Block (NYSE:SQ) Trading Up 1%

Block, Inc. (NYSE:SQ) traded up 1% during mid-day trading on Tuesday . The stock traded as high as $66.33 and last traded at $66.20. 955,379 shares traded hands during mid-day trading, a decline of 89% from the average session volume of 8,644,276 shares. The stock had previously closed at $65.56.

Analysts Set New Price Targets

A number of brokerages have recently commented on SQ. Canaccord Genuity Group reiterated a “buy” rating and set a $95.00 price target on shares of Block in a report on Friday, May 3rd. Monness Crespi & Hardt reaffirmed a “neutral” rating on shares of Block in a report on Thursday, May 2nd. Needham & Company LLC decreased their price objective on Block from $105.00 to $80.00 and set a “buy” rating on the stock in a research report on Monday, August 5th. Wedbush reaffirmed an “outperform” rating and set a $90.00 target price on shares of Block in a report on Friday, May 3rd. Finally, Benchmark reaffirmed a “buy” rating and issued a $99.00 price target on shares of Block in a research note on Friday, August 2nd. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating, twenty-five have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, Block has a consensus rating of “Moderate Buy” and an average target price of $87.52.

Block Trading Up 1.6 %

The stock has a market cap of $41.12 billion, a P/E ratio of 85.97, a PEG ratio of 1.15 and a beta of 2.52. The company has a quick ratio of 1.82, a current ratio of 1.82 and a debt-to-equity ratio of 0.26. The business’s 50 day simple moving average is $63.98 and its two-hundred day simple moving average is $69.87.

Block (NYSE:SQ) last issued its quarterly earnings data on Thursday, August 1st. The technology company reported $0.93 earnings per share for the quarter, topping analysts’ consensus estimates of $0.84 by $0.09. The business had revenue of $6.16 billion for the quarter, compared to analyst estimates of $6.27 billion. Block had a return on equity of 3.77% and a net margin of 3.47%. Block’s quarterly revenue was up 11.2% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.40 EPS. As a group, analysts expect that Block, Inc. will post 1.72 EPS for the current year.

Insider Transactions at Block

In other Block news, CAO Ajmere Dale sold 471 shares of the stock in a transaction that occurred on Tuesday, July 2nd. The stock was sold at an average price of $64.37, for a total transaction of $30,318.27. Following the transaction, the chief accounting officer now directly owns 92,866 shares in the company, valued at approximately $5,977,784.42. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In related news, Director Roelof Botha purchased 434,405 shares of Block stock in a transaction that occurred on Tuesday, August 6th. The stock was bought at an average price of $57.55 per share, for a total transaction of $25,000,007.75. Following the completion of the transaction, the director now owns 434,405 shares in the company, valued at $25,000,007.75. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CAO Ajmere Dale sold 471 shares of the firm’s stock in a transaction that occurred on Tuesday, July 2nd. The stock was sold at an average price of $64.37, for a total transaction of $30,318.27. Following the completion of the transaction, the chief accounting officer now directly owns 92,866 shares of the company’s stock, valued at $5,977,784.42. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 28,179 shares of company stock worth $1,833,962. Company insiders own 10.49% of the company’s stock.

Institutional Trading of Block

Large investors have recently modified their holdings of the business. International Assets Investment Management LLC purchased a new stake in Block in the fourth quarter worth $112,000,000. GAMMA Investing LLC purchased a new position in Block in the fourth quarter worth about $75,000. Yousif Capital Management LLC increased its stake in shares of Block by 4.2% in the 4th quarter. Yousif Capital Management LLC now owns 6,439 shares of the technology company’s stock worth $498,000 after purchasing an additional 257 shares in the last quarter. Atria Wealth Solutions Inc. increased its holdings in Block by 12.8% in the 4th quarter. Atria Wealth Solutions Inc. now owns 16,720 shares of the technology company’s stock worth $1,293,000 after acquiring an additional 1,897 shares in the last quarter. Finally, Truist Financial Corp increased its stake in shares of Block by 8.1% in the fourth quarter. Truist Financial Corp now owns 145,365 shares of the technology company’s stock worth $11,244,000 after purchasing an additional 10,921 shares in 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.