Block, Inc. (NYSE:SQ) CFO Amrita Ahuja sells 6,661 shares

Block, Inc. (NYSE:SQ – Get Your Free Report ) CFO Amrita Ahuja sold 6,661 shares of the stock in a transaction on Wednesday, August 21st. The shares were sold at an average price of $64.70, for a total value of $430,966.70. Following the completion of the transaction, the chief financial officer now directly owns 264,697 shares in the company, valued at approximately $17,125,895.90. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed via this hyperlink.

Amrita Ahuja also recently made the following trades:

• On Monday, July 8th, Amrita Ahuja sold 1,147 shares of Block stock. The shares were sold at an average price of $66.57, for a total value of $76,355.79.
• On Tuesday, July 2nd, Amrita Ahuja sold 5,277 shares of Block stock. The shares were sold at an average price of $64.13, for a total value of $338,414.01.

Block price performance

Shares of SQ stock opened at $65.34 on Friday. The company has a quick ratio of 1.82, a current ratio of 1.82, and a debt-to-equity ratio of 0.26. Block, Inc. has a 12-month low of $38.85 and a 12-month high of $87.52. The company has a market cap of $40.23 billion, a P/E ratio of 84.86, a price-to-earnings-growth ratio of 1.15 and a beta of 2.52. The firm has a 50-day moving average of $63.92 and a 200-day moving average of $69.86.

Block (NYSE:SQ – Get Your Free Report ) last posted its earnings results on Thursday, August 1st. The technology company reported $0.93 EPS for the quarter, topping analysts’ consensus estimates of $0.84 by $0.09. Block had a net margin of 3.47% and a return on equity of 3.77%. The company had revenue of $6.16 billion during the quarter, compared to the consensus estimate of $6.27 billion. In the same quarter last year, the firm posted EPS of $0.40. The company’s revenue increased by 11.2% year-on-year. As a group, equities research analysts anticipate that Block, Inc. will post 1.72 earnings per share for the current fiscal year.

Analyst upgrades and downgrades

SQ has been the subject of several recent research reports. Wells Fargo & Company decreased their price objective on Block from $95.00 to $85.00 and set an “overweight” rating on the stock in a research note on Friday, August 2nd. TD Cowen upped their target price on shares of Block from $90.00 to $92.00 and gave the stock a “buy” rating in a report on Friday, May 3rd. BMO Capital Markets upped their target price on shares of Block from $92.00 to $93.00 and gave the stock an “outperform” rating in a report on Friday, August 2nd. Monness Crespi & Hardt reiterated a “neutral” rating on shares of Block in a report on Thursday, May 2nd. Finally, Royal Bank of Canada reiterated an “outperform” rating and set a $88.00 target price on shares of Block in a report on Friday, August 2nd. One investment analyst has rated the stock with a sell rating, six have issued a hold rating, twenty-four have issued a buy rating and one has issued a strong buy rating to the company’s stock. The company has a consensus rating of “Moderate Buy” and a consensus price target of $86.59, according to MarketBeat.com.

See our latest report on SQ

Institutional inputs and outputs

A number of large investors have recently modified their holdings of the company. Truist Financial Corp raised its stake in Block by 0.7% in the 2nd quarter. Truist Financial Corp now owns 145,038 shares of the technology company’s stock valued at $9,353,000 after buying an additional 1,074 shares in the last quarter. EP Wealth Advisors LLC boosted its stake in Block by 7.0% in the 2nd quarter. EP Wealth Advisors LLC now owns 3,897 shares of the technology company’s stock valued at $251,000 after buying an additional 254 shares in the the last quarter. Quarry LP raised its stake in Block by 713.2% in the 2nd quarter. Quarry LP now owns 1,537 shares of the technology company’s stock valued at $99,000 after buying an additional 1,348 shares in the last quarter. Sunbelt Securities Inc. raised its stake in shares of Block by 9.8% during the 2nd quarter. Sunbelt Securities Inc. now owns 8,407 shares of the technology company’s stock valued at $542,000 after buying an additional 753 shares in the last quarter. Finally, Algert Global LLC acquired a new position in shares of Block during the 2nd quarter valued at $483,000. Hedge funds and other institutional investors own 70.44% of the company’s shares.

About Block

(Get a free report)

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 enable merchants to turn mobile and computing devices into payment and point-of-sale solutions. Offers hardware products, including the Magstripe reader, which enables swipe 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 allows swipe transactions with magnetic stripe cards; Square Stand, which allows an iPad to be used as a payment terminal or a complete point of sale solution; and Square Register, which combines hardware, point-of-sale software and payment technology, as well as managed payment solutions.

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