Atlanta Consulting Group Advisors LLC Invests $216,000 in Block, Inc. (NYSE:SQ)

Atlanta Consulting Group Advisors LLC acquired a new stake in Block, Inc. (NYSE:SQ) in the third quarter, Holdings Channel reports. The institutional investor acquired 3,222 shares of the technology company’s stock, valued at approximately $216,000.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. LRI Investments LLC bought a new stake in Block in the first quarter valued at about $34,000. Unique Wealth Strategies LLC bought a new stake in Block in the second quarter valued at about $34,000. Migdal Insurance & Financial Holdings Ltd. bought a new stake in Block in the second quarter valued at about $44,000. V Square Quantitative Management LLC bought a new stake in Block in the third quarter valued at about $46,000. Finally, Hobbs Group Advisors LLC bought a new stake in Block in the second quarter valued at about $49,000. Institutional investors own 70.44% of the company’s stock.

Analyst Ratings Changes

SQ has been the subject of a number of recent analyst reports. Canaccord Genuity Group upped their price objective on Block from $95.00 to $120.00 and gave the company a “buy” rating in a report on Tuesday, November 12th. Piper Sandler reissued an “overweight” rating and issued a $83.00 target price on shares of Block in a research note on Monday, November 11th. BMO Capital Markets decreased their target price on Block from $93.00 to $92.00 and set an “outperform” rating for the company in a research note on Thursday, October 3rd. Benchmark reissued a “buy” rating and issued a $99.00 target price on shares of Block in a research note on Friday, August 2nd. Finally, UBS Group decreased their target price on Block from $100.00 to $92.00 and set a “buy” rating for the company in a research note on Tuesday, August 27th. One research analyst has rated the stock with a sell rating, five have issued a hold rating and twenty-four have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Block presently has an average rating of “Moderate Buy” and an average target price of $91.30.

Block Stock Performance

Shares of NYSE SQ opened at $84.30 on Monday. Block, Inc. has a 52 week low of $55.00 and a 52 week high of $90.00. The stock has a market capitalization of $51.90 billion, a PE ratio of 47.36, a price-to-earnings-growth ratio of 1.14 and a beta of 2.48. The stock has a 50 day moving average price of $70.94 and a 200 day moving average price of $67.36. The company has a debt-to-equity ratio of 0.26, a quick ratio of 2.07 and a current ratio of 2.07.

Insider Transactions at Block

In other news, CAO Ajmere Dale sold 1,406 shares of Block stock in a transaction that occurred on Wednesday, August 21st. The stock was sold at an average price of $64.70, for a total transaction of $90,968.20. Following the completion of the transaction, the chief accounting officer now directly owns 90,960 shares in the company, valued at approximately $5,885,112. The trade was a 1.52 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Brian Grassadonia sold 8,328 shares of Block stock in a transaction that occurred on Wednesday, August 21st. The stock was sold at an average price of $64.77, for a total value of $539,404.56. Following the transaction, the insider now owns 580,086 shares of the company’s stock, valued at $37,572,170.22. This represents a 1.42 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 28,678 shares of company stock worth $1,924,112. 10.49% of the stock is owned by company 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.