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

Block, Inc. (NYSE:SQ) insider Brian Grassadonia sold 8,328 shares of the business’s stock in a transaction on Thursday, November 21st. The stock was sold at an average price of $91.18, for a total value of $759,347.04. Following the sale, the insider now owns 563,894 shares in the company, valued at approximately $51,415,854.92. The trade was a 1.46 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link.

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

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

Block Stock Performance

Shares of SQ stock opened at $90.79 on Tuesday. The company’s fifty day simple moving average is $74.33 and its 200-day simple moving average is $68.20. The company has a current ratio of 2.07, a quick ratio of 2.07 and a debt-to-equity ratio of 0.26. Block, Inc. has a 52 week low of $55.00 and a 52 week high of $94.12. The company has a market cap of $56.27 billion, a PE ratio of 51.01, a P/E/G ratio of 1.24 and a beta of 2.48.

Wall Street Analysts Forecast Growth

SQ has been the topic of several research reports. Wells Fargo & Company lowered their price target on shares of Block from $95.00 to $85.00 and set an “overweight” rating on the stock in a research report on Friday, August 2nd. Needham & Company LLC raised their price target on Block from $80.00 to $90.00 and gave the stock a “buy” rating in a research report on Friday, November 8th. UBS Group reduced their price objective on Block from $100.00 to $92.00 and set a “buy” rating on the stock in a research report on Tuesday, August 27th. BNP Paribas cut Block from an “outperform” rating to a “neutral” rating and set a $88.00 price objective for the company. in a research report on Wednesday, November 20th. Finally, Royal Bank of Canada restated an “outperform” rating and issued a $88.00 target price on shares of Block in a report on Monday, October 21st. One analyst has rated the stock with a sell rating, seven have issued a hold rating and twenty-three have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $91.46.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in SQ. Baillie Gifford & Co. grew its stake in shares of Block by 1.5% in the third quarter. Baillie Gifford & Co. now owns 10,233,102 shares of the technology company’s stock valued at $686,948,000 after buying an additional 147,873 shares in the last quarter. Geode Capital Management LLC grew 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 valued at $581,923,000 after acquiring an additional 133,002 shares in the last quarter. Lone Pine Capital LLC raised its stake in shares of Block by 13.9% during the second quarter. Lone Pine Capital LLC now owns 7,670,523 shares of the technology company’s stock valued at $494,672,000 after purchasing an additional 934,588 shares during the period. Charles Schwab Investment Management Inc. lifted its position in shares of Block by 2.1% during 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 purchasing an additional 45,472 shares in the last quarter. Finally, Dimensional Fund Advisors LP boosted its stake in shares of Block by 17.8% in the second quarter. Dimensional Fund Advisors LP now owns 2,157,733 shares of the technology company’s stock valued at $139,143,000 after purchasing an additional 326,444 shares during the period. 70.44% of the stock is owned by hedge funds and other 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.