GSA Capital Partners LLP Invests $989,000 in Block, Inc. $XYZ

GSA Capital Partners LLP bought a new position in shares of Block, Inc. (NYSE:XYZ) in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The firm bought 13,685 shares of the technology company’s stock, valued at approximately $989,000.

Several other institutional investors have also bought and sold shares of XYZ. Private Trust Co. NA bought a new stake in shares of Block in the 2nd quarter worth about $94,000. Stratos Wealth Partners LTD. acquired a new position in Block in the second quarter valued at about $617,000. Chicago Partners Investment Group LLC bought a new position in shares of Block in the second quarter valued at approximately $290,000. Stephens Inc. AR bought a new stake in Block during the 2nd quarter worth approximately $1,040,000. Finally, Avidian Wealth Enterprises LLC acquired a new stake in Block during the 2nd quarter valued at $302,000. Institutional investors and hedge funds own 70.44% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on XYZ shares. Oppenheimer reissued an “outperform” rating and issued a $85.00 price objective on shares of Block in a research note on Friday, November 7th. Needham & Company LLC reaffirmed a “buy” rating and issued a $80.00 price target on shares of Block in a report on Monday, November 24th. The Goldman Sachs Group decreased their price objective on shares of Block from $96.00 to $82.00 and set a “buy” rating on the stock in a report on Friday, November 7th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Block in a research note on Monday, December 29th. Finally, Citigroup decreased their price target on shares of Block from $105.00 to $85.00 and set a “buy” rating on the stock in a research note on Thursday, February 5th. Two equities research analysts have rated the stock with a Strong Buy rating, twenty-four have given a Buy rating, nine have issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, Block has an average rating of “Moderate Buy” and a consensus price target of $81.97.

Insider Buying and Selling at Block

In other Block news, insider Brian Grassadonia sold 8,085 shares of Block stock in a transaction on Monday, November 24th. The shares were sold at an average price of $61.96, for a total transaction of $500,946.60. Following the completion of the sale, the insider owned 521,352 shares of the company’s stock, valued at approximately $32,302,969.92. The trade was a 1.53% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Owen Britton Jennings sold 822 shares of the stock in a transaction on Friday, January 2nd. The shares were sold at an average price of $63.98, for a total value of $52,591.56. Following the completion of the transaction, the insider directly owned 242,718 shares in the company, valued at approximately $15,529,097.64. This trade represents a 0.34% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 14,533 shares of company stock valued at $923,794 in the last three months. Insiders own 10.85% of the company’s stock.

Block Stock Down 1.4%

Shares of NYSE XYZ opened at $52.85 on Friday. Block, Inc. has a 1 year low of $44.27 and a 1 year high of $85.55. The firm’s 50-day moving average is $62.51 and its 200-day moving average is $69.09. The company has a current ratio of 2.18, a quick ratio of 2.18 and a debt-to-equity ratio of 0.25. The firm has a market capitalization of $32.12 billion, a PE ratio of 10.66, a price-to-earnings-growth ratio of 1.10 and a beta of 2.67.

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.