Block, Inc. (NYSE:SQ) CAO Ajmere Dale Sells 1,278 Shares

Block, Inc. (NYSE:SQ) CAO Ajmere Dale sold 1,278 shares of the stock in a transaction on Tuesday, May 21st. The shares were sold at an average price of $71.26, for a total value of $91,070.28. Following the sale, the chief accounting officer now owns 93,337 shares in the company, valued at approximately $6,651,194.62. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website.

Ajmere Dale also recently made the following trade(s):

• On Monday, April 1st, Ajmere Dale sold 500 shares of Block stock. The shares were sold at an average price of $84.75, for a total transaction of $42,375.00.

Block Stock Performance

Shares of Block stock opened at $66.30 on Friday. Block, Inc. has a 52 week low of $38.85 and a 52 week high of $87.52. The company has a debt-to-equity ratio of 0.16, a quick ratio of 1.64 and a current ratio of 1.64. The stock has a market capitalization of $40.91 billion, a price-to-earnings ratio of 86.11, a PEG ratio of 1.58 and a beta of 2.57. The firm has a fifty day moving average of $75.19 and a two-hundred day moving average of $70.84.

Block (NYSE:SQ) last issued its earnings results on Thursday, May 2nd. The technology company reported $0.47 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.15 by $0.32. The firm had revenue of $5.96 billion for the quarter, compared to analysts’ expectations of $5.75 billion. Block had a return on equity of 2.04% and a net margin of 2.18%. As a group, equities research analysts predict that Block, Inc. will post 1.26 EPS for the current year.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on the company. BTIG Research raised Block from a “neutral” rating to a “buy” rating and set a $85.00 price objective on the stock in a research report on Tuesday, January 30th. Truist Financial increased their price objective on Block from $90.00 to $100.00 and gave the stock a “buy” rating in a research note on Friday, February 23rd. Piper Sandler restated an “overweight” rating and issued a $88.00 price objective (up from $86.00) on shares of Block in a report on Friday, February 23rd. KeyCorp raised their target price on shares of Block from $80.00 to $95.00 and gave the company an “overweight” rating in a research report on Wednesday, March 27th. Finally, Needham & Company LLC lifted their price objective on shares of Block from $95.00 to $105.00 and gave the company a “buy” rating in a report on Friday, May 3rd. One research analyst has rated the stock with a sell rating, seven have given a hold rating and twenty-seven have assigned a buy rating to the stock. According to MarketBeat, Block has an average rating of “Moderate Buy” and a consensus target price of $87.59.

Institutional Investors Weigh In On Block

Several hedge funds have recently bought and sold shares of SQ. Riverview Trust Co acquired a new position in Block in the 1st quarter worth $28,000. Montag A & Associates Inc. grew its holdings in shares of Block by 843.2% during the fourth quarter. Montag A & Associates Inc. now owns 349 shares of the technology company’s stock worth $27,000 after buying an additional 312 shares in the last quarter. YHB Investment Advisors Inc. acquired a new stake in Block in the 1st quarter valued at approximately $33,000. LRI Investments LLC bought a new stake in Block in the 1st quarter valued at approximately $34,000. Finally, Tidemark LLC acquired a new position in Block during the 4th quarter worth approximately $32,000. 70.44% of the stock is currently owned by institutional investors and hedge funds.

About Block

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.