Block (NYSE:SQ) Shares Down 1%

Block, Inc. (NYSE:SQ - Get Free Report) shares dropped 1% during mid-day trading on Friday . The company traded as low as $65.60 and last traded at $65.75. Approximately 1,154,222 shares were traded during trading, a decline of 87% from the average daily volume of 8,587,340 shares. The stock had previously closed at $66.42.

Analyst Upgrades and Downgrades

SQ has been the subject of a number of research reports. Susquehanna reissued a "positive" rating and set a $100.00 price objective on shares of Block in a research report on Wednesday, June 26th. Wedbush restated an "outperform" rating and set a $90.00 target price on shares of Block in a report on Friday, May 3rd. Citigroup raised their target price on Block from $86.00 to $90.00 and gave the company a "buy" rating in a report on Monday, May 6th. UBS Group cut their target price on Block from $100.00 to $92.00 and set a "buy" rating on the stock in a report on Tuesday. Finally, The Goldman Sachs Group restated a "buy" rating and set a $80.00 target price on shares of Block in a report on Monday, June 24th. One equities research analyst has rated the stock with a sell rating, five have assigned 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 stock currently has an average rating of "Moderate Buy" and a consensus target price of $87.52.

Block Stock Down 0.5 %

The firm has a market capitalization of $40.68 billion, a price-to-earnings ratio of 85.81, a P/E/G ratio of 1.15 and a beta of 2.52. The company has a current ratio of 1.82, a quick ratio of 1.82 and a debt-to-equity ratio of 0.26. The firm has a fifty day moving average price of $64.27 and a 200 day moving average price of $69.79.

Block (NYSE:SQ - Get Free Report) last announced its earnings results on Thursday, August 1st. The technology company reported $0.93 EPS for the quarter, topping the consensus estimate of $0.84 by $0.09. The business had revenue of $6.16 billion for the quarter, compared to the consensus estimate of $6.27 billion. Block had a return on equity of 3.77% and a net margin of 3.47%. Block's revenue was up 11.2% compared to the same quarter last year. During the same period in the previous year, the business earned $0.40 EPS. Sell-side analysts anticipate that Block, Inc. will post 1.72 EPS for the current fiscal year.

Insider Buying and Selling

In other Block news, insider Brian Grassadonia sold 1,889 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 transaction of $121,594.93. Following the completion of the sale, the insider now owns 590,761 shares in the company, valued at approximately $38,027,285.57. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Block news, insider Brian Grassadonia sold 1,889 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 transaction of $121,594.93. Following the completion of the sale, the insider now owns 590,761 shares in the company, valued at approximately $38,027,285.57. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, 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 transaction of $30,318.27. Following the sale, the chief accounting officer now owns 92,866 shares of the company's stock, valued at approximately $5,977,784.42. The disclosure for this sale can be found here. Insiders sold 28,179 shares of company stock worth $1,833,962 in the last quarter. Insiders own 10.49% of the company's stock.

Institutional Trading of Block

Large investors have recently made changes to their positions in the company. Riverview Trust Co acquired a new position in Block in the 1st quarter worth $28,000. Montag A & Associates Inc. boosted its stake in shares of Block by 843.2% during the 4th quarter. Montag A & Associates Inc. now owns 349 shares of the technology company's stock worth $27,000 after buying an additional 312 shares during the last quarter. YHB Investment Advisors Inc. acquired a new position in shares of Block during the 1st quarter worth about $33,000. LRI Investments LLC acquired a new position in shares of Block during the 1st quarter worth about $34,000. Finally, Tidemark LLC acquired a new position in shares of Block during the 4th quarter worth about $32,000. 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.