Block’s (SQ) Overweight Rating Reiterated at Piper Sandler

Piper Sandler reissued their overweight rating on shares of Block (NYSE:SQ) in a research report sent to investors on Monday, Marketbeat Ratings reports. They currently have a $83.00 price target on the technology company’s stock.

Several other analysts have also issued reports on the company. Royal Bank of Canada reissued an “outperform” rating and set a $88.00 price target on shares of Block in a report on Monday, October 21st. Keefe, Bruyette & Woods boosted their price objective on Block from $71.00 to $80.00 and gave the company a “market perform” rating in a research note on Friday, November 8th. BMO Capital Markets decreased their target price on shares of Block from $93.00 to $92.00 and set an “outperform” rating on the stock in a research note on Thursday, October 3rd. Macquarie reiterated an “outperform” rating and issued a $100.00 price target on shares of Block in a research report on Friday, July 26th. Finally, William Blair upgraded shares of Block to a “strong-buy” rating in a research report on Wednesday, July 31st. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating, twenty-three have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, Block has an average rating of “Moderate Buy” and a consensus price target of $91.30.

Block Trading Down 1.6 %

Shares of Block stock opened at $85.82 on Monday. Block has a 1-year low of $53.82 and a 1-year high of $90.00. The company’s fifty day simple moving average is $69.67 and its 200-day simple moving average is $67.09. 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 has a market capitalization of $52.84 billion, a PE ratio of 48.21, a P/E/G ratio of 1.18 and a beta of 2.48.

Insider Transactions at Block

In related news, CAO Ajmere Dale sold 1,000 shares of Block stock in a transaction dated Monday, November 11th. The stock was 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 owns 88,791 shares in the company, valued at approximately $7,103,280. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other news, insider Brian Grassadonia sold 8,328 shares of the firm’s stock in a transaction dated Wednesday, August 21st. The shares were sold at an average price of $64.77, for a total value of $539,404.56. Following the completion of the sale, the insider now owns 580,086 shares in the company, valued at approximately $37,572,170.22. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CAO Ajmere Dale sold 1,000 shares of Block stock in a transaction dated Monday, November 11th. The stock was sold at an average price of $80.00, for a total transaction of $80,000.00. Following the transaction, the chief accounting officer now directly owns 88,791 shares of the company’s stock, valued at approximately $7,103,280. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 28,678 shares of company stock worth $1,924,112 in the last three months. Insiders own 10.49% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the business. Caz Investments LP lifted its position in shares of Block by 100.0% during the third quarter. Caz Investments LP now owns 3,000 shares of the technology company’s stock worth $198,000 after purchasing an additional 1,500 shares during the last quarter. Bridgewater Associates LP lifted its holdings in Block by 2,156.0% during the 3rd quarter. Bridgewater Associates LP now owns 395,697 shares of the technology company’s stock valued at $26,563,000 after buying an additional 378,157 shares in the last quarter. Townsquare Capital LLC boosted its position in Block by 192.5% in the 3rd quarter. Townsquare Capital LLC now owns 58,873 shares of the technology company’s stock valued at $3,952,000 after buying an additional 38,748 shares during the period. J. Stern & Co. LLP grew its stake in Block by 103.4% in the 3rd quarter. J. Stern & Co. LLP now owns 33,447 shares of the technology company’s stock worth $2,245,000 after acquiring an additional 17,002 shares in the last quarter. Finally, Brooklyn Investment Group purchased a new position in shares of Block during the third quarter worth approximately $151,000. Hedge funds and other institutional investors own 70.44% of the company’s stock.

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.