Block (NYSE:SQ) Coverage Initiated by Analysts at StockNews.com

StockNews.com initiated coverage on shares of Block (NYSE:SQ) in a research report released on Friday morning. The firm issued a hold rating on the technology company’s stock.

A number of other analysts have also issued reports on SQ. Monness Crespi & Hardt raised Block from a “neutral” rating to a “buy” rating and set a $115.00 target price on the stock in a research report on Friday, December 13th. Canaccord Genuity Group lifted their price objective on Block from $95.00 to $120.00 and gave the stock a “buy” rating in a report on Tuesday, November 12th. Macquarie increased their target price on Block from $100.00 to $110.00 and gave the company an “outperform” rating in a research note on Tuesday, December 10th. Sanford C. Bernstein lifted their price target on shares of Block from $90.00 to $120.00 and gave the stock an “outperform” rating in a research note on Monday, December 2nd. Finally, Oppenheimer raised shares of Block from a “market perform” rating to an “outperform” rating and set a $115.00 price target on the stock in a report on Thursday, December 19th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and twenty-six have issued a buy rating to the company’s stock. Based on data from MarketBeat, Block has an average rating of “Moderate Buy” and an average target price of $98.10.

Block Stock Performance

Block has a fifty-two week low of $55.00 and a fifty-two week high of $99.26. The firm has a market cap of $53.90 billion, a price-to-earnings ratio of 48.92, a price-to-earnings-growth ratio of 0.79 and a beta of 2.51. The company has a debt-to-equity ratio of 0.26, a quick ratio of 2.07 and a current ratio of 2.07. The company’s fifty day moving average price is $89.68 and its two-hundred day moving average price is $75.13.

Insider Activity at Block

In other news, CAO Ajmere Dale sold 1,000 shares of the stock in a transaction that occurred on Monday, November 11th. The shares were sold at an average price of $80.00, for a total value of $80,000.00. Following the completion of the transaction, the chief accounting officer now directly owns 88,791 shares in the company, valued at $7,103,280. This trade represents a 1.11 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CFO Amrita Ahuja sold 1,502 shares of the business’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 value of $129,953.04. Following the sale, the chief financial officer now directly owns 242,199 shares in the company, valued at approximately $20,955,057.48. The trade was a 0.62 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 29,981 shares of company stock worth $2,681,185 in the last three months. 10.49% of the stock is owned by company insiders.

Hedge Funds Weigh In On Block

Several hedge funds have recently modified their holdings of the company. SouthState Corp boosted its stake in shares of Block by 85.3% during the 3rd quarter. SouthState Corp now owns 391 shares of the technology company’s stock worth $26,000 after acquiring an additional 180 shares in the last quarter. True Wealth Design LLC grew its holdings in shares of Block by 64.7% during the third quarter. True Wealth Design LLC now owns 494 shares of the technology company’s stock valued at $33,000 after buying an additional 194 shares in the last quarter. Versant Capital Management Inc raised its position in Block by 67.7% during the fourth quarter. Versant Capital Management Inc now owns 394 shares of the technology company’s stock valued at $33,000 after buying an additional 159 shares during the period. MassMutual Private Wealth & Trust FSB boosted its position in Block by 48.2% during the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 418 shares of the technology company’s stock worth $36,000 after acquiring an additional 136 shares during the period. Finally, V Square Quantitative Management LLC purchased a new position in Block during the 3rd quarter valued at about $46,000. 70.44% of the stock is currently owned by institutional investors and hedge funds.

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.