18,806 Shares in Block, Inc. $XYZ Bought by LGT Group Foundation

LGT Group Foundation bought a new stake in shares of Block, Inc. (NYSE:XYZ) in the 3rd quarter, according to its most recent filing with the SEC. The institutional investor bought 18,806 shares of the technology company’s stock, valued at approximately $1,380,000.

Several other hedge funds and other institutional investors also recently bought and sold shares of XYZ. Traub Capital Management LLC acquired a new position in shares of Block during the second quarter valued at about $26,000. Nemes Rush Group LLC acquired a new stake in shares of Block during the 2nd quarter valued at about $26,000. City Holding Co. acquired a new stake in Block during the third quarter valued at approximately $27,000. Cromwell Holdings LLC acquired a new stake in Block in the 3rd quarter valued at $27,000. Finally, Cary Street Partners Investment Advisory LLC acquired a new position in Block during the third quarter worth $28,000. 70.44% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Block

In related news, insider Owen Britton Jennings sold 3,555 shares of the firm’s stock in a transaction dated Tuesday, March 3rd. The stock was sold at an average price of $63.41, for a total value of $225,422.55. Following the transaction, the insider owned 231,262 shares in the company, valued at $14,664,323.42. This trade represents a 1.51% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Brian Grassadonia sold 10,349 shares of Block stock in a transaction dated Tuesday, February 24th. The stock was sold at an average price of $50.00, for a total value of $517,450.00. Following the completion of the sale, the insider owned 503,784 shares of the company’s stock, valued at approximately $25,189,200. The trade was a 2.01% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders sold 20,352 shares of company stock worth $1,165,720. 10.49% of the stock is owned by insiders.

Block Stock Performance

XYZ stock opened at $65.69 on Tuesday. The company has a debt-to-equity ratio of 0.26, a current ratio of 2.20 and a quick ratio of 2.20. The company has a 50 day moving average price of $61.22 and a 200 day moving average price of $67.70. Block, Inc. has a fifty-two week low of $44.27 and a fifty-two week high of $82.50. The stock has a market capitalization of $39.91 billion, a PE ratio of 31.28, a price-to-earnings-growth ratio of 1.16 and a beta of 2.64.

Block (NYSE:XYZ) last announced its quarterly earnings data on Thursday, February 26th. The technology company reported $0.65 EPS for the quarter, beating analysts’ consensus estimates of $0.26 by $0.39. The firm had revenue of $6.25 billion for the quarter. Block had a return on equity of 6.66% and a net margin of 5.40%.The firm’s quarterly revenue was up 3.6% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.71 earnings per share. Analysts forecast that Block, Inc. will post 2.54 EPS for the current year.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on XYZ shares. Truist Financial set a $72.00 target price on shares of Block in a research note on Tuesday, January 20th. Oppenheimer increased their target price on shares of Block from $85.00 to $89.00 and gave the stock an “outperform” rating in a research report on Friday, February 27th. Needham & Company LLC lifted their price target on shares of Block from $80.00 to $90.00 and gave the company a “buy” rating in a report on Friday, February 27th. HSBC upgraded shares of Block from a “hold” rating to a “buy” rating and boosted their price target for the company from $70.00 to $77.00 in a research report on Tuesday, March 3rd. Finally, Morgan Stanley raised shares of Block from an “equal weight” rating to an “overweight” rating and upped their price objective for the stock from $72.00 to $93.00 in a research note on Friday, February 27th. Three equities research analysts have rated the stock with a Strong Buy rating, twenty-five have assigned a Buy rating, eight have assigned a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $82.79.

Block Company Profile

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.