Block (NYSE:SQ – Get Rating) had its price objective cut by Needham & Company LLC from $95.00 to $80.00 in a research report report published on Friday morning, The Fly reports. They currently have a buy rating on the technology company’s stock.
Several other equities analysts have also recently commented on the stock. Barclays upped their target price on shares of Block from $100.00 to $103.00 and gave the company an overweight rating in a research note on Monday, January 23rd. Atlantic Securities lowered shares of Block from an overweight rating to a neutral rating and reduced their target price for the company from $95.00 to $70.00 in a research note on Friday, March 24th. Robert W. Baird increased their price target on shares of Block from $85.00 to $92.00 and gave the company an outperform rating in a research report on Friday, February 24th. Keefe, Bruyette & Woods downgraded shares of Block from an outperform rating to a market perform rating and cut their price target for the company from $90.00 to $75.00 in a research report on Sunday, April 9th. Finally, Wedbush upgraded shares of Block from a neutral rating to an outperform rating and set a $114.00 target price on the stock in a report on Friday, March 24th. Three investment analysts have rated the stock with a sell rating, six have assigned a hold rating and twenty-two have assigned a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of Moderate Buy and an average target price of $99.12.
Block Stock Performance
SQ stock opened at $59.25 on Friday. Block has a 52-week low of $51.34 and a 52-week high of $98.68. The company’s 50 day simple moving average is $68.00 and its 200-day simple moving average is $68.36. The company has a debt-to-equity ratio of 0.24, a quick ratio of 1.85 and a current ratio of 1.85.
Insider Activity at Block
In other Block news, insider Alyssa Henry sold 30,769 shares of the business’s stock in a transaction dated Wednesday, May 3rd. The stock was sold at an average price of $58.10, for a total transaction of $1,787,678.90. Following the completion of the transaction, the insider now owns 488,278 shares of the company’s stock, valued at $28,368,951.80. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other Block news, insider Alyssa Henry sold 30,769 shares of the business’s stock in a transaction dated Wednesday, May 3rd. The stock was sold at an average price of $58.10, for a total transaction of $1,787,678.90. Following the completion of the transaction, the insider now owns 488,278 shares of the company’s stock, valued at $28,368,951.80. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CFO Amrita Ahuja sold 4,046 shares of the business’s stock in a transaction dated Monday, April 3rd. The stock was sold at an average price of $67.00, for a total value of $271,082.00. Following the transaction, the chief financial officer now directly owns 241,460 shares of the company’s stock, valued at approximately $16,177,820. The disclosure for this sale can be found here. Insiders sold a total of 348,899 shares of company stock valued at $24,196,227 over the last quarter. 11.52% of the stock is owned by corporate insiders.
Institutional Trading of Block
Hedge funds and other institutional investors have recently made changes to their positions in the company. IAG Wealth Partners LLC grew its holdings in shares of Block by 100.0% during the first quarter. IAG Wealth Partners LLC now owns 400 shares of the technology company’s stock worth $27,000 after purchasing an additional 200 shares during the last quarter. Oxler Private Wealth LLC grew its holdings in shares of Block by 95.7% during the third quarter. Oxler Private Wealth LLC now owns 460 shares of the technology company’s stock worth $25,000 after purchasing an additional 225 shares during the last quarter. GPS Wealth Strategies Group LLC bought a new stake in shares of Block during the first quarter worth about $32,000. Ronald Blue Trust Inc. grew its holdings in shares of Block by 72.5% during the fourth quarter. Ronald Blue Trust Inc. now owns 476 shares of the technology company’s stock worth $26,000 after purchasing an additional 200 shares during the last quarter. Finally, Armstrong Advisory Group Inc. bought a new stake in shares of Block during the fourth quarter worth about $34,000. 59.49% 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.
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