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

Block, Inc. (NYSE:SQ) insider Brian Grassadonia sold 8,328 shares of Block stock in a transaction that occurred 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 $51,415,854.92. This represents a 1.46 % decrease in their ownership of the stock. The transaction was disclosed in a legal 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 Trading Down 1.6 %

Shares of NYSE:SQ opened at $90.79 on Tuesday. The company has a debt-to-equity ratio of 0.26, a quick ratio of 2.07 and a current ratio of 2.07. The stock has a market capitalization of $56.27 billion, a price-to-earnings ratio of 51.01, a PEG ratio of 1.24 and a beta of 2.48. Block, Inc. has a 1-year low of $55.00 and a 1-year high of $94.12. The company has a 50 day moving average price of $74.33 and a 200 day moving average price of $68.20.

Institutional Investors Weigh In On Block

Several large investors have recently modified their holdings of SQ. Baillie Gifford & Co. raised its position in shares of Block by 45.7% during the second quarter. Baillie Gifford & Co. now owns 10,085,229 shares of the technology company’s stock worth $650,396,000 after purchasing an additional 3,163,975 shares during the period. Southpoint Capital Advisors LP acquired a new stake in Block during the 3rd quarter worth about $114,121,000. Massachusetts Financial Services Co. MA lifted its stake in Block by 770.0% during the third quarter. Massachusetts Financial Services Co. MA now owns 1,738,708 shares of the technology company’s stock valued at $116,719,000 after buying an additional 1,538,849 shares in the last quarter. Lone Pine Capital LLC boosted its holdings in shares of 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 buying an additional 934,588 shares during the period. Finally, D1 Capital Partners L.P. increased its position in shares of Block by 76.7% in the second quarter. D1 Capital Partners L.P. now owns 1,831,342 shares of the technology company’s stock worth $118,103,000 after acquiring an additional 795,000 shares in the last quarter. 70.44% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several research analysts have weighed in on the stock. BNP Paribas lowered shares of Block from an “outperform” rating to a “neutral” rating and set a $88.00 price objective for the company. in a report on Wednesday, November 20th. Piper Sandler reissued an “overweight” rating and issued a $83.00 price objective on shares of Block in a report on Monday, November 11th. Benchmark reaffirmed a “buy” rating and set a $99.00 target price on shares of Block in a report on Friday, August 2nd. Needham & Company LLC boosted their price target on Block from $80.00 to $90.00 and gave the company a “buy” rating in a report on Friday, November 8th. Finally, UBS Group decreased their price objective on shares of Block from $100.00 to $92.00 and set a “buy” rating for the company in a report on Tuesday, August 27th. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and twenty-three have issued a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $91.46.

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.