Insider Selling: Block, Inc. (NYSE:SQ) Insider Sells $123,232.44 in Stock

by · The Cerbat Gem

Block, Inc. (NYSE:SQ – Get Free Report) insider Brian Grassadonia sold 1,884 shares of the company’s stock in a transaction dated Wednesday, October 2nd. The stock was sold at an average price of $65.41, for a total transaction of $123,232.44. Following the completion of the transaction, the insider now owns 574,914 shares in the company, valued at approximately $37,605,124.74. The trade was 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 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 shares were sold at an average price of $64.77, for a total transaction of $539,404.56.

Block Stock Performance

Shares of SQ opened at $67.02 on Monday. The company has a debt-to-equity ratio of 0.26, a quick ratio of 1.82 and a current ratio of 1.82. The stock has a 50-day moving average of $64.13 and a two-hundred day moving average of $67.94. The stock has a market cap of $41.26 billion, a P/E ratio of 87.04, a P/E/G ratio of 0.87 and a beta of 2.49. Block, Inc. has a one year low of $38.85 and a one year high of $87.52.

Block (NYSE:SQ – Get Free Report) last issued its earnings results on Thursday, August 1st. The technology company reported $0.93 EPS for the quarter, beating analysts’ consensus estimates of $0.84 by $0.09. Block had a return on equity of 3.77% and a net margin of 3.47%. The firm had revenue of $6.16 billion for the quarter, compared to analyst estimates of $6.27 billion. During the same quarter in the prior year, the firm earned $0.40 earnings per share. Block’s revenue for the quarter was up 11.2% on a year-over-year basis. As a group, research analysts predict that Block, Inc. will post 1.71 EPS for the current year.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in SQ. Orion Portfolio Solutions LLC raised its stake in shares of Block by 49.0% during the 4th quarter. Orion Portfolio Solutions LLC now owns 7,930 shares of the technology company’s stock valued at $613,000 after buying an additional 2,607 shares during the last quarter. Oppenheimer & Co. Inc. boosted its position in Block by 11.2% in the 4th quarter. Oppenheimer & Co. Inc. now owns 20,854 shares of the technology company’s stock worth $1,613,000 after purchasing an additional 2,101 shares in the last quarter. Cibc World Markets Corp purchased a new stake in Block in the 4th quarter worth approximately $1,184,000. Morningstar Investment Services LLC acquired a new stake in shares of Block during the 4th quarter worth approximately $201,000. Finally, Vinva Investment Management Ltd purchased a new position in shares of Block during the 4th quarter valued at approximately $1,411,000. Hedge funds and other institutional investors own 70.44% of the company’s stock.

Analyst Ratings Changes

Several analysts have recently weighed in on the stock. Macquarie reaffirmed an “outperform” rating and set a $100.00 price target on shares of Block in a research note on Friday, July 26th. Deutsche Bank Aktiengesellschaft lifted their target price on Block from $90.00 to $98.00 and gave the company a “buy” rating in a research report on Friday, July 12th. UBS Group cut their price target on Block from $100.00 to $92.00 and set a “buy” rating on the stock in a research note on Tuesday, August 27th. William Blair raised shares of Block to a “strong-buy” rating in a research note on Wednesday, July 31st. Finally, Oppenheimer assumed coverage on shares of Block in a report on Tuesday, October 1st. They set a “market perform” rating on the stock. One research analyst has rated the stock with a sell rating, seven have given a hold rating, twenty-four have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, Block presently has a consensus rating of “Moderate Buy” and an average target price of $87.31.

Read Our Latest Report on Block

Block Company Profile

(Get Free Report)

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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