Wells Fargo & Company Issues Positive Forecast for Block (NYSE:SQ) Stock Price

Block (NYSE:SQ) had its price objective hoisted by investment analysts at Wells Fargo & Company from $85.00 to $95.00 in a report released on Thursday,Benzinga reports. The firm currently has an “overweight” rating on the technology company’s stock. Wells Fargo & Company‘s price target indicates a potential upside of 11.16% from the company’s current price.

Other analysts have also issued research reports about the company. William Blair reaffirmed an “outperform” rating on shares of Block in a research report on Friday, November 15th. BNP Paribas lowered Block from an “outperform” rating to a “neutral” rating and set a $88.00 target price on the stock. in a report on Wednesday, November 20th. Monness Crespi & Hardt raised Block from a “neutral” rating to a “buy” rating and set a $115.00 price objective on the stock in a report on Friday, December 13th. Piper Sandler reaffirmed an “overweight” rating and set a $83.00 price objective on shares of Block in a report on Monday, November 11th. Finally, Needham & Company LLC raised their price objective on Block from $80.00 to $90.00 and gave the stock a “buy” rating in a report on Friday, November 8th. One analyst has rated the stock with a sell rating, five have given a hold rating and twenty-seven have assigned a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $97.68.

Block Stock Up 0.8 %

Shares of Block stock traded up $0.67 during trading hours on Thursday, reaching $85.46. 545,804 shares of the company were exchanged, compared to its average volume of 6,251,939. Block has a 1 year low of $55.00 and a 1 year high of $99.26. The stock’s fifty day moving average is $88.99 and its 200 day moving average is $74.36. 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 firm has a market cap of $52.68 billion, a PE ratio of 48.01, a PEG ratio of 0.75 and a beta of 2.51.

Insider Buying and Selling

In related news, CAO Ajmere Dale sold 1,000 shares of the firm’s stock in a transaction that occurred on Monday, November 11th. The shares were sold at an average price of $80.00, for a total transaction of $80,000.00. Following the transaction, the chief accounting officer now 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 Securities & Exchange Commission, which is available through the SEC website. Also, insider Brian Grassadonia sold 8,328 shares of the firm’s stock in a transaction that occurred on Thursday, November 21st. The shares were sold at an average price of $91.18, for a total transaction of $759,347.04. Following the transaction, the insider now owns 563,894 shares in the company, valued at $51,415,854.92. This represents a 1.46 % 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 over the last quarter. 10.49% of the stock is owned by company insiders.

Institutional Trading of Block

A number of large investors have recently added to or reduced their stakes in the business. Yoder Wealth Management Inc. boosted its holdings in Block by 0.4% during the third quarter. Yoder Wealth Management Inc. now owns 39,688 shares of the technology company’s stock worth $2,664,000 after buying an additional 145 shares in the last quarter. Nations Financial Group Inc. IA ADV boosted its holdings in Block by 1.9% during the third quarter. Nations Financial Group Inc. IA ADV now owns 7,744 shares of the technology company’s stock worth $520,000 after buying an additional 145 shares in the last quarter. Wealth Enhancement Advisory Services LLC boosted its holdings in Block by 0.5% during the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 26,864 shares of the technology company’s stock worth $2,283,000 after buying an additional 145 shares in the last quarter. Rosenberg Matthew Hamilton boosted its holdings in Block by 18.3% during the fourth quarter. Rosenberg Matthew Hamilton now owns 982 shares of the technology company’s stock worth $83,000 after buying an additional 152 shares in the last quarter. Finally, Moser Wealth Advisors LLC boosted its stake in Block by 2.5% in the 3rd quarter. Moser Wealth Advisors LLC now owns 6,265 shares of the technology company’s stock worth $421,000 after purchasing an additional 153 shares during the period. 70.44% of the stock is currently owned by institutional investors.

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.