the third quarter. Lindbrook Capital LLC now owns 2,592 shares of the technology company’s stock valued at $174,000 after purchasing an additional 154 shares during the period. Finally, Larson Financial Group LLC grew its holdings in shares of Block by 14.8% in the third quarter. Larson Financial Group LLC now owns 1,192 shares of the technology company’s stock worth $80,000 after purchasing an additional 154 shares during the last quarter. Institutional investors own 70.44% of the company’s stock.

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.