StockNews.com Begins Coverage on Block (NYSE:SQ)

StockNews.com started coverage on shares of Block (NYSE:SQ) in a research report issued on Saturday. The brokerage set a “hold” rating on the technology company’s stock.

Several other research analysts have also issued reports on the stock. Keefe, Bruyette & Woods cut their target price on shares of Block from $105.00 to $100.00 and set a “market perform” rating on the stock in a research note on Monday, January 6th. Royal Bank of Canada reissued an “outperform” rating and set a $88.00 target price on shares of Block in a research note on Monday, October 21st. BNP Paribas lowered shares of Block from an “outperform” rating to a “neutral” rating and set a $88.00 target price on the stock. in a research note on Wednesday, November 20th. BMO Capital Markets lowered shares of Block from an “outperform” rating to a “market perform” rating and increased their target price for the stock from $94.00 to $100.00 in a research note on Monday, November 25th. Finally, Needham & Company LLC raised their price objective on shares of Block from $80.00 to $90.00 and gave the company a “buy” rating in a research note on Friday, November 8th. One investment analyst has rated the stock with a sell rating, six have given a hold rating and twenty-six have given a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $98.10.

Block Price Performance

The company has a market capitalization of $53.90 billion, a price-to-earnings ratio of 48.92, a PEG ratio of 0.79 and a beta of 2.51. Block has a 12 month low of $55.00 and a 12 month high of $99.26. The business’s 50-day moving average is $89.68 and its two-hundred day moving average is $75.13. 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, CFO Amrita Ahuja sold 1,502 shares of the business’s stock in a transaction that occurred on Thursday, January 2nd. The shares were sold at an average price of $86.52, for a total transaction of $129,953.04. Following the completion of the transaction, the chief financial officer now owns 242,199 shares of the company’s stock, valued at approximately $20,955,057.48. The trade was a 0.62 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Chrysty Esperanza sold 2,865 shares of the business’s 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 transaction, the insider now directly owns 85,235 shares of the company’s stock, valued at approximately $8,097,325. This represents a 3.25 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 26,017 shares of company stock worth $2,364,065 over the last quarter. Corporate insiders own 10.49% of the company’s stock.

Hedge Funds Weigh In On Block

Several hedge funds have recently bought and sold shares of the company. Key Client Fiduciary Advisors LLC grew its stake in Block by 1.4% during the fourth quarter. Key Client Fiduciary Advisors LLC now owns 8,340 shares of the technology company’s stock valued at $709,000 after acquiring an additional 115 shares in the last quarter. MassMutual Private Wealth & Trust FSB grew its stake in Block by 48.2% during the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 418 shares of the technology company’s stock valued at $36,000 after acquiring an additional 136 shares in the last quarter. Yoder Wealth Management Inc. grew its stake in Block by 0.4% during the third quarter. Yoder Wealth Management Inc. now owns 39,688 shares of the technology company’s stock valued at $2,664,000 after acquiring an additional 145 shares in the last quarter. Nations Financial Group Inc. IA ADV grew its stake 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 valued at $520,000 after acquiring an additional 145 shares in the last quarter. Finally, Wealth Enhancement Advisory Services LLC grew its stake 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 valued at $2,283,000 after acquiring an additional 145 shares in the last quarter. Hedge funds and other institutional investors own 70.44% of the company’s stock.

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.