Block, Inc. (NYSE:SQ) Insider Brian Grassadonia Sells 5,431 Shares

Block, Inc. (NYSE:SQ – Free Report) insider Brian Grassadonia sold 5,431 shares of the stock in a transaction that occurred on Monday, July 3rd. The shares were sold at an average price of $66.84, for a total transaction of $363,008.04. Following the sale, the insider now directly owns 310,570 shares of the company’s stock, valued at approximately $20,758,498.80. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed via this hyperlink.

Block Stock Performance

Shares of NYSE SQ opened at $67.26 on Friday. The company’s 50-day simple moving average is $62.23 and its 200-day simple moving average is $68.07. Block, Inc. has a 52-week low of $51.34 and a 52-week high of $93.19. The company has a current ratio of 1.83, a quick ratio of 1.83 and a debt-to-equity ratio of 0.24.

Block (NYSE:SQ – Free Report) last announced its earnings results on Thursday, May 4th. The technology company reported $0.06 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.11) by $0.17. Block had a negative net margin of 1.92% and a negative return on equity of 1.22%. The business had revenue of $4.99 billion for the quarter, compared to analyst estimates of $4.58 billion. Sell-side analysts predict that Block, Inc. will post -0.08 EPS for the current year.

Wall Street Analysts Forecast Growth

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A number of research analysts have issued reports on SQ shares. Keefe, Bruyette & Woods cut shares of Block from an “outperform” rating to a “market perform” rating and decreased their price target for the stock from $90.00 to $75.00 in a report on Sunday, April 9th. Barclays decreased their price target on shares of Block from $103.00 to $95.00 in a report on Sunday, May 7th. Wolfe Research decreased their price target on shares of Block from $90.00 to $85.00 in a report on Monday, June 5th. Jefferies Financial Group decreased their price target on shares of Block from $90.00 to $80.00 in a report on Wednesday, April 12th. Finally, Credit Suisse Group decreased their price target on shares of Block from $105.00 to $100.00 in a report on Tuesday, April 25th. Four equity research analysts have rated the stock with a sell rating, six have given a hold rating and twenty-two have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $95.15.

Institutional Trading of Blocks

Institutional investors have recently modified their holdings of the stock. Oxler Private Wealth LLC lifted its stake in shares of Block by 95.7% in the third quarter. Oxler Private Wealth LLC now owns 460 shares of the technology company’s stock worth $25,000 after buying an additional 225 shares in the last quarter. Ronald Blue Trust Inc. lifted its stake in shares of Block by 72.5% in the fourth quarter. Ronald Blue Trust Inc. now owns 476 shares of the technology company’s stock worth $26,000 after buying an additional 200 shares in the last quarter. IAG Wealth Partners LLC lifted its stake in shares of Block by 100.0% in the first quarter. IAG Wealth Partners LLC now owns 400 shares of the technology company’s stock worth $27,000 after buying an additional 200 shares in the last quarter. Strategic Investment Solutions Inc. IL purchased a new position in shares of Block in the first quarter worth about $31,000. Finally, GPS Wealth Strategies Group LLC purchased a new position in shares of Block in the first quarter worth about $32,000. Institutional investors and hedge funds own 63.97% of the company’s stock.

Block Company Profile

(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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Insider Buying and Selling by Quarter for Block (NYSE:SQ)

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