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 stock in a transaction that occurred on Thursday, November 21st. The shares were sold at an average price of $91.18, for a total transaction of $759,347.04. Following the completion of the sale, the insider now directly owns 563,894 shares of the company’s stock, valued at $51,415,854.92. This trade represents a 1.46 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available 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 transaction of $123,232.44.

Block Price Performance

Shares of NYSE SQ opened at $88.77 on Thursday. Block, Inc. has a fifty-two week low of $55.00 and a fifty-two week high of $94.12. The firm’s 50-day simple moving average is $75.20 and its 200 day simple moving average is $68.47. The company has a quick ratio of 2.07, a current ratio of 2.07 and a debt-to-equity ratio of 0.26. The stock has a market cap of $55.02 billion, a P/E ratio of 49.87, a P/E/G ratio of 1.22 and a beta of 2.48.

Institutional Investors Weigh In On Block

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Baillie Gifford & Co. raised its stake in shares of Block by 1.5% during the third quarter. Baillie Gifford & Co. now owns 10,233,102 shares of the technology company’s stock valued at $686,948,000 after purchasing an additional 147,873 shares in the last quarter. Geode Capital Management LLC raised its position in Block by 1.6% in the third quarter. Geode Capital Management LLC now owns 8,690,075 shares of the technology company’s stock worth $581,923,000 after acquiring an additional 133,002 shares in the last quarter. Lone Pine Capital LLC raised its position in Block by 13.9% in the second quarter. Lone Pine Capital LLC now owns 7,670,523 shares of the technology company’s stock worth $494,672,000 after acquiring an additional 934,588 shares in the last quarter. Charles Schwab Investment Management Inc. raised its position in Block by 2.1% in the third quarter. Charles Schwab Investment Management Inc. now owns 2,202,388 shares of the technology company’s stock worth $147,846,000 after acquiring an additional 45,472 shares in the last quarter. Finally, Dimensional Fund Advisors LP raised its position in Block by 17.8% in the second quarter. Dimensional Fund Advisors LP now owns 2,157,733 shares of the technology company’s stock worth $139,143,000 after acquiring an additional 326,444 shares in the last quarter. 70.44% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

SQ has been the subject of a number of recent analyst reports. William Blair reissued an “outperform” rating on shares of Block in a research report on Friday, November 15th. Oppenheimer initiated coverage on shares of Block in a research report on Tuesday, October 1st. They set a “market perform” rating for the company. Piper Sandler reissued an “overweight” rating and set a $83.00 price target on shares of Block in a research report on Monday, November 11th. New Street Research began coverage on shares of Block in a research report on Monday, September 9th. They set a “neutral” rating and a $70.00 price target for the company. Finally, Needham & Company LLC lifted their price objective on shares of Block from $80.00 to $90.00 and gave the stock a “buy” rating in a report on Friday, November 8th. One research analyst has rated the stock with a sell rating, seven have given a hold rating and twenty-three have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $91.46.

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.