Brian Grassadonia Sells 111,666 Shares of Block, Inc. (NYSE:SQ) Stock

Block, Inc. (NYSE:SQGet Free Report) insider Brian Grassadonia sold 111,666 shares of Block stock in a transaction dated Monday, April 1st. The stock was sold at an average price of $82.73, for a total transaction of $9,238,128.18. Following the transaction, the insider now directly owns 485,645 shares of the company’s stock, valued at $40,177,410.85. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website.

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

  • On Wednesday, April 3rd, Brian Grassadonia sold 4,514 shares of Block stock. The stock was sold at an average price of $78.41, for a total transaction of $353,942.74.
  • On Monday, March 4th, Brian Grassadonia sold 111,914 shares of Block stock. The shares were sold at an average price of $78.17, for a total transaction of $8,748,317.38.
  • On Tuesday, February 20th, Brian Grassadonia sold 127,800 shares of Block stock. The shares were sold at an average price of $65.45, for a total transaction of $8,364,510.00.
  • On Thursday, January 4th, Brian Grassadonia sold 5,652 shares of Block stock. The shares were sold at an average price of $68.00, for a total transaction of $384,336.00.

Block Stock Up 0.6 %

NYSE:SQ opened at $79.65 on Thursday. The company has a market cap of $49.04 billion, a PE ratio of 465.94, a P/E/G ratio of 2.34 and a beta of 2.55. Block, Inc. has a twelve month low of $38.85 and a twelve month high of $87.52. The company has a current ratio of 1.90, a quick ratio of 1.90 and a debt-to-equity ratio of 0.22. The company’s 50 day moving average is $74.27 and its two-hundred day moving average is $63.57.

Block (NYSE:SQGet Free Report) last released its quarterly earnings data on Thursday, February 22nd. The technology company reported $0.03 EPS for the quarter, beating the consensus estimate of $0.02 by $0.01. The business had revenue of $5.77 billion for the quarter, compared to the consensus estimate of $5.69 billion. Block had a net margin of 0.04% and a return on equity of 0.63%. Analysts anticipate that Block, Inc. will post 1.03 EPS for the current year.

Institutional Trading of Block

Several large investors have recently made changes to their positions in the business. Vanguard Group Inc. boosted its holdings in shares of Block by 3.7% in the 4th quarter. Vanguard Group Inc. now owns 36,192,701 shares of the technology company’s stock valued at $2,799,505,000 after acquiring an additional 1,277,043 shares during the last quarter. Capital World Investors boosted its holdings in Block by 1.7% during the fourth quarter. Capital World Investors now owns 12,513,788 shares of the technology company’s stock worth $967,942,000 after buying an additional 212,218 shares in the last quarter. ARK Investment Management LLC boosted its holdings in Block by 9.2% during the fourth 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 in the last quarter. Sumitomo Mitsui Trust Holdings Inc. boosted its holdings in Block by 0.7% during the fourth quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 10,377,973 shares of the technology company’s stock worth $802,736,000 after buying an additional 75,161 shares in the last quarter. Finally, Nikko Asset Management Americas Inc. boosted its holdings in Block by 0.8% during the fourth quarter. Nikko Asset Management Americas Inc. now owns 8,982,862 shares of the technology company’s stock worth $694,735,000 after buying an additional 71,735 shares in the last quarter. 70.44% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

SQ has been the subject of a number of research analyst reports. William Blair reiterated a “market perform” rating on shares of Block in a report on Friday, February 23rd. BTIG Research upgraded shares of Block from a “neutral” rating to a “buy” rating and set a $85.00 price objective for the company in a report on Tuesday, January 30th. Royal Bank of Canada lifted their price objective on shares of Block from $77.00 to $88.00 and gave the company an “outperform” rating in a report on Friday, February 23rd. KeyCorp lifted their price objective on shares of Block from $80.00 to $95.00 and gave the company an “overweight” rating in a report on Wednesday, March 27th. Finally, Citigroup boosted their price target on shares of Block from $76.00 to $86.00 and gave the company a “buy” rating in a report on Monday, February 26th. Seven analysts have rated the stock with a hold rating and twenty-six have given a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $83.69.

Read Our Latest Analysis on Block

About Block

(Get Free Report)

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.

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