Ajmere Dale Sells 2,044 Shares of Block, Inc. (NYSE:SQ) Stock

Ajmere Dale, the Chief Accounting Officer (CAO) of Block, Inc. (NYSE:SQ - Get Free Report), executed a stock sale involving 2,044 shares on January 2nd. The shares were sold at an average price of $86.72, providing a total worth of $177,255.68. Following this transaction, Dale retains ownership of 83,966 shares of Block, valued at approximately $7,281,531.52. This recent sale represents a decrease of 2.38% in Dale's holdings.

The transaction was formally reported in a legal filing with the Securities and Exchange Commission (SEC), which can be found on the SEC’s official website.

Block Inc. Market Overview

As of January 2nd, the stock of Block, Inc. opened at $92.01. The company holds a market capitalization of $57.03 billion, with a price-to-earnings ratio of 51.69, and a price-to-earnings-growth ratio of 1.23. Block's beta stands at 2.51, indicating higher volatility compared to the market. The company has a quick ratio and current ratio both at 2.07, and a debt-to-equity ratio of 0.26. Its 50-day moving average is $87.55, while the two-hundred-day moving average is $73.48. Over the past year, Block’s stock has seen a low of $55.00 and a high of $99.26.

Recent Analyst Ratings

A number of analysts recently adjusted their ratings for Block, Inc. Canaccord Genuity Group raised their price target from $95.00 to $120.00, rating the stock as a "buy." New Street Research initiated coverage with a "neutral" rating and a price target of $70.00. Barclays also increased their price target from $100.00 to $112.00 and maintained an "overweight" rating. Royal Bank of Canada reaffirmed a rating of "outperform," setting a target price of $88.00. Additionally, BMO Capital Markets downgraded Block from "outperform" to "market perform," while raising their target price from $94.00 to $100.00. Presently, one analyst has rated the stock as a sell, five have a hold rating, and twenty-seven have assigned it a buy rating. The stock has an average rating of "Moderate Buy" with a consensus target price of $96.77 according to MarketBeat.com.

Institutional Trading Activity

Recent activities by institutional investors indicate a high interest in Block, Inc. Southpoint Capital Advisors LP acquired a new stake worth $114,121,000 in the third quarter. Massachusetts Financial Services Co. MA significantly increased its holdings in Block by 770%, now owning 1,738,708 shares valued at $116,719,000 after an additional purchase of 1,538,849 shares. Furthermore, Lone Pine Capital LLC and D1 Capital Partners L.P. also expanded their stakes, with Lone Pine acquiring an extra 934,588 shares, now totaling 7,670,523 shares valued at $494,672,000. Meanwhile, Canada Pension Plan Investment Board increased its holdings by 1,061%, ending up with 657,667 shares worth $42,413,000. Currently, hedge funds and institutional investors hold around 70.44% of Block's stock.

About Block, Inc.

Block, Inc. offers payment and point-of-sale solutions both domestically and internationally. The company provides a commerce ecosystem that enables sellers to use mobile and computing devices for payment and point-of-sale transactions. Their hardware lineup includes devices like Magstripe readers, chip card readers, Square Stand, and Square Register.

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