Block (NYSE:SQ) Cut to "Market Perform" at BMO Capital Markets

Block (NYSE:SQ - Get Free Report) was downgraded by analysts at BMO Capital Markets from an "outperform" rating to a "market perform" rating in a report released on Monday, MarketBeat.com reports. They presently have a $100.00 price objective on the technology company's stock, up from their prior price objective of $94.00. BMO Capital Markets' target price would indicate a potential upside of 10.62% from the stock's current price.

A number of other research firms have also recently weighed in on SQ. Royal Bank of Canada reaffirmed an "outperform" rating and set a $88.00 target price on shares of Block in a research note on Monday, October 21st. New Street Research initiated coverage on Block in a research report on Monday, September 9th. They set a "neutral" rating and a $70.00 price objective on the stock. Benchmark reiterated a "buy" rating and issued a $99.00 target price on shares of Block in a research report on Friday, August 2nd. BNP Paribas lowered Block from an "outperform" rating to a "neutral" rating and set a $88.00 price target on the stock. in a research note on Wednesday, November 20th. Finally, William Blair reaffirmed an "outperform" rating on shares of Block in a research note on Friday, November 15th. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and twenty-three have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $91.46.

Block Price Performance

Shares of SQ stock traded down $1.86 on Monday, reaching $90.40. The company had a trading volume of 8,482,336 shares, compared to its average volume of 8,236,176. The business's 50-day moving average is $73.83 and its 200 day moving average is $68.07. Block has a one year low of $55.00 and a one year high of $94.12. The company has a quick ratio of 2.07, a current ratio of 2.07 and a debt-to-equity ratio of 0.26. The stock has a market capitalization of $56.03 billion, a PE ratio of 50.74, a price-to-earnings-growth ratio of 1.24 and a beta of 2.48.

Insider Buying and Selling at Block

In other Block news, CAO Ajmere Dale sold 500 shares of the firm's stock in a transaction dated Tuesday, October 1st. The shares were sold at an average price of $67.00, for a total transaction of $33,500.00. Following the completion of the sale, the chief accounting officer now directly owns 90,460 shares in the company, valued at approximately $6,060,820. This trade represents a 0.55 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Brian Grassadonia sold 1,884 shares of the company's stock in a transaction that occurred on Wednesday, October 2nd. The stock was sold at an average price of $65.41, for a total transaction of $123,232.44. Following the completion of the transaction, the insider now owns 574,914 shares in the company, valued at approximately $37,605,124.74. This represents a 0.33 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 12,283 shares of company stock valued at $862,773. 10.49% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the business. Yoder Wealth Management Inc. raised its stake in Block by 0.4% during the 3rd quarter. Yoder Wealth Management Inc. now owns 39,688 shares of the technology company's stock valued at $2,664,000 after buying an additional 145 shares during the last quarter. Nations Financial Group Inc. IA ADV increased its position in Block by 1.9% during the third quarter. Nations Financial Group Inc. IA ADV now owns 7,744 shares of the technology company's stock valued at $520,000 after acquiring an additional 145 shares during the last quarter. Moser Wealth Advisors LLC lifted its holdings in Block by 2.5% in the third quarter. Moser Wealth Advisors LLC now owns 6,265 shares of the technology company's stock valued at $421,000 after acquiring an additional 153 shares during the period. Lindbrook Capital LLC boosted its position in Block by 6.3% in the third quarter. Lindbrook Capital LLC now owns 2,592 shares of the technology company's stock worth $174,000 after purchasing an additional 154 shares during the last quarter. Finally, Larson Financial Group LLC grew its stake in shares of Block by 14.8% during the 3rd quarter. Larson Financial Group LLC now owns 1,192 shares of the technology company's stock valued at $80,000 after purchasing an additional 154 shares during the period. Hedge funds and other institutional investors own 70.44% of the company's stock.

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.