Block, Inc. (NYSE:SQ – Get Free Report) insider Brian Grassadonia sold 1,884 shares of the business’s stock in a transaction on Wednesday, October 2nd. The stock was sold at an average price of $65.41, for a total value of $123,232.44. Following the sale, the insider now directly owns 574,914 shares in the company, valued at $37,605,124.74. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website.
Brian Grassadonia also recently made the following trade(s):
- On Wednesday, August 21st, Brian Grassadonia sold 8,328 shares of Block stock. The stock was sold at an average price of $64.77, for a total value of $539,404.56.
Block Stock Performance
Shares of SQ traded up $1.38 during trading hours on Friday, reaching $67.02. 4,550,759 shares of the company traded hands, compared to its average volume of 8,228,191. Block, Inc. has a 1-year low of $38.85 and a 1-year high of $87.52. The stock has a market cap of $41.26 billion, a P/E ratio of 87.04, a price-to-earnings-growth ratio of 1.17 and a beta of 2.49. The stock’s fifty day moving average is $63.99 and its 200 day moving average is $68.21. The company has a debt-to-equity ratio of 0.26, a quick ratio of 1.82 and a current ratio of 1.82.
Institutional Investors Weigh In On Block
Institutional investors have recently bought and sold shares of the business. Baillie Gifford & Co. grew its stake in shares of Block by 45.7% in the 2nd quarter. Baillie Gifford & Co. now owns 10,085,229 shares of the technology company’s stock valued at $650,396,000 after purchasing an additional 3,163,975 shares during the period. Lone Pine Capital LLC raised its stake in Block by 70.0% during the fourth quarter. Lone Pine Capital LLC now owns 6,606,269 shares of the technology company’s stock worth $510,995,000 after acquiring an additional 2,720,123 shares in the last quarter. Vanguard Group Inc. lifted its holdings in shares of Block by 3.7% during the fourth quarter. Vanguard Group Inc. now owns 36,192,701 shares of the technology company’s stock valued at $2,799,505,000 after acquiring an additional 1,277,043 shares during the period. Gladstone Capital Management LLP lifted its holdings in shares of Block by 244.1% during the fourth quarter. Gladstone Capital Management LLP now owns 1,706,691 shares of the technology company’s stock valued at $132,013,000 after acquiring an additional 1,210,758 shares during the period. Finally, D1 Capital Partners L.P. boosted its stake in shares of Block by 76.7% in the 2nd quarter. D1 Capital Partners L.P. now owns 1,831,342 shares of the technology company’s stock valued at $118,103,000 after purchasing an additional 795,000 shares in the last quarter. Institutional investors and hedge funds own 70.44% of the company’s stock.
Analysts Set New Price Targets
Several research analysts have recently weighed in on SQ shares. Macquarie reissued an “outperform” rating and issued a $100.00 target price on shares of Block in a research report on Friday, July 26th. Morgan Stanley lowered their price objective on shares of Block from $60.00 to $55.00 and set an “underweight” rating on the stock in a research report on Tuesday, July 30th. Deutsche Bank Aktiengesellschaft increased their target price on Block from $90.00 to $98.00 and gave the company a “buy” rating in a report on Friday, July 12th. UBS Group lowered their price target on Block from $100.00 to $92.00 and set a “buy” rating on the stock in a report on Tuesday, August 27th. Finally, Royal Bank of Canada reissued an “outperform” rating and issued a $88.00 price objective on shares of Block in a research note on Friday, August 2nd. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating, twenty-four have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, Block currently has a consensus rating of “Moderate Buy” and an average target price of $87.31.
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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