Block, Inc. $XYZ is Lane Generational LLC’s 9th Largest Position

Lane Generational LLC reduced its position in Block, Inc. (NYSE:XYZ) by 28.9% during the third quarter, according to its most recent 13F filing with the SEC. The firm owned 63,225 shares of the technology company’s stock after selling 25,738 shares during the period. Block accounts for approximately 3.8% of Lane Generational LLC’s portfolio, making the stock its 9th largest holding. Lane Generational LLC’s holdings in Block were worth $4,569,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in XYZ. Sumitomo Mitsui DS Asset Management Company Ltd purchased a new stake in shares of Block in the 3rd quarter valued at about $5,383,000. Motley Fool Asset Management LLC bought a new position in shares of Block in the second quarter worth approximately $2,055,000. Norges Bank purchased a new stake in Block in the second quarter valued at approximately $415,575,000. Y.D. More Investments Ltd purchased a new stake in Block in the second quarter valued at approximately $1,628,000. Finally, Korea Investment CORP bought a new stake in Block during the second quarter valued at approximately $13,937,000. 70.44% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities analysts have recently commented on XYZ shares. Jefferies Financial Group increased their price target on shares of Block from $90.00 to $95.00 and gave the stock a “buy” rating in a report on Tuesday, October 21st. Truist Financial set a $72.00 target price on shares of Block in a research report on Tuesday, January 20th. Keefe, Bruyette & Woods reduced their target price on Block from $90.00 to $85.00 and set an “outperform” rating on the stock in a research note on Friday, January 2nd. Zacks Research downgraded Block from a “strong-buy” rating to a “hold” rating in a research report on Monday, November 10th. Finally, BTIG Research reiterated a “buy” rating and issued a $90.00 price objective on shares of Block in a report on Thursday, November 20th. Four investment analysts have rated the stock with a Strong Buy rating, twenty-two have assigned a Buy rating, nine have issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $83.09.

Block Stock Performance

NYSE XYZ opened at $60.39 on Friday. The company has a 50-day simple moving average of $64.96 and a two-hundred day simple moving average of $71.25. Block, Inc. has a 12-month low of $44.27 and a 12-month high of $93.75. The firm has a market cap of $36.70 billion, a price-to-earnings ratio of 12.18, a PEG ratio of 1.27 and a beta of 2.66. The company has a quick ratio of 2.18, a current ratio of 2.18 and a debt-to-equity ratio of 0.25.

Block (NYSE:XYZ) last released its earnings results on Thursday, November 6th. The technology company reported $0.54 earnings per share for the quarter, beating analysts’ consensus estimates of $0.25 by $0.29. The company had revenue of $6.11 billion during the quarter. Block had a return on equity of 5.54% and a net margin of 12.99%.The company’s revenue was up 2.3% on a year-over-year basis. During the same period last year, the firm posted $0.53 EPS. On average, equities analysts forecast that Block, Inc. will post 2.54 EPS for the current year.

Insider Transactions at Block

In other news, CAO Ajmere Dale sold 1,173 shares of the stock in a transaction that occurred on Friday, January 2nd. The stock was sold at an average price of $65.09, for a total transaction of $76,350.57. Following the completion of the sale, the chief accounting officer owned 98,412 shares of the company’s stock, valued at approximately $6,405,637.08. This represents a 1.18% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Chrysty Esperanza sold 3,608 shares of the firm’s stock in a transaction that occurred on Friday, November 21st. The stock was sold at an average price of $61.40, for a total transaction of $221,531.20. Following the completion of the transaction, the insider owned 123,198 shares in the company, valued at $7,564,357.20. This represents a 2.85% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders have sold 54,796 shares of company stock valued at $3,395,943. Insiders own 10.85% of the company’s stock.

About Block

Block (NYSE:XYZ) is a financial technology company that builds products and services to facilitate electronic payments, commerce, and consumer finance. Its principal business lines include a seller-focused ecosystem that provides point-of-sale hardware and software, payment processing, invoicing, payroll and lending services, and a consumer-facing platform that offers peer-to-peer payments, banking-like features, and investing. Block’s portfolio also encompasses music streaming and buy-now-pay-later capabilities through businesses acquired to broaden its reach beyond core payments.

The company was founded as Square in 2009 by Jack Dorsey and Jim McKelvey and later rebranded to Block to reflect a diversified set of businesses across payments, consumer finance, and emerging technologies.