Block (NYSE:SQ) Upgraded to "Buy" at Monness Crespi & Hardt

Monness Crespi & Hardt upgraded shares of Block (NYSE:SQ - Free Report) from a neutral rating to a buy rating in a research report sent to investors on Friday, Marketbeat Ratings reports. They currently have $115.00 price target on the technology company's stock.

SQ has been the subject of a number of other research reports. New Street Research initiated coverage on Block in a report on Monday, September 9th. They set a "neutral" rating and a $70.00 target price for the company. Royal Bank of Canada reissued an "outperform" rating and issued a $88.00 price objective on shares of Block in a report on Monday, October 21st. UBS Group lowered their target price on shares of Block from $100.00 to $92.00 and set a "buy" rating on the stock in a report on Tuesday, August 27th. William Blair reiterated an "outperform" rating on shares of Block in a research note on Friday, November 15th. Finally, Macquarie raised their price objective on Block from $100.00 to $110.00 and gave the stock an "outperform" rating in a research note on Tuesday. One analyst has rated the stock with a sell rating, six have issued a hold rating and twenty-four have given a buy rating to the company's stock. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average price target of $94.75.

Block Stock Performance

Shares of NYSE:SQ traded down $2.13 on Friday, hitting $91.98. The company had a trading volume of 8,351,614 shares, compared to its average volume of 8,272,736. Block has a 1-year low of $55.00 and a 1-year high of $99.26. The stock has a market cap of $57.01 billion, a price-to-earnings ratio of 51.66, a P/E/G ratio of 1.31 and a beta of 2.50. The stock has a 50 day moving average price of $81.79 and a 200 day moving average price of $70.50. The company has a current ratio of 2.07, a quick ratio of 2.07 and a debt-to-equity ratio of 0.26.

Insider Activity

In other news, insider Brian Grassadonia sold 1,884 shares of the firm's stock in a transaction dated 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 directly owns 574,914 shares in the company, valued at $37,605,124.74. This trade represents a 0.33 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CAO Ajmere Dale sold 500 shares of the company's stock in a transaction that occurred on Tuesday, October 1st. The shares were sold at an average price of $67.00, for a total value of $33,500.00. Following the completion of the sale, the chief accounting officer now owns 90,460 shares in the company, valued at $6,060,820. The trade was a 0.55 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 31,918 shares of company stock valued at $2,666,147 over the last quarter. 10.49% of the stock is owned by company insiders.

Institutional Investors Weigh In On Block

Large investors have recently modified their holdings of the company. SouthState Corp grew its position in shares of Block by 85.3% during the 3rd quarter. SouthState Corp now owns 391 shares of the technology company's stock worth $26,000 after buying an additional 180 shares during the period. True Wealth Design LLC increased its stake in Block by 64.7% during the 3rd quarter. True Wealth Design LLC now owns 494 shares of the technology company's stock valued at $33,000 after purchasing an additional 194 shares in the last quarter. Unique Wealth Strategies LLC acquired a new stake in shares of Block in the 2nd quarter worth about $34,000. V Square Quantitative Management LLC bought a new stake in Block during the 3rd quarter worth approximately $46,000. Finally, Migdal Insurance & Financial Holdings Ltd. purchased a new position in shares of Block during the second quarter valued at approximately $44,000. 70.44% of the stock is currently 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.