Block (NYSE:SQ) Price Target Raised to $95.00

Block (NYSE:SQ - Free Report) had its price target upped by Wells Fargo & Company from $85.00 to $95.00 in a report released on Thursday morning,Benzinga reports. The brokerage currently has an overweight rating on the technology company's stock.

Several other analysts have also recently issued reports on the stock. Piper Sandler reissued an "overweight" rating and set a $83.00 price objective on shares of Block in a research note on Monday, November 11th. Needham & Company LLC lifted their target price on Block from $80.00 to $90.00 and gave the company a "buy" rating in a report on Friday, November 8th. Raymond James upgraded Block from a "market perform" rating to an "outperform" rating and set a $115.00 price target for the company in a research note on Friday, January 3rd. BNP Paribas lowered Block from an "outperform" rating to a "neutral" rating and set a $88.00 price objective on the stock. in a research note on Wednesday, November 20th. Finally, Macquarie boosted their target price on Block from $100.00 to $110.00 and gave the stock an "outperform" rating in a report on Tuesday, December 10th. One research analyst has rated the stock with a sell rating, five have given a hold rating and twenty-seven have issued a buy rating to the company. Based on data from MarketBeat, Block has a consensus rating of "Moderate Buy" and an average price target of $97.68.

Block Trading Up 0.7 %

Shares of SQ traded up $0.62 during mid-day trading on Thursday, hitting $87.00. The company had a trading volume of 5,788,892 shares, compared to its average volume of 6,727,022. Block has a 1-year low of $55.00 and a 1-year high of $99.26. The business's 50-day simple moving average is $89.61 and its 200-day simple moving average is $74.68. The stock has a market cap of $53.92 billion, a PE ratio of 48.88, a P/E/G ratio of 0.75 and a beta of 2.51. The company has a quick ratio of 2.07, a current ratio of 2.07 and a debt-to-equity ratio of 0.26.

Insider Buying and Selling at Block

In other Block news, insider Chrysty Esperanza sold 2,964 shares of the company's stock in a transaction that occurred on Monday, November 11th. The stock was sold at an average price of $80.00, for a total transaction of $237,120.00. Following the sale, the insider now owns 88,607 shares in the company, valued at $7,088,560. This represents a 3.24 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, CAO Ajmere Dale sold 1,781 shares of Block stock in a transaction that occurred on Thursday, November 21st. The stock was sold at an average price of $91.43, for a total value of $162,836.83. Following the completion of the transaction, the chief accounting officer now owns 86,010 shares of the company's stock, valued at approximately $7,863,894.30. The trade was a 2.03 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 29,981 shares of company stock worth $2,681,185 in the last ninety days. 10.49% of the stock is owned by insiders.

Institutional Trading of Block

A number of institutional investors and hedge funds have recently modified their holdings of SQ. Key Client Fiduciary Advisors LLC boosted its holdings in shares of Block by 1.4% in the 4th quarter. Key Client Fiduciary Advisors LLC now owns 8,340 shares of the technology company's stock valued at $709,000 after buying an additional 115 shares during the period. Whalen Wealth Management Inc. bought a new position in Block in the fourth quarter worth about $527,000. Mutual Advisors LLC boosted its stake in Block by 11.0% in the fourth quarter. Mutual Advisors LLC now owns 5,040 shares of the technology company's stock valued at $435,000 after acquiring an additional 498 shares during the period. Independent Wealth Network Inc. acquired a new position in Block in the fourth quarter valued at approximately $243,000. Finally, Magnus Financial Group LLC bought a new position in shares of Block during the fourth quarter valued at approximately $217,000. 70.44% of the stock is owned by institutional investors and hedge funds.

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.