Procyon Advisors LLC Increases Stock Position in Block, Inc. (NYSE:SQ)

Procyon Advisors LLC grew its stake in Block, Inc. (NYSE:SQ) by 4.7% during the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 26,305 shares of the technology company’s stock after acquiring an additional 1,183 shares during the period. Procyon Advisors LLC’s holdings in Block were worth $2,236,000 as of its most recent filing with the SEC.

Several other large investors have also recently made changes to their positions in the stock. Yoder Wealth Management Inc. increased its holdings in Block by 0.4% in the 3rd quarter. Yoder Wealth Management Inc. now owns 39,688 shares of the technology company’s stock valued at $2,664,000 after purchasing an additional 145 shares during the last quarter. Nations Financial Group Inc. IA ADV boosted its position in shares of Block by 1.9% during the third quarter. Nations Financial Group Inc. IA ADV now owns 7,744 shares of the technology company’s stock worth $520,000 after buying an additional 145 shares during the period. Wealth Enhancement Advisory Services LLC grew its stake in shares of Block by 0.5% in the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 26,864 shares of the technology company’s stock valued at $2,283,000 after buying an additional 145 shares in the last quarter. Rosenberg Matthew Hamilton raised its holdings in shares of Block by 18.3% in the 4th quarter. Rosenberg Matthew Hamilton now owns 982 shares of the technology company’s stock valued at $83,000 after buying an additional 152 shares during the period. Finally, Moser Wealth Advisors LLC lifted its stake in Block by 2.5% during the 3rd quarter. Moser Wealth Advisors LLC now owns 6,265 shares of the technology company’s stock worth $421,000 after acquiring an additional 153 shares in the last quarter. 70.44% of the stock is currently owned by institutional investors and hedge funds.

Block Trading Up 0.7 %

NYSE SQ opened at $87.00 on Friday. The firm’s fifty day moving average is $89.61 and its two-hundred day moving average is $74.68. Block, Inc. has a one year low of $55.00 and a one year high of $99.26. The company has a debt-to-equity ratio of 0.26, a quick ratio of 2.07 and a current ratio of 2.07. The firm has a market cap of $53.92 billion, a PE ratio of 48.88, a P/E/G ratio of 0.75 and a beta of 2.51.

Insider Activity at Block

In related news, insider Chrysty Esperanza sold 2,964 shares of the stock in a transaction dated Monday, November 11th. The shares were sold at an average price of $80.00, for a total transaction of $237,120.00. Following the completion of the transaction, the insider now directly owns 88,607 shares of the company’s stock, valued at $7,088,560. This represents a 3.24 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, CAO Ajmere Dale sold 1,000 shares of the firm’s stock in a transaction dated Monday, November 11th. The shares were sold at an average price of $80.00, for a total transaction of $80,000.00. Following the completion of the sale, the chief accounting officer now owns 88,791 shares of the company’s stock, valued at approximately $7,103,280. The trade was a 1.11 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 29,981 shares of company stock worth $2,681,185 in the last quarter. Company insiders own 10.49% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have weighed in on the company. BMO Capital Markets downgraded Block from an “outperform” rating to a “market perform” rating and lifted their target price for the company from $94.00 to $100.00 in a research report on Monday, November 25th. Keefe, Bruyette & Woods dropped their price objective on shares of Block from $105.00 to $100.00 and set a “market perform” rating for the company in a report on Monday, January 6th. Sanford C. Bernstein upped their target price on shares of Block from $90.00 to $120.00 and gave the stock an “outperform” rating in a research note on Monday, December 2nd. Macquarie raised their price target on shares of Block from $100.00 to $110.00 and gave the company an “outperform” rating in a research report on Tuesday, December 10th. Finally, Oppenheimer raised Block from a “market perform” rating to an “outperform” rating and set a $115.00 price objective on the stock in a research report on Thursday, December 19th. One investment analyst has rated the stock with a sell rating, five have given a hold rating and twenty-seven have given a buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $97.68.

Block Profile

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.