Equity Management

Block, Inc. (NYSE:SQ) CAO Ajmere Dale Sells 1,032 Shares

Block, Inc. (NYSE:SQ - Get Rating) CAO Ajmere Dale sold 1,032 shares of the company's stock in a transaction dated Tuesday, January 3rd. The stock was sold at an average price of $64.28, for a total…

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Feb 4, 2023 • 4 min read

Block, Inc. (NYSE:SQ - Get Rating) CAO Ajmere Dale sold 1,032 shares of Block stock in a transaction dated Tuesday, January 3rd. The stock was sold at an average price of $64.28, for a total value of $66,336.96. Following the sale, the chief accounting officer now directly owns 46,892 shares of the company's stock, valued at approximately $3,014,217.76. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Block Stock Down 2.4 %

NYSE:SQ traded down $1.59 during trading hours on Thursday, hitting $64.71. 10,932,159 shares of the stock traded hands, compared to its average volume of 13,157,346. The firm has a 50 day moving average price of $63.56 and a 200 day moving average price of $66.05. The company has a current ratio of 1.86, a quick ratio of 1.86 and a debt-to-equity ratio of 0.25. Block, Inc. has a fifty-two week low of $51.34 and a fifty-two week high of $152.70. The firm has a market cap of $38.70 billion, a price-to-earnings ratio of -71.29, a PEG ratio of 45.39 and a beta of 2.35.

Block (NYSE:SQ - Get Rating) last posted its quarterly earnings results on Thursday, November 3rd. The technology company reported $0.01 EPS for the quarter, beating the consensus estimate of ($0.15) by $0.16. The business had revenue of $4.52 billion for the quarter, compared to analysts' expectations of $4.48 billion. Block had a negative net margin of 2.97% and a negative return on equity of 2.10%. Equities research analysts anticipate that Block, Inc. will post -0.67 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on the company. Jefferies Financial Group restated a "buy" rating and set a $85.00 price target on shares of Block in a report on Friday, November 18th. Morgan Stanley reduced their price objective on Block from $67.00 to $66.00 and set an "equal weight" rating for the company in a report on Thursday, December 8th. Evercore ISI downgraded Block from an "outperform" rating to an "underperform" rating and cut their price objective for the company from $120.00 to $55.00 in a research note on Wednesday, September 14th. Royal Bank of Canada cut their price objective on Block from $95.00 to $93.00 and set an "outperform" rating for the company in a research note on Friday, November 4th. Finally, Robert W. Baird raised Block from a "neutral" rating to an "outperform" rating and boosted their price target for the stock from $62.00 to $78.00 in a report on Tuesday. Two analysts have rated the stock with a sell rating, five have assigned a hold rating and thirty-three have issued a buy rating to the company's stock. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of $112.35.

Institutional Investors Weigh In On Block

Hedge funds have recently bought and sold shares of the company. Oxler Private Wealth LLC boosted its stake in Block by 95.7% in the 3rd quarter. Oxler Private Wealth LLC now owns 460 shares of the technology company's stock valued at $25,000 after buying an additional 225 shares in the last quarter. Householder Group Estate & Retirement Specialist LLC bought a new stake in Block in the third quarter valued at about $28,000. Heritage Wealth Management LLC acquired a new position in Block in the second quarter valued at about $36,000. Twin Lakes Capital Management LLC acquired a new position in Block in the third quarter valued at about $37,000. Finally, Ronald Blue Trust Inc. acquired a new position in Block during the 2nd quarter worth approximately $43,000. 59.49% of the stock is currently owned by institutional investors.

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.