Block, Inc. (NYSE:SQ – Get Rating) CFO Amrita Ahuja sold 3,820 shares of Block stock in a transaction that occurred on Tuesday, August 2nd. The stock was sold at an average price of $78.89, for a total transaction of $301,359.80. Following the completion of the sale, the chief financial officer now directly owns 151,829 shares of the company’s stock, valued at approximately $11,977,789.81. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website.

Amrita Ahuja also recently made the following trade(s):

• On Tuesday, July 5th, Amrita Ahuja sold 4,029 shares of Block stock. The stock was sold at an average price of $62.63, for a total transaction of $252,336.27.

Block Stock Performance

Block stock opened at $87.73 on Friday. The company’s 50-day moving average price is $71.37 and its 200-day moving average price is $96.86. Block, Inc. has a twelve month low of $56.01 and a twelve month high of $286.52. The company has a quick ratio of 1.97, a current ratio of 1.97 and a debt-to-equity ratio of 0.26. The company has a market cap of $50.89 billion, a PE ratio of -584.83 and a beta of 2.45.

Block (NYSE:SQ – Get Rating) last posted its earnings results on Thursday, August 4th. The technology company reported $0.18 earnings per share for the quarter, topping analysts’ consensus estimates of $0.17 by $0.01. Block had a negative net margin of 0.46% and a positive return on equity of 0.74%. The firm had revenue of $4.41 billion for the quarter, compared to the consensus estimate of $4.33 billion. During the same period in the previous year, the firm posted $0.38 EPS. The business’s quarterly revenue was down 5.8% on a year-over-year basis. On average, equities research analysts forecast that Block, Inc. will post -0.77 EPS for the current fiscal year.

Hedge Funds Weigh In On Block

Several hedge funds have recently added to or reduced their stakes in the company. State Board of Administration of Florida Retirement System grew its holdings in Block by 6.2% during the 2nd quarter. State Board of Administration of Florida Retirement System now owns 582,099 shares of the technology company’s stock valued at $35,776,000 after purchasing an additional 33,913 shares during the last quarter. WJ Wealth Management LLC grew its holdings in Block by 30.0% during the 2nd quarter. WJ Wealth Management LLC now owns 4,130 shares of the technology company’s stock valued at $253,000 after purchasing an additional 953 shares during the last quarter. M&T Bank Corp boosted its position in Block by 14.3% in the 2nd quarter. M&T Bank Corp now owns 61,232 shares of the technology company’s stock valued at $3,527,000 after buying an additional 7,654 shares during the period. Parnassus Investments LLC boosted its position in Block by 40.9% in the 2nd quarter. Parnassus Investments LLC now owns 266,947 shares of the technology company’s stock valued at $16,407,000 after buying an additional 77,473 shares during the period. Finally, Illinois Municipal Retirement Fund boosted its position in Block by 68.3% in the 2nd quarter. Illinois Municipal Retirement Fund now owns 10,899 shares of the technology company’s stock valued at $670,000 after buying an additional 4,424 shares during the period. 54.56% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of research firms have commented on SQ. Truist Financial cut their target price on shares of Block from $145.00 to $105.00 and set a “buy” rating for the company in a research report on Thursday, June 30th. The Goldman Sachs Group dropped their price target on shares of Block from $173.00 to $152.00 and set a “buy” rating on the stock in a research note on Monday, May 9th. Wolfe Research dropped their price target on shares of Block from $90.00 to $85.00 in a research note on Wednesday, July 20th. Citigroup dropped their price target on shares of Block from $185.00 to $135.00 in a research note on Tuesday, July 26th. Finally, Cowen dropped their price target on shares of Block from $188.00 to $148.00 in a research note on Friday, May 6th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and thirty-five have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $156.93.

About Block

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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.

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