Block (NYSE:SQ) Price Target Lowered to $100.00 at Keefe, Bruyette & Woods

Block (NYSE:SQ) had its price target dropped by research analysts at Keefe, Bruyette & Woods from $105.00 to $100.00 in a research report issued on Monday,Benzinga reports. The brokerage currently has a “market perform” rating on the technology company’s stock. Keefe, Bruyette & Woods’ price objective indicates a potential upside of 7.50% from the stock’s previous close.

Other equities analysts have also issued research reports about the company. Sanford C. Bernstein lifted their target price on Block from $90.00 to $120.00 and gave the company an “outperform” rating in a research note on Monday, December 2nd. William Blair reaffirmed an “outperform” rating on shares of Block in a research report on Friday, November 15th. New Street Research assumed coverage on shares of Block in a research report on Monday, September 9th. They set a “neutral” rating and a $70.00 target price for the company. Macquarie lifted their price target on shares of Block from $100.00 to $110.00 and gave the stock an “outperform” rating in a report on Tuesday, December 10th. Finally, Oppenheimer upgraded Block from a “market perform” rating to an “outperform” rating and set a $115.00 price objective for the company in a report on Thursday, December 19th. One analyst has rated the stock with a sell rating, five have given a hold rating and twenty-seven have issued a buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $96.77.

Block Trading Up 0.9 %

SQ stock traded up $0.86 during midday trading on Monday, reaching $93.02. The company’s stock had a trading volume of 1,805,632 shares, compared to its average volume of 5,913,046. The firm has a market capitalization of $57.66 billion, a price-to-earnings ratio of 52.26, a PEG ratio of 1.23 and a beta of 2.51. Block has a 1 year low of $55.00 and a 1 year high of $99.26. The stock has a fifty day simple moving average of $87.20 and a two-hundred day simple moving average of $73.27. The company has a debt-to-equity ratio of 0.26, a quick ratio of 2.07 and a current ratio of 2.07.

Insider Transactions at Block

In related news, insider Chrysty Esperanza sold 2,865 shares of the stock in a transaction that occurred on Monday, December 2nd. The shares were sold at an average price of $95.00, for a total transaction of $272,175.00. Following the completion of the transaction, the insider now owns 85,235 shares of the company’s stock, valued at approximately $8,097,325. This trade represents a 3.25 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Brian Grassadonia sold 8,328 shares of the business’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 value of $759,347.04. Following the completion of the sale, the insider now directly owns 563,894 shares in the company, valued at approximately $51,415,854.92. The trade was a 1.46 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 23,599 shares of company stock worth $2,120,494. 10.49% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Block

A number of hedge funds and other institutional investors have recently bought and sold shares of SQ. Yoder Wealth Management Inc. lifted its position in shares of 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 purchasing an additional 145 shares in the last quarter. Nations Financial Group Inc. IA ADV increased its stake in Block by 1.9% during the 3rd 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 during the period. Moser Wealth Advisors LLC boosted its position in Block by 2.5% in the 3rd quarter. Moser Wealth Advisors LLC now owns 6,265 shares of the technology company’s stock valued at $421,000 after buying an additional 153 shares during the period. Lindbrook Capital LLC boosted its position in Block by 6.3% in the 3rd quarter. Lindbrook Capital LLC now owns 2,592 shares of the technology company’s stock valued at $174,000 after buying an additional 154 shares during the period. Finally, Larson Financial Group LLC increased its position in shares of Block by 14.8% during the third quarter. Larson Financial Group LLC now owns 1,192 shares of the technology company’s stock worth $80,000 after acquiring an additional 154 shares during the period. 70.44% of the stock is currently owned by hedge funds and other 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.