Block (NYSE:SQ) Shares Down 1%

Block, Inc. (NYSE:SQ - Get Free Report)'s stock price traded down 1% during mid-day trading on Thursday . The company traded as low as $64.70 and last traded at $64.97. 1,306,358 shares changed hands during mid-day trading, a decline of 85% from the average session volume of 8,716,614 shares. The stock had previously closed at $65.65.

Wall Street Analyst Weigh In

SQ has been the topic of a number of analyst reports. BMO Capital Markets lifted their price objective on shares of Block from $92.00 to $93.00 and gave the company an "outperform" rating in a research report on Friday, August 2nd. Keefe, Bruyette & Woods dropped their price target on shares of Block from $82.00 to $74.00 and set a "market perform" rating on the stock in a research note on Monday, July 8th. William Blair upgraded shares of Block to a "strong-buy" rating in a research report on Wednesday, July 31st. Morgan Stanley dropped their target price on Block from $60.00 to $55.00 and set an "underweight" rating on the stock in a research report on Tuesday, July 30th. Finally, Deutsche Bank Aktiengesellschaft boosted their target price on shares of Block from $90.00 to $98.00 and gave the stock a "buy" rating in a research report on Friday, July 12th. One analyst has rated the stock with a sell rating, six have issued a hold rating, twenty-five have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $86.20.

Block Stock Performance

The company has a debt-to-equity ratio of 0.26, a quick ratio of 1.82 and a current ratio of 1.82. The company's fifty day moving average price is $63.86 and its two-hundred day moving average price is $69.86. The firm has a market capitalization of $39.30 billion, a PE ratio of 82.91, a price-to-earnings-growth ratio of 1.15 and a beta of 2.52.

Block (NYSE:SQ - Get Free Report) last released its quarterly earnings data on Thursday, August 1st. The technology company reported $0.93 EPS for the quarter, topping 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 company had revenue of $6.16 billion for the quarter, compared to the consensus estimate of $6.27 billion. During the same period last year, the business posted $0.40 EPS. The company's quarterly revenue was up 11.2% compared to the same quarter last year. As a group, equities analysts expect that Block, Inc. will post 1.72 earnings per share for the current year.

Insider Activity at Block

In other news, CAO Ajmere Dale sold 471 shares of the company's stock in a transaction on Tuesday, July 2nd. The shares were sold at an average price of $64.37, for a total value of $30,318.27. Following the completion of the transaction, the chief accounting officer now directly owns 92,866 shares in the company, valued at $5,977,784.42. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other Block news, CFO Amrita Ahuja sold 5,277 shares of the business's stock in a transaction on Tuesday, July 2nd. The shares were sold at an average price of $64.13, for a total transaction of $338,414.01. Following the completion of the sale, the chief financial officer now owns 274,410 shares in the company, valued at $17,597,913.30. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CAO Ajmere Dale sold 471 shares of the firm's stock in a transaction dated Tuesday, July 2nd. The stock was sold at an average price of $64.37, for a total transaction of $30,318.27. Following the completion of the transaction, the chief accounting officer now owns 92,866 shares in the company, valued at $5,977,784.42. The disclosure for this sale can be found here. In the last three months, insiders sold 11,784 shares of company stock worth $772,623. Corporate insiders own 10.49% of the company's stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the business. International Assets Investment Management LLC acquired a new position in shares of Block in the 4th quarter worth $112,000,000. Allspring Global Investments Holdings LLC boosted its position in shares of Block by 11,653.8% in the fourth quarter. Allspring Global Investments Holdings LLC now owns 12,459 shares of the technology company's stock worth $964,000 after buying an additional 12,353 shares during the period. Greenleaf Trust purchased a new position in shares of Block during the fourth quarter valued at $314,000. abrdn plc lifted its stake in Block by 101.3% in the 4th quarter. abrdn plc now owns 187,858 shares of the technology company's stock worth $14,531,000 after acquiring an additional 94,537 shares in the last quarter. Finally, Signaturefd LLC lifted its stake in Block by 39.3% in the 4th quarter. Signaturefd LLC now owns 7,750 shares of the technology company's stock worth $599,000 after acquiring an additional 2,185 shares in the last quarter. Institutional investors own 70.44% of the company's stock.

Block Company Profile

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.