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

Block, Inc. (NYSE:SQ) CAO Ajmere Dale sold 2,044 shares of the company’s stock in a transaction dated Thursday, January 2nd. The stock was sold at an average price of $86.72, for a total value of $177,255.68. Following the completion of the sale, the chief accounting officer now directly owns 83,966 shares of the company’s stock, valued at $7,281,531.52. The trade was a 2.38 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at 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 shares were 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 shares were sold at an average price of $80.00, for a total transaction of $80,000.00.

Block Stock Down 0.2 %

Shares of NYSE:SQ opened at $92.01 on Tuesday. The firm has a 50 day simple moving average of $87.55 and a 200 day simple moving average of $73.48. Block, Inc. has a 52 week low of $55.00 and a 52 week high of $99.26. The company has a debt-to-equity ratio of 0.26, a quick ratio of 2.07 and a current ratio of 2.07. The company has a market cap of $57.03 billion, a PE ratio of 51.69, a price-to-earnings-growth ratio of 1.23 and a beta of 2.51.

Analyst Ratings Changes

SQ has been the topic of a number of recent analyst reports. BNP Paribas lowered shares of Block from an “outperform” rating to a “neutral” rating and set a $88.00 price objective on the stock. in a report on Wednesday, November 20th. Morgan Stanley increased their price target on Block from $60.00 to $65.00 and gave the company an “underweight” rating in a report on Wednesday, December 18th. The Goldman Sachs Group raised their price objective on Block from $87.00 to $102.00 and gave the company a “buy” rating in a research note on Monday, December 2nd. Monness Crespi & Hardt raised Block from a “neutral” rating to a “buy” rating and set a $115.00 target price on the stock in a research report on Friday, December 13th. Finally, William Blair reissued an “outperform” rating on shares of Block in a research report on Friday, November 15th. One analyst has rated the stock with a sell rating, five have assigned a hold rating and twenty-seven have assigned a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $96.77.

Institutional Trading of Block

A number of hedge funds have recently modified their holdings of the business. Southpoint Capital Advisors LP purchased a new position in shares of Block during the third quarter valued at $114,121,000. Massachusetts Financial Services Co. MA boosted its position in Block by 770.0% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 1,738,708 shares of the technology company’s stock worth $116,719,000 after acquiring an additional 1,538,849 shares during the period. Lone Pine Capital LLC grew its stake in Block by 13.9% during 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. D1 Capital Partners L.P. increased its holdings in shares of Block by 76.7% in the 2nd quarter. D1 Capital Partners L.P. now owns 1,831,342 shares of the technology company’s stock valued at $118,103,000 after purchasing an additional 795,000 shares during the period. Finally, Canada Pension Plan Investment Board lifted its position in shares of Block by 1,061.0% in the second quarter. Canada Pension Plan Investment Board now owns 657,667 shares of the technology company’s stock worth $42,413,000 after purchasing an additional 601,020 shares in the last quarter. Hedge funds and other institutional investors own 70.44% of the company’s stock.

Block Company Profile

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.