Block (NYSE:SQ) Price Target Cut to $101.00 by Analysts at BMO Capital Markets

Block (NYSE:SQ – Get Rating) had its target price trimmed by BMO Capital Markets from $108.00 to $101.00 in a research report released on Monday morning, The Fly reports.

Several other equities analysts also recently commented on the stock. BTIG Research lowered their price objective on shares of Block from $175.00 to $100.00 in a research note on Friday, November 4th. Citigroup cut their price objective on shares of Block from $135.00 to $90.00 and set a buy rating on the stock in a report on Wednesday, December 21st. Jefferies Financial Group restated a buy rating and issued a $85.00 price objective on shares of Block in a report on Friday, November 18th. Truist Financial upped their price objective on shares of Block from $85.00 to $105.00 and gave the stock a buy rating in a report on Friday, January 20th. Finally, Canaccord Genuity Group restated a buy rating and issued a $150.00 price objective on shares of Block in a report on Friday. Two investment analysts have rated the stock with a sell rating, six have given a hold rating and twenty-three have issued a buy rating to the stock. According to MarketBeat, the company currently has an average rating of Moderate Buy and an average price target of $107.19.

Block Stock Down 2.9 %

Shares of NYSE:SQ opened at $75.14 on Monday. The company has a 50-day moving average price of $73.25 and a 200-day moving average price of $67.51. The company has a quick ratio of 1.85, a current ratio of 1.85 and a debt-to-equity ratio of 0.24. Block has a 12 month low of $51.34 and a 12 month high of $149.00.

Insider Transactions at Block

In other news, CAO Ajmere Dale sold 1,032 shares of the stock in a transaction on Tuesday, January 3rd. The shares were sold at an average price of $64.28, for a total value of $66,336.96. Following the completion of the sale, the chief accounting officer now directly owns 46,892 shares of the company’s stock, valued at $3,014,217.76. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. In other news, CAO Ajmere Dale sold 1,032 shares of the stock in a transaction on Tuesday, January 3rd. The shares were sold at an average price of $64.28, for a total value of $66,336.96. Following the completion of the sale, the chief accounting officer now directly owns 46,892 shares of the company’s stock, valued at $3,014,217.76. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Sivan Whiteley sold 2,716 shares of the stock in a transaction on Tuesday, January 3rd. The stock was sold at an average price of $64.28, for a total transaction of $174,584.48. Following the completion of the sale, the insider now directly owns 105,400 shares of the company’s stock, valued at $6,775,112. The disclosure for this sale can be found here. Insiders sold a total of 272,698 shares of company stock valued at $19,465,562 over the last three months. Corporate insiders own 11.52% of the company’s stock.

Hedge Funds Weigh In On Block

Several institutional investors have recently bought and sold shares of SQ. Fisher Asset Management LLC grew its stake in Block by 148.7% during the fourth quarter. Fisher Asset Management LLC now owns 11,359,972 shares of the technology company’s stock valued at $713,861,000 after acquiring an additional 6,791,842 shares in the last quarter. Norges Bank purchased a new position in Block during the fourth quarter valued at $353,954,000. Tiger Global Management LLC grew its stake in Block by 299.9% during the third quarter. Tiger Global Management LLC now owns 3,799,271 shares of the technology company’s stock valued at $208,922,000 after acquiring an additional 2,849,243 shares in the last quarter. Renaissance Technologies LLC purchased a new position in Block during the second quarter valued at $157,768,000. Finally, Echo Street Capital Management LLC grew its stake in Block by 133.3% during the fourth quarter. Echo Street Capital Management LLC now owns 2,353,238 shares of the technology company’s stock valued at $147,877,000 after acquiring an additional 1,344,567 shares in the last quarter. 59.49% of the stock is owned by hedge funds and other institutional investors.

Block Company Profile

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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.