Block, Inc. (NYSE:SQ) Shares Bought by Apollon Wealth Management LLC

Apollon Wealth Management LLC lifted its stake in Block, Inc. (NYSE:SQ) by 9.0% during the third quarter, Holdings Channel reports. The institutional investor owned 9,392 shares of the technology company’s stock after acquiring an additional 773 shares during the quarter. Apollon Wealth Management LLC’s holdings in Block were worth $630,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Nations Financial Group Inc. IA ADV grew its stake in shares of Block by 1.9% during the 3rd quarter. Nations Financial Group Inc. IA ADV now owns 7,744 shares of the technology company’s stock worth $520,000 after purchasing an additional 145 shares during the period. Ashton Thomas Securities LLC increased its holdings in Block by 10.7% in the third quarter. Ashton Thomas Securities LLC now owns 4,608 shares of the technology company’s stock valued at $309,000 after buying an additional 445 shares in the last quarter. Los Angeles Capital Management LLC raised its position in shares of Block by 1.7% in the third quarter. Los Angeles Capital Management LLC now owns 276,836 shares of the technology company’s stock worth $18,584,000 after acquiring an additional 4,525 shares during the period. River Global Investors LLP boosted its stake in shares of Block by 4.0% during the 3rd quarter. River Global Investors LLP now owns 27,057 shares of the technology company’s stock worth $1,816,000 after acquiring an additional 1,030 shares in the last quarter. Finally, Tyler Stone Wealth Management grew its position in shares of Block by 98.2% during the 3rd quarter. Tyler Stone Wealth Management now owns 5,390 shares of the technology company’s stock valued at $362,000 after acquiring an additional 2,670 shares during the period. 70.44% of the stock is owned by institutional investors and hedge funds.

Block Stock Performance

Shares of Block stock opened at $84.30 on Friday. The firm has a market cap of $51.90 billion, a PE ratio of 47.36, a price-to-earnings-growth ratio of 1.16 and a beta of 2.48. The company has a quick ratio of 2.07, a current ratio of 2.07 and a debt-to-equity ratio of 0.26. Block, Inc. has a 52 week low of $55.00 and a 52 week high of $90.00. The business’s fifty day simple moving average is $70.94 and its 200-day simple moving average is $67.39.

Insider Activity at Block

In related news, insider Brian Grassadonia sold 8,328 shares of the stock in a transaction dated Wednesday, August 21st. The stock was sold at an average price of $64.77, for a total transaction of $539,404.56. Following the transaction, the insider now owns 580,086 shares of the company’s stock, valued at approximately $37,572,170.22. This represents a 1.42 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CAO Ajmere Dale sold 500 shares of Block stock in a transaction dated Tuesday, October 1st. The shares were sold at an average price of $67.00, for a total value of $33,500.00. Following the completion of the transaction, the chief accounting officer now directly owns 90,460 shares of the company’s stock, valued at approximately $6,060,820. This represents a 0.55 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 28,678 shares of company stock worth $1,924,112. Company insiders own 10.49% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on SQ shares. Canaccord Genuity Group upped their price target on Block from $95.00 to $120.00 and gave the stock a “buy” rating in a report on Tuesday, November 12th. Needham & Company LLC upped their target price on Block from $80.00 to $90.00 and gave the stock a “buy” rating in a research note on Friday, November 8th. Keefe, Bruyette & Woods lifted their price target on shares of Block from $71.00 to $80.00 and gave the company a “market perform” rating in a research note on Friday, November 8th. New Street Research started coverage on shares of Block in a research report on Monday, September 9th. They set a “neutral” rating and a $70.00 price objective for the company. Finally, Oppenheimer started coverage on shares of Block in a research report on Tuesday, October 1st. They issued a “market perform” rating on the stock. One research analyst has rated the stock with a sell rating, five have given a hold rating and twenty-four have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $91.30.

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.