Brian Grassadonia Sells 8,328 Shares of Block, Inc. (NYSE:SQ) Stock

Block, Inc. (NYSE:SQ) insider Brian Grassadonia sold 8,328 shares of the firm’s stock in a transaction dated 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 owns 563,894 shares of the company’s stock, valued at approximately $51,415,854.92. This represents a 1.46 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website.

Brian Grassadonia also recently made the following trade(s):

• On Wednesday, October 2nd, Brian Grassadonia sold 1,884 shares of Block stock. The stock was sold at an average price of $65.41, for a total value of $123,232.44.

Block Stock Performance

NYSE:SQ opened at $89.04 on Wednesday. The company has a market capitalization of $55.19 billion, a P/E ratio of 50.02, a P/E/G ratio of 1.24 and a beta of 2.48. The business has a fifty day simple moving average of $74.76 and a two-hundred day simple moving average of $68.32. The company has a debt-to-equity ratio of 0.26, a current ratio of 2.07 and a quick ratio of 2.07. Block, Inc. has a 1 year low of $55.00 and a 1 year high of $94.12.

Analyst Ratings Changes

A number of brokerages have recently weighed in on SQ. Piper Sandler reaffirmed an “overweight” rating and set a $83.00 target price on shares of Block in a research report on Monday, November 11th. Canaccord Genuity Group upped their price objective on shares of Block from $95.00 to $120.00 and gave the stock a “buy” rating in a report on Tuesday, November 12th. Royal Bank of Canada reiterated an “outperform” rating and set a $88.00 price objective on shares of Block in a report on Monday, October 21st. UBS Group lowered their target price on shares of Block from $100.00 to $92.00 and set a “buy” rating on the stock in a report on Tuesday, August 27th. Finally, BMO Capital Markets cut shares of Block from an “outperform” rating to a “market perform” rating and raised their price target for the company from $94.00 to $100.00 in a research report on Monday. One research analyst has rated the stock with a sell rating, seven have given a hold rating and twenty-three have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $91.46.

Institutional Investors Weigh In On Block

Several large investors have recently added to or reduced their stakes in SQ. SouthState Corp raised its holdings in Block by 85.3% during the 3rd quarter. SouthState Corp now owns 391 shares of the technology company’s stock valued at $26,000 after acquiring an additional 180 shares during the period. True Wealth Design LLC grew its position in shares of Block by 64.7% in the third quarter. True Wealth Design LLC now owns 494 shares of the technology company’s stock valued at $33,000 after purchasing an additional 194 shares in the last quarter. LRI Investments LLC bought a new stake in shares of Block during the 1st quarter valued at $34,000. Unique Wealth Strategies LLC purchased a new stake in Block during the 2nd quarter worth about $34,000. Finally, Migdal Insurance & Financial Holdings Ltd. bought a new position in Block in the 2nd quarter worth about $44,000. 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.