En bloc (NYSE:SQ) traded down 1.9% after the analyst downgrade

Block, Inc. (NYSE:SQ – Get Free Report ) fell 1.9% on Wednesday after UBS Group cut its price target on the stock from $100.00 to $92.00. UBS Group currently has a buy rating on the stock. Block traded as high as $65.36 and last traded at $65.37. About 713,159 shares changed hands during mid-day trading, down 92% from the average daily volume of 8,613,870 shares. Shares previously closed at $66.64.

SQ has been the subject of several other research reports. Needham & Company LLC lowered their price objective on shares of Block from $105.00 to $80.00 and set a “buy” rating for the company in a research report on Monday, August 5th. Royal Bank of Canada reiterated an “outperform” rating and issued a $88.00 price objective on shares of Block in a report on Friday, August 2nd. Canaccord Genuity Group restated a “buy” rating and set a $95.00 target price on shares of Block in a research note on Friday, May 3rd. Robert W. Baird boosted their price target on Block from $98.00 to $100.00 and gave the stock an “outperform” rating in a research note on Friday, May 3rd. Finally, Wedbush restated an “outperform” rating and set a $90.00 price objective on shares of Block in a research note on Friday, May 3rd. One analyst has rated the stock with a sell rating, five have given a hold rating, twenty-five have issued a buy rating and one has given a strong buy rating to the company. The stock presently has an average rating of “Moderate Buy” and a consensus price target of $87.52, based on data from MarketBeat.com.

Read our latest review of Block

Insider buying and selling

In related news, insider Brian Grassadonia sold 1,889 shares of Block stock in a transaction dated Tuesday, July 2nd. The stock was sold at an average price of $64.37, for a total value of $121,594.93. Following the transaction, the insider now directly owns 590,761 shares in the company, valued at approximately $38,027,285.57. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible via this hyperlink. In other news, insider Chrysty Esperanza sold 2,500 shares of the company’s stock in a transaction that occurred on Monday, July 15th. The shares were sold at an average price of $70.00, for a total transaction of $175,000.00. Following the sale, the insider now owns 92,048 shares in the company, valued at $6,443,360. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed via this hyperlink. Also, insider Brian Grassadonia sold 1,889 shares of the company’s stock in a transaction that occurred on Tuesday, July 2nd. The shares were sold at an average price of $64.37, for a total transaction of $121,594.93. Following the completion of the transaction, the insider now directly owns 590,761 shares of the company’s stock, valued at approximately $38,027,285.57. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 28,179 shares of company stock worth $1,833,962. Corporate insiders own 10.49% of the company’s shares.

Institutional block trading

A number of hedge funds have recently modified their holdings of the business. Montag A & Associates Inc. lifted its holdings in shares of Block by 843.2% in the 4th quarter. Montag A & Associates Inc. now owns 349 shares of the technology company’s stock valued at $27,000 after purchasing an additional 312 shares during the period. Riverview Trust Co purchased a new position in Block in the first quarter valued at approximately $28,000. Tidemark LLC purchased a new stake in Block in the 4th quarter valued at approximately $32,000. YHB Investment Advisors Inc. purchased a new stake in Block in the 1st quarter worth approximately $33,000. Finally, Vima LLC purchased a new stake in shares of Block during the 4th quarter valued at $34,000. Hedge funds and other institutional investors own 70.44% of the company’s shares.

Block stock performance

The company has a current ratio of 1.82, a quick ratio of 1.82, and a debt-to-equity ratio of 0.26. The firm has a market cap of $40.97 billion, a PE ratio of 86.23, a PEG ratio of 1.15 and a beta of 2.52. The company’s fifty day moving average price is $64.13 and its 200 day moving average price is $69.83.

Block (NYSE:SQ – Get Free Report ) last released its quarterly earnings data on Thursday, August 1st. The technology company reported $0.93 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.84 by $0.09. Block had a return on equity of 3.77% and a net margin of 3.47%. The firm had revenue of $6.16 billion during the quarter, compared to analysts’ expectations of $6.27 billion. In the same quarter last year, the company earned $0.40 per share. The company’s revenue for the quarter was up 11.2% year-over-year. On average, research analysts anticipate that Block, Inc. will post 1.72 earnings per share for the current year.

About Block

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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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