Block (NYSE:SQ) Given New $100.00 Price Target at Keefe, Bruyette & Woods

Block (NYSE:SQ) had its price objective decreased by Keefe, Bruyette & Woods from $105.00 to $100.00 in a research report sent to investors on Monday morning,Benzinga reports. Keefe, Bruyette & Woods currently has a market perform rating on the technology company’s stock.

Several other equities analysts have also commented on the company. Raymond James upgraded Block from a “market perform” rating to an “outperform” rating and set a $115.00 price target on the stock in a research note on Friday. Monness Crespi & Hardt upgraded shares of Block from a “neutral” rating to a “buy” rating and set a $115.00 price target for the company in a report on Friday, December 13th. BMO Capital Markets downgraded shares of Block from an “outperform” rating to a “market perform” rating and increased their price objective for the company from $94.00 to $100.00 in a research note on Monday, November 25th. Oppenheimer raised shares of Block from a “market perform” rating to an “outperform” rating and set a $115.00 price objective for the company in a research note on Thursday, December 19th. Finally, Canaccord Genuity Group lifted their price target on Block from $95.00 to $120.00 and gave the company a “buy” rating in a report on Tuesday, November 12th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and twenty-seven have issued a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $96.77.

Block Stock Down 0.2 %

Shares of NYSE:SQ opened at $92.01 on Monday. The business’s 50 day moving average is $87.20 and its 200 day moving average is $73.27. The stock has a market cap of $57.03 billion, a P/E ratio of 51.69, a price-to-earnings-growth ratio of 1.23 and a beta of 2.51. Block has a 52-week low of $55.00 and a 52-week high of $99.26. The company has a quick ratio of 2.07, a current ratio of 2.07 and a debt-to-equity ratio of 0.26.

Insider Transactions at Block

In related news, insider Chrysty Esperanza sold 2,964 shares of Block stock in a transaction dated 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 transaction, the insider now owns 88,607 shares in the company, valued at $7,088,560. The trade was a 3.24 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Amrita Ahuja sold 1,502 shares of the stock in a transaction that occurred on Thursday, January 2nd. The stock was sold at an average price of $86.52, for a total value of $129,953.04. Following the transaction, the chief financial officer now owns 242,199 shares in the company, valued at $20,955,057.48. This represents a 0.62 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 29,981 shares of company stock worth $2,681,185 over the last quarter. 10.49% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Block

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. SouthState Corp raised its stake in Block by 85.3% in the 3rd quarter. SouthState Corp now owns 391 shares of the technology company’s stock valued at $26,000 after purchasing an additional 180 shares during the last quarter. True Wealth Design LLC raised its position 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 valued at $33,000 after buying an additional 194 shares during the last quarter. Versant Capital Management Inc lifted 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 buying an additional 159 shares in the last quarter. V Square Quantitative Management LLC acquired a new position in Block during the third quarter worth about $46,000. Finally, Asset Dedication LLC grew its stake in Block by 392.7% during the 2nd quarter. Asset Dedication LLC now owns 877 shares of the technology company’s stock valued at $57,000 after acquiring an additional 699 shares in the last quarter. Hedge funds and other 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.