Posted by admin on Aug 12th, 2022

Block, Inc. (NYSE:SQ – Get Rating) CFO Amrita Ahuja sold 8,130 shares of the stock in a transaction that occurred on Monday, August 8th. The stock was sold at an average price of $88.13, for a total value of $716,496.90. Following the completion of the transaction, the chief financial officer now directly owns 151,829 shares in the company, valued at approximately $13,380,689.77. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.

Amrita Ahuja also recently made the following trade(s):

NYSE SQ opened at $85.99 on Friday. The stock has a 50-day simple moving average of $71.28 and a two-hundred day simple moving average of $96.04. The firm has a market capitalization of $49.88 billion, a P/E ratio of -94.49 and a beta of 2.45. Block, Inc. has a fifty-two week low of $56.01 and a fifty-two week high of $276.14. The company has a debt-to-equity ratio of 0.24, a quick ratio of 1.97 and a current ratio of 1.80.

Block (NYSE:SQ – Get Rating) last posted its earnings results on Thursday, August 4th. The technology company reported $0.18 EPS for the quarter, beating analysts’ consensus estimates of $0.17 by $0.01. Block had a negative return on equity of 2.52% and a negative net margin of 3.00%. The firm had revenue of $4.41 billion for the quarter, compared to analysts’ expectations of $4.33 billion. During the same period last year, the firm earned $0.38 EPS. The company’s quarterly revenue was down 5.8% on a year-over-year basis. On average, equities analysts forecast that Block, Inc. will post -0.72 earnings per share for the current year.

Several brokerages have issued reports on SQ. Barclays dropped their target price on Block from $150.00 to $130.00 and set an “overweight” rating on the stock in a research report on Monday. William Blair reaffirmed a “market perform” rating on shares of Block in a research report on Friday, August 5th. Moffett Nathanson dropped their target price on Block from $200.00 to $170.00 in a research report on Friday, May 6th. Royal Bank of Canada increased their target price on Block from $91.00 to $95.00 in a research report on Friday, August 5th. Finally, Wedbush dropped their target price on Block from $140.00 to $100.00 and set a “neutral” rating on the stock in a research report on Thursday, May 19th. One analyst has rated the stock with a sell rating, five have issued a hold rating and thirty-five have assigned a buy rating to the stock. Based on data from MarketBeat, Block has a consensus rating of “Moderate Buy” and an average target price of $152.34.

Several institutional investors have recently made changes to their positions in the company. 1832 Asset Management L.P. raised its position in Block by 6,085.0% in the first quarter. 1832 Asset Management L.P. now owns 1,805,100 shares of the technology company’s stock valued at $241,508,000 after purchasing an additional 1,775,915 shares during the period. Loomis Sayles & Co. L P grew its stake in shares of Block by 12.4% in the second quarter. Loomis Sayles & Co. L P now owns 7,221,371 shares of the technology company’s stock worth $443,826,000 after acquiring an additional 796,675 shares in the last quarter. Nepsis Inc. acquired a new position in shares of Block in the first quarter worth $17,434,000. ST Germain D J Co. Inc. grew its stake in shares of Block by 141.4% in the first quarter. ST Germain D J Co. Inc. now owns 209,029 shares of the technology company’s stock worth $28,344,000 after acquiring an additional 122,440 shares in the last quarter. Finally, Steadview Capital Management LLC grew its stake in shares of Block by 22.1% in the second quarter. Steadview Capital Management LLC now owns 589,353 shares of the technology company’s stock worth $36,222,000 after acquiring an additional 106,486 shares in the last quarter. Hedge funds and other institutional investors own 54.56% of the company’s stock.

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.

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