Block (NYSE:SQ) Price Target Raised to $108.00 at Citigroup

Block (NYSE:SQ - Free Report) had its price objective hoisted by Citigroup from $90.00 to $108.00 in a report issued on Tuesday, MarketBeat.com reports. They currently have a buy rating on the technology company's stock.

Several other brokerages have also issued reports on SQ. Morgan Stanley increased their target price on Block from $60.00 to $65.00 and gave the stock an "underweight" rating in a research report on Wednesday, December 18th. Keefe, Bruyette & Woods lowered their price objective on Block from $105.00 to $100.00 and set a "market perform" rating for the company in a research report on Monday, January 6th. Macquarie upped their target price on shares of Block from $100.00 to $110.00 and gave the stock an "outperform" rating in a research report on Tuesday, December 10th. Sanford C. Bernstein lifted their price target on shares of Block from $90.00 to $120.00 and gave the company an "outperform" rating in a research report on Monday, December 2nd. Finally, Piper Sandler restated an "overweight" rating and issued a $83.00 price objective on shares of Block in a report on Monday, November 11th. One research analyst has rated the stock with a sell rating, five have given a hold rating and twenty-seven have assigned a buy rating to the stock. According to MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price of $97.35.

Block Trading Up 0.5 %

Shares of NYSE:SQ traded up $0.44 on Tuesday, hitting $82.45. The company had a trading volume of 5,208,851 shares, compared to its average volume of 6,993,204. The firm's 50-day simple moving average is $88.79 and its two-hundred day simple moving average is $74.23. The firm has a market capitalization of $51.10 billion, a price-to-earnings ratio of 46.32, a P/E/G ratio of 1.23 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. Block has a 1 year low of $55.00 and a 1 year high of $99.26.

Insider Transactions 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 shares were sold at an average price of $80.00, for a total value of $237,120.00. Following the completion of the transaction, the insider now directly 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 transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CAO Ajmere Dale sold 1,000 shares of the stock in a transaction on Monday, November 11th. The stock was sold at an average price of $80.00, for a total value of $80,000.00. Following the completion of the sale, the chief accounting officer now owns 88,791 shares of the company's stock, valued at $7,103,280. The trade was a 1.11 % 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 90 days. 10.49% of the stock is currently owned by insiders.

Institutional Trading of Block

Institutional investors and hedge funds have recently bought and sold shares of the stock. Southpoint Capital Advisors LP bought a new position in shares of Block during the 3rd quarter valued at approximately $114,121,000. Massachusetts Financial Services Co. MA lifted its position in Block by 770.0% during the third quarter. Massachusetts Financial Services Co. MA now owns 1,738,708 shares of the technology company's stock valued at $116,719,000 after purchasing an additional 1,538,849 shares during the last quarter. Lone Pine Capital LLC grew its stake in shares of Block by 13.9% in the 2nd quarter. Lone Pine Capital LLC now owns 7,670,523 shares of the technology company's stock worth $494,672,000 after buying an additional 934,588 shares in the last quarter. D1 Capital Partners L.P. increased its holdings in shares of Block by 76.7% in the 2nd quarter. D1 Capital Partners L.P. now owns 1,831,342 shares of the technology company's stock worth $118,103,000 after buying an additional 795,000 shares during the last quarter. Finally, Canada Pension Plan Investment Board lifted its stake in shares of Block by 1,061.0% in the 2nd quarter. Canada Pension Plan Investment Board now owns 657,667 shares of the technology company's stock valued at $42,413,000 after purchasing an additional 601,020 shares during the last quarter. 70.44% of the stock is currently owned by institutional investors.

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.