Procyon Advisors LLC grew its position in shares of Block, Inc. (NYSE:SQ – Free Report) by 14.4% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 25,122 shares of the technology company’s stock after acquiring an additional 3,159 shares during the period. Procyon Advisors LLC’s holdings in Block were worth $1,686,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors have also recently modified their holdings of the company. Wealthcare Advisory Partners LLC lifted its stake in shares of Block by 1.3% during the 1st quarter. Wealthcare Advisory Partners LLC now owns 10,618 shares of the technology company’s stock valued at $898,000 after buying an additional 139 shares in the last quarter. Valley National Advisers Inc. lifted its stake in shares of Block by 25.4% during the 1st quarter. Valley National Advisers Inc. now owns 765 shares of the technology company’s stock valued at $64,000 after buying an additional 155 shares in the last quarter. Financial Perspectives Inc lifted its stake in shares of Block by 7.2% during the 1st quarter. Financial Perspectives Inc now owns 2,300 shares of the technology company’s stock valued at $195,000 after buying an additional 155 shares in the last quarter. CAP Partners LLC lifted its stake in shares of Block by 3.5% during the 1st quarter. CAP Partners LLC now owns 4,765 shares of the technology company’s stock valued at $403,000 after buying an additional 163 shares in the last quarter. Finally, GAMMA Investing LLC lifted its stake in shares of Block by 17.0% during the 1st quarter. GAMMA Investing LLC now owns 1,129 shares of the technology company’s stock valued at $95,000 after buying an additional 164 shares in the last quarter. 70.44% of the stock is owned by institutional investors.
Block Trading Up 2.8 %
Shares of NYSE SQ opened at $71.67 on Tuesday. The company has a debt-to-equity ratio of 0.26, a quick ratio of 1.82 and a current ratio of 1.82. The business’s 50 day moving average price is $65.20 and its 200-day moving average price is $67.34. Block, Inc. has a fifty-two week low of $38.85 and a fifty-two week high of $87.52. The company has a market cap of $44.12 billion, a price-to-earnings ratio of 55.99, a PEG ratio of 0.93 and a beta of 2.49.
Wall Street Analyst Weigh In
SQ has been the topic of a number of analyst reports. UBS Group lowered their target price on shares of Block from $100.00 to $92.00 and set a “buy” rating on the stock in a research note on Tuesday, August 27th. Deutsche Bank Aktiengesellschaft lifted their target price on shares of Block from $90.00 to $98.00 and gave the company a “buy” rating in a research note on Friday, July 12th. William Blair upgraded shares of Block to a “strong-buy” rating in a research note on Wednesday, July 31st. Wells Fargo & Company cut their price objective on Block from $95.00 to $85.00 and set an “overweight” rating for the company in a research report on Friday, August 2nd. Finally, BMO Capital Markets dropped their price target on Block from $93.00 to $92.00 and set an “outperform” rating for the company in a research note on Thursday, October 3rd. One investment analyst has rated the stock with a sell rating, six have given a hold rating, twenty-four have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $88.79.
View Our Latest Research Report on SQ
Insider Buying and Selling
In related news, CAO Ajmere Dale sold 500 shares of the stock in a transaction that occurred on Tuesday, August 13th. The stock was sold at an average price of $61.88, for a total value of $30,940.00. Following the transaction, the chief accounting officer now owns 92,366 shares of the company’s stock, valued at $5,715,608.08. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other Block news, CAO Ajmere Dale sold 500 shares of the stock in a transaction on Tuesday, August 13th. The stock was sold at an average price of $61.88, for a total transaction of $30,940.00. Following the sale, the chief accounting officer now owns 92,366 shares of the company’s stock, valued at approximately $5,715,608.08. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Roelof Botha bought 434,405 shares of the company’s stock in a transaction on Tuesday, August 6th. The shares were bought at an average cost of $57.55 per share, for a total transaction of $25,000,007.75. Following the transaction, the director now directly owns 434,405 shares in the company, valued at approximately $25,000,007.75. The disclosure for this purchase can be found here. Insiders have sold a total of 25,214 shares of company stock valued at $1,637,932 over the last quarter. 10.49% of the stock is owned by corporate insiders.
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.
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