Soltis Investment Advisors LLC Buys Shares of 3,017 Block, Inc. $XYZ

Soltis Investment Advisors LLC purchased a new position in shares of Block, Inc. (NYSE:XYZ) during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund purchased 3,017 shares of the technology company’s stock, valued at approximately $205,000.

Other institutional investors also recently made changes to their positions in the company. S Bank Fund Management Ltd acquired a new position in shares of Block during the second quarter valued at approximately $92,000. Praxis Investment Management Inc. bought a new position in Block during the 2nd quarter valued at $508,000. Nordea Investment Management AB bought a new position in Block during the 2nd quarter valued at $3,105,000. SilverOak Wealth Management LLC acquired a new position in shares of Block during the 2nd quarter valued at $218,000. Finally, Private Trust Co. NA bought a new stake in shares of Block in the 2nd quarter worth $94,000. 70.44% of the stock is owned by institutional investors and hedge funds.

Block Stock Performance

Shares of XYZ opened at $65.49 on Friday. The company has a 50-day moving average of $75.80 and a two-hundred day moving average of $69.89. The stock has a market cap of $39.92 billion, a price-to-earnings ratio of 13.20, a PEG ratio of 2.67 and a beta of 2.73. The company has a debt-to-equity ratio of 0.16, a current ratio of 1.96 and a quick ratio of 1.96. Block, Inc. has a one year low of $44.27 and a one year high of $99.26.

Block (NYSE:XYZ) last released its quarterly earnings results on Thursday, November 6th. The technology company reported $0.54 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.25 by $0.29. Block had a net margin of 12.99% and a return on equity of 8.49%. The business had revenue of $6.11 billion for the quarter. During the same quarter in the prior year, the firm earned $0.53 EPS. The firm’s revenue was up 2.3% compared to the same quarter last year. On average, equities research analysts expect that Block, Inc. will post 2.54 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on XYZ. Keefe, Bruyette & Woods raised their target price on Block from $80.00 to $95.00 and gave the company an “outperform” rating in a research note on Friday, August 8th. BNP Paribas lowered shares of Block from a “strong-buy” rating to a “hold” rating and set a $86.00 price objective for the company. in a research report on Tuesday, September 2nd. Needham & Company LLC dropped their target price on shares of Block from $100.00 to $80.00 and set a “buy” rating on the stock in a report on Friday. Raymond James Financial reissued an “outperform” rating and set a $95.00 target price (up from $79.00) on shares of Block in a research note on Friday, August 8th. Finally, Mizuho raised their target price on shares of Block from $71.00 to $88.00 and gave the stock an “outperform” rating in a report on Thursday, August 14th. Four investment analysts have rated the stock with a Strong Buy rating, twenty-two have given a Buy rating, nine have issued a Hold rating and three have issued a Sell rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $82.58.

Insider Buying and Selling

In other news, insider Owen Britton Jennings sold 1,050 shares of the firm’s stock in a transaction on Thursday, October 2nd. The stock was sold at an average price of $74.77, for a total value of $78,508.50. Following the completion of the sale, the insider owned 253,956 shares of the company’s stock, valued at $18,988,290.12. This trade represents a 0.41% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, CFO Amrita Ahuja sold 1,276 shares of the company’s stock in a transaction on Friday, October 3rd. The shares were sold at an average price of $76.69, for a total value of $97,856.44. Following the transaction, the chief financial officer directly owned 282,924 shares in the company, valued at $21,697,441.56. The trade was a 0.45% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders have sold 119,041 shares of company stock valued at $9,052,531. 10.85% of the stock is currently owned by company insiders.

Block Company 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.