Chrysty Esperanza Sells 2,964 Shares of Block, Inc. (NYSE:SQ) Stock

Block, Inc. (NYSE:SQ) insider Chrysty Esperanza sold 2,964 shares of the stock in a transaction dated Monday, November 11th. The stock was sold at an average price of $80.00, for a total transaction of $237,120.00. Following the completion of the transaction, the insider now owns 88,607 shares of the company’s stock, valued at approximately $7,088,560. The trade was a 3.24 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link.

Block Price Performance

Shares of Block stock opened at $83.42 on Friday. The company has a debt-to-equity ratio of 0.26, a current ratio of 2.07 and a quick ratio of 2.07. The firm has a fifty day moving average price of $70.11 and a two-hundred day moving average price of $67.22. Block, Inc. has a fifty-two week low of $55.00 and a fifty-two week high of $90.00. The company has a market cap of $51.36 billion, a PE ratio of 46.87, a price-to-earnings-growth ratio of 1.16 and a beta of 2.48.

Wall Street Analysts Forecast Growth

Several research firms recently commented on SQ. Keefe, Bruyette & Woods lifted their price objective on Block from $71.00 to $80.00 and gave the stock a “market perform” rating in a report on Friday, November 8th. Royal Bank of Canada reiterated an “outperform” rating and set a $88.00 price objective on shares of Block in a research note on Monday, October 21st. Oppenheimer began coverage on Block in a research note on Tuesday, October 1st. They set a “market perform” rating on the stock. Canaccord Genuity Group raised their price objective on Block from $95.00 to $120.00 and gave the company a “buy” rating in a research note on Tuesday. Finally, BMO Capital Markets dropped their price target on shares of Block from $93.00 to $92.00 and set an “outperform” rating for the company in a research note on Thursday, October 3rd. One analyst has rated the stock with a sell rating, five have assigned a hold rating, twenty-three have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, Block presently has an average rating of “Moderate Buy” and an average price target of $91.30.

Institutional Trading of Block

A number of institutional investors and hedge funds have recently modified their holdings of SQ. SouthState Corp grew its stake in shares of 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 period. True Wealth Design LLC boosted its stake in shares of Block by 64.7% in the 3rd quarter. True Wealth Design LLC now owns 494 shares of the technology company’s stock valued at $33,000 after purchasing an additional 194 shares in the last quarter. LRI Investments LLC acquired a new stake in shares of Block during the 1st quarter worth about $34,000. Unique Wealth Strategies LLC acquired a new position in Block in the second quarter valued at about $34,000. Finally, Migdal Insurance & Financial Holdings Ltd. bought a new stake in Block during the second quarter worth about $44,000. 70.44% of the stock is currently owned by institutional investors.

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.