Great Valley Advisor Group Inc. Lowers Stock Position in Block, Inc. (NYSE:SQ)

Great Valley Advisor Group Inc. decreased its position in Block, Inc. (NYSE:SQ - Free Report) by 22.7% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 50,478 shares of the technology company's stock after selling 14,833 shares during the quarter. Great Valley Advisor Group Inc.'s holdings in Block were worth $3,389,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Gamco Investors INC. ET AL purchased a new position in Block during the first quarter valued at $248,000. LRI Investments LLC purchased a new position in shares of Block in the 1st quarter worth about $63,000. SVB Wealth LLC boosted its stake in Block by 5.6% in the 1st quarter. SVB Wealth LLC now owns 4,960 shares of the technology company's stock worth $420,000 after purchasing an additional 261 shares in the last quarter. Interval Partners LP lifted its stake in shares of Block by 2,957.1% in the first quarter. Interval Partners LP now owns 10,000 shares of the technology company's stock worth $846,000 after buying an additional 10,350 shares in the last quarter. Finally, B. Riley Wealth Advisors Inc. raised its holdings in Block by 8.9% in the 1st quarter. B. Riley Wealth Advisors Inc. now owns 13,827 shares of the technology company's stock worth $1,169,000 after acquiring an additional 1,132 shares during the last quarter. Hedge funds and other institutional investors own 70.44% of the company's stock.

Insider Activity at Block

In other news, CAO Ajmere Dale sold 500 shares of Block stock in a transaction on Tuesday, October 1st. The stock was sold at an average price of $67.00, for a total transaction of $33,500.00. Following the transaction, the chief accounting officer now owns 90,460 shares in the company, valued at $6,060,820. The trade was a 0.55 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Brian Grassadonia sold 1,884 shares of the company's stock in a transaction dated Wednesday, October 2nd. The shares were sold at an average price of $65.41, for a total transaction of $123,232.44. Following the completion of the sale, the insider now directly owns 574,914 shares of the company's stock, valued at $37,605,124.74. This represents a 0.33 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 12,283 shares of company stock valued at $862,773 in the last ninety days. Corporate insiders own 10.49% of the company's stock.

Wall Street Analyst Weigh In

Several research firms recently commented on SQ. Needham & Company LLC increased their price objective on Block from $80.00 to $90.00 and gave the company a "buy" rating in a research report on Friday, November 8th. William Blair reissued an "outperform" rating on shares of Block in a report on Friday, November 15th. BNP Paribas cut shares of Block from an "outperform" rating to a "neutral" rating and set a $88.00 target price on the stock. in a report on Wednesday, November 20th. Oppenheimer began coverage on shares of Block in a research note on Tuesday, October 1st. They set a "market perform" rating for the company. Finally, Canaccord Genuity Group increased their price target on Block from $95.00 to $120.00 and gave the company a "buy" rating in a report on Tuesday, November 12th. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and twenty-three have assigned a buy rating to the company. According to data from MarketBeat.com, Block has an average rating of "Moderate Buy" and a consensus price target of $91.46.

Block Stock Down 1.6 %

Block stock traded down $1.47 during mid-day trading on Monday, reaching $90.79. 11,098,508 shares of the company were exchanged, compared to its average volume of 8,247,609. 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 $56.27 billion, a P/E ratio of 50.74, a PEG ratio of 1.24 and a beta of 2.48. The business has a fifty day moving average of $73.83 and a 200 day moving average of $68.07. Block, Inc. has a 12-month low of $55.00 and a 12-month high of $94.12.

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.