Block (NYSE:SQ) Downgraded by Oppenheimer

Block (NYSE:SQGet Rating) was downgraded by Oppenheimer from an “outperform” rating to a “market perform” rating in a report issued on Wednesday, The Fly reports.

Other research analysts also recently issued research reports about the stock. UBS Group dropped their target price on shares of Block from $104.00 to $100.00 and set a “buy” rating on the stock in a report on Thursday, December 15th. Morgan Stanley decreased their target price on shares of Block from $67.00 to $66.00 and set an “equal weight” rating on the stock in a research report on Thursday, December 8th. Needham & Company LLC decreased their target price on shares of Block from $120.00 to $80.00 and set a “buy” rating on the stock in a research report on Friday, November 4th. DA Davidson decreased their target price on shares of Block to $130.00 in a research report on Monday, November 21st. Finally, Truist Financial lifted their target price on shares of Block from $85.00 to $105.00 and gave the company a “buy” rating in a research report on Friday, January 20th. Two investment analysts have rated the stock with a sell rating, six have assigned a hold rating and thirty-two have issued a buy rating to the stock. According to data from MarketBeat.com, Block currently has a consensus rating of “Moderate Buy” and an average price target of $113.08.

Block Trading Down 1.1 %

Shares of NYSE:SQ opened at $80.79 on Wednesday. The firm has a fifty day moving average of $66.39 and a two-hundred day moving average of $66.82. The firm has a market capitalization of $48.32 billion, a P/E ratio of -86.87, a price-to-earnings-growth ratio of 61.40 and a beta of 2.35. Block has a 12-month low of $51.34 and a 12-month high of $149.00. The company has a quick ratio of 1.86, a current ratio of 1.86 and a debt-to-equity ratio of 0.25.

Block (NYSE:SQGet Rating) last issued its earnings results on Thursday, November 3rd. The technology company reported $0.01 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.15) by $0.16. The company had revenue of $4.52 billion during the quarter, compared to analyst estimates of $4.48 billion. Block had a negative net margin of 2.97% and a negative return on equity of 2.10%. On average, equities analysts expect that Block will post -0.67 EPS for the current fiscal year.

Insiders Place Their Bets

In other Block news, insider Alyssa Henry sold 30,769 shares of the firm’s stock in a transaction dated Wednesday, November 2nd. The stock was sold at an average price of $58.46, for a total value of $1,798,755.74. Following the transaction, the insider now directly owns 422,615 shares of the company’s stock, valued at $24,706,072.90. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, CFO Amrita Ahuja sold 3,820 shares of Block stock in a transaction dated Wednesday, November 2nd. The stock was sold at an average price of $58.86, for a total transaction of $224,845.20. Following the transaction, the chief financial officer now directly owns 144,010 shares of the company’s stock, valued at approximately $8,476,428.60. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Alyssa Henry sold 30,769 shares of Block stock in a transaction dated Wednesday, November 2nd. The shares were sold at an average price of $58.46, for a total value of $1,798,755.74. Following the transaction, the insider now directly owns 422,615 shares in the company, valued at $24,706,072.90. The disclosure for this sale can be found here. Over the last three months, insiders have sold 287,537 shares of company stock valued at $18,528,646. Insiders own 11.52% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in SQ. O Dell Group LLC raised its stake in Block by 9.9% during the 2nd quarter. O Dell Group LLC now owns 1,448 shares of the technology company’s stock valued at $89,000 after purchasing an additional 130 shares during the period. White Knight Strategic Wealth Advisors LLC increased its stake in Block by 1.7% in the 2nd quarter. White Knight Strategic Wealth Advisors LLC now owns 8,856 shares of the technology company’s stock worth $544,000 after acquiring an additional 150 shares during the last quarter. Meiji Yasuda Life Insurance Co increased its stake in Block by 3.4% in the 2nd quarter. Meiji Yasuda Life Insurance Co now owns 5,109 shares of the technology company’s stock worth $314,000 after acquiring an additional 170 shares during the last quarter. Coastal Investment Advisors Inc. increased its stake in Block by 1.0% in the 3rd quarter. Coastal Investment Advisors Inc. now owns 17,038 shares of the technology company’s stock worth $937,000 after acquiring an additional 174 shares during the last quarter. Finally, Regal Investment Advisors LLC increased its stake in Block by 1.6% in the 3rd quarter. Regal Investment Advisors LLC now owns 11,648 shares of the technology company’s stock worth $641,000 after acquiring an additional 185 shares during the last quarter. 59.49% of the stock is owned by hedge funds and other institutional investors.

Block Company Profile

(Get Rating)

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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