Block, Inc. (NYSE:SQ) CFO Sells $129,953.04 in Stock

Block, Inc. (NYSE:SQ) CFO Amrita Ahuja sold 1,502 shares of the firm’s stock in a transaction that occurred on Thursday, January 2nd. The stock was sold at an average price of $86.52, for a total transaction of $129,953.04. Following the sale, the chief financial officer now owns 242,199 shares of the company’s stock, valued at approximately $20,955,057.48. This represents a 0.62 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link.

Amrita Ahuja also recently made the following trade(s):

• On Thursday, November 21st, Amrita Ahuja sold 6,661 shares of Block stock. The stock was sold at an average price of $91.43, for a total transaction of $609,015.23.

Block Price Performance

Shares of SQ stock traded down $0.15 during trading hours on Monday, reaching $92.01. 6,455,905 shares of the company were exchanged, compared to its average volume of 7,594,174. Block, Inc. has a fifty-two week low of $55.00 and a fifty-two week high of $99.26. 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 stock’s fifty day moving average is $87.20 and its two-hundred day moving average is $73.27. The company has a market cap of $57.03 billion, a price-to-earnings ratio of 51.69, a P/E/G ratio of 1.23 and a beta of 2.51.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the company. Swiss National Bank raised its holdings in Block by 0.5% during the 3rd quarter. Swiss National Bank now owns 1,651,886 shares of the technology company’s stock worth $110,891,000 after purchasing an additional 8,200 shares during the last quarter. National Pension Service raised its position in shares of Block by 13.5% during the 3rd quarter. National Pension Service now owns 1,083,113 shares of the technology company’s stock valued at $72,709,000 after acquiring an additional 128,832 shares during the last quarter. Baillie Gifford & Co. lifted its stake in shares of Block by 1.5% in the 3rd quarter. Baillie Gifford & Co. now owns 10,233,102 shares of the technology company’s stock valued at $686,948,000 after purchasing an additional 147,873 shares during the period. Nomura Asset Management Co. Ltd. lifted its stake in shares of Block by 6.2% in the 3rd quarter. Nomura Asset Management Co. Ltd. now owns 253,787 shares of the technology company’s stock valued at $17,037,000 after purchasing an additional 14,822 shares during the period. Finally, Lone Pine Capital LLC boosted its position in shares of Block by 13.9% in the 2nd quarter. Lone Pine Capital LLC now owns 7,670,523 shares of the technology company’s stock worth $494,672,000 after purchasing an additional 934,588 shares during the last quarter. 70.44% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several analysts have commented on SQ shares. BNP Paribas downgraded shares of Block from an “outperform” rating to a “neutral” rating and set a $88.00 target price for the company. in a research report on Wednesday, November 20th. Piper Sandler reissued an “overweight” rating and set a $83.00 target price on shares of Block in a research report on Monday, November 11th. Barclays upped their price target on Block from $100.00 to $112.00 and gave the stock an “overweight” rating in a research note on Tuesday, December 17th. Raymond James raised Block from a “market perform” rating to an “outperform” rating and set a $115.00 price objective on the stock in a research note on Friday. Finally, Oppenheimer raised Block from a “market perform” rating to an “outperform” rating and set a $115.00 target price for the company in a research report on Thursday, December 19th. One analyst has rated the stock with a sell rating, five have assigned a hold rating and twenty-seven have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $96.77.

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.