Block (NYSE:SQ) Price Target Raised to $110.00 at Macquarie

Block (NYSE:SQ) had its target price upped by equities research analysts at Macquarie from $100.00 to $110.00 in a research note issued on Tuesday,Benzinga reports. The firm presently has an “outperform” rating on the technology company’s stock. Macquarie’s price target points to a potential upside of 16.09% from the stock’s current price.

SQ has been the topic of several other research reports. Oppenheimer started coverage on Block in a research note on Tuesday, October 1st. They issued a “market perform” rating on the stock. Royal Bank of Canada reaffirmed an “outperform” rating and set a $88.00 price target on shares of Block in a report on Monday, October 21st. UBS Group reduced their price objective on shares of Block from $100.00 to $92.00 and set a “buy” rating for the company in a research note on Tuesday, August 27th. Sanford C. Bernstein lifted their target price on shares of Block from $90.00 to $120.00 and gave the company an “outperform” rating in a research note on Monday, December 2nd. Finally, Needham & Company LLC increased their price target on Block from $80.00 to $90.00 and gave the stock a “buy” rating in a research note on Friday, November 8th. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and twenty-three have given a buy rating to the company. Based on data from MarketBeat.com, Block presently has an average rating of “Moderate Buy” and an average price target of $94.21.

Block Stock Performance

Shares of NYSE:SQ traded down $0.67 during midday trading on Tuesday, hitting $94.75. The company had a trading volume of 3,843,180 shares, compared to its average volume of 8,257,451. Block has a 12-month low of $55.00 and a 12-month high of $99.26. The company has a fifty day moving average of $79.49 and a two-hundred day moving average of $69.77. The company has a market cap of $58.73 billion, a price-to-earnings ratio of 53.07, a PEG ratio of 1.31 and a beta of 2.50. The company has a debt-to-equity ratio of 0.26, a current ratio of 2.07 and a quick ratio of 2.07.

Insiders Place Their Bets

In other news, insider Brian Grassadonia sold 8,328 shares of the stock in a transaction dated Thursday, November 21st. The shares were sold at an average price of $91.18, for a total transaction of $759,347.04. Following the sale, the insider now owns 563,894 shares of the company’s stock, valued at approximately $51,415,854.92. This represents a 1.46 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CAO Ajmere Dale sold 500 shares of the stock in a transaction that occurred on Tuesday, October 1st. The stock was sold at an average price of $67.00, for a total transaction of $33,500.00. Following the sale, the chief accounting officer now owns 90,460 shares in the company, valued at approximately $6,060,820. This trade represents a 0.55 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 31,918 shares of company stock worth $2,666,147. Company insiders own 10.49% of the company’s stock.

Institutional Trading of Block

A number of large investors have recently modified their holdings of the stock. Yoder Wealth Management Inc. grew its stake in Block by 0.4% during the 3rd quarter. Yoder Wealth Management Inc. now owns 39,688 shares of the technology company’s stock worth $2,664,000 after purchasing an additional 145 shares in the last quarter. Nations Financial Group Inc. IA ADV boosted its stake in shares of Block by 1.9% in the 3rd quarter. Nations Financial Group Inc. IA ADV now owns 7,744 shares of the technology company’s stock valued at $520,000 after buying an additional 145 shares during the period. Moser Wealth Advisors LLC grew its position in shares of Block by 2.5% during the third quarter. Moser Wealth Advisors LLC now owns 6,265 shares of the technology company’s stock worth $421,000 after buying an additional 153 shares in the last quarter. Lindbrook Capital LLC increased its stake in shares of Block by 6.3% during the third quarter. Lindbrook Capital LLC now owns 2,592 shares of the technology company’s stock worth $174,000 after buying an additional 154 shares during the period. Finally, Larson Financial Group LLC raised its holdings in Block by 14.8% in the third quarter. Larson Financial Group LLC now owns 1,192 shares of the technology company’s stock valued at $80,000 after acquiring an additional 154 shares in the last quarter. Hedge funds and other institutional investors own 70.44% of the company’s stock.

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.