Brian Grassadonia Sells 113,668 Shares of Block, Inc. (NYSE:SQ) Stock

Block, Inc. (NYSE:SQ) insider Brian Grassadonia sold 113,668 shares of the stock in a transaction that occurred on Wednesday, May 1st. The stock was sold at an average price of $67.56, for a total transaction of $7,679,410.08. Following the completion of the sale, the insider now owns 603,861 shares of the company’s stock, valued at approximately $40,796,849.16. The transaction was disclosed in a filing with the SEC, which can be accessed through this link.

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

• On Wednesday, April 3rd, Brian Grassadonia sold 4,514 shares of Block stock. The stock was sold at an average price of $78.41, for a total value of $353,942.74.
• On Monday, April 1st, Brian Grassadonia sold 111,666 shares of Block stock. The stock was sold at an average price of $82.73, for a total value of $9,238,128.18.
• On Monday, March 4th, Brian Grassadonia sold 111,914 shares of Block stock. The shares were sold at an average price of $78.17, for a total value of $8,748,317.38.
• On Tuesday, February 20th, Brian Grassadonia sold 127,800 shares of Block stock. The shares were sold at an average price of $65.45, for a total transaction of $8,364,510.00.

Block Stock Performance

NYSE:SQ opened at $69.45 on Friday. The firm has a market capitalization of $42.76 billion, a PE ratio of 90.20, a price-to-earnings-growth ratio of 1.94 and a beta of 2.57. The company has a quick ratio of 1.90, a current ratio of 1.90 and a debt-to-equity ratio of 0.22. Block, Inc. has a 12-month low of $38.85 and a 12-month high of $87.52. The firm has a 50-day moving average price of $77.82 and a 200 day moving average price of $67.83.

Block (NYSE:SQ) last issued its earnings results on Thursday, February 22nd. The technology company reported $0.03 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.02 by $0.01. The business had revenue of $5.77 billion during the quarter, compared to analysts’ expectations of $5.69 billion. Block had a return on equity of 2.07% and a net margin of 2.18%. Research analysts anticipate that Block, Inc. will post 1.11 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on SQ. Wedbush restated an “outperform” rating and set a $90.00 price target on shares of Block in a report on Friday. Piper Sandler restated an “overweight” rating and set a $88.00 target price (up from $86.00) on shares of Block in a report on Friday, February 23rd. Evercore ISI reiterated an “in-line” rating and set a $75.00 price target on shares of Block in a research note on Tuesday, March 26th. Citigroup raised their price objective on Block from $76.00 to $86.00 and gave the company a “buy” rating in a research note on Monday, February 26th. Finally, BTIG Research raised Block from a “neutral” rating to a “buy” rating and set a $85.00 target price for the company in a research report on Tuesday, January 30th. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and twenty-seven have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Block currently has an average rating of “Moderate Buy” and an average price target of $87.42.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in SQ. Commonwealth Equity Services LLC grew its holdings in shares of Block by 0.3% in the 3rd quarter. Commonwealth Equity Services LLC now owns 276,975 shares of the technology company’s stock worth $12,259,000 after purchasing an additional 748 shares during the last quarter. Cambridge Investment Research Advisors Inc. boosted its position in Block by 9.8% in the third quarter. Cambridge Investment Research Advisors Inc. now owns 83,911 shares of the technology company’s stock valued at $3,714,000 after buying an additional 7,507 shares in the last quarter. Xponance Inc. grew its stake in Block by 3.8% during the third quarter. Xponance Inc. now owns 42,171 shares of the technology company’s stock worth $1,866,000 after buying an additional 1,562 shares during the last quarter. Raymond James Financial Services Advisors Inc. increased its holdings in shares of Block by 5.0% during the third quarter. Raymond James Financial Services Advisors Inc. now owns 154,987 shares of the technology company’s stock worth $6,860,000 after buying an additional 7,412 shares in the last quarter. Finally, Stratos Wealth Advisors LLC bought a new position in shares of Block in the third quarter valued at approximately $434,000. 70.44% of the stock is owned by institutional investors.

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.