10,500 Shares in Block, Inc. $XYZ Purchased by Hussman Strategic Advisors Inc.

Hussman Strategic Advisors Inc. bought a new stake in Block, Inc. (NYSE:XYZ) during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm bought 10,500 shares of the technology company’s stock, valued at approximately $759,000.

Several other institutional investors also recently added to or reduced their stakes in XYZ. Cromwell Holdings LLC bought a new stake in shares of Block in the third quarter valued at approximately $27,000. City Holding Co. acquired a new position in Block during the 3rd quarter valued at $27,000. Nemes Rush Group LLC acquired a new position in Block during the 2nd quarter valued at $26,000. Traub Capital Management LLC bought a new stake in Block in the 2nd quarter valued at $26,000. Finally, RMG Wealth Management LLC acquired a new stake in Block in the 3rd quarter worth $30,000. 70.44% of the stock is owned by institutional investors.

Insider Activity

In related news, insider Chrysty Esperanza sold 3,608 shares of the 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 sale, the insider directly owned 123,198 shares in the company, valued at $7,564,357.20. This represents a 2.85% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CAO Ajmere Dale sold 1,173 shares of Block stock in a transaction on Friday, January 2nd. The shares were sold at an average price of $65.09, for a total value of $76,350.57. Following the completion of the transaction, the chief accounting officer owned 98,412 shares of the company’s stock, valued at approximately $6,405,637.08. The trade was a 1.18% decrease in their position. The SEC filing for this sale provides additional information. In the last three months, insiders sold 54,796 shares of company stock valued at $3,395,943. Corporate insiders own 10.49% of the company’s stock.

Wall Street Analyst Weigh In

XYZ has been the subject of several research reports. Weiss Ratings reiterated a “hold (c)” rating on shares of Block in a research note on Monday, December 29th. Citigroup upgraded Block to a “strong-buy” rating in a research report on Thursday, October 23rd. Royal Bank Of Canada restated an “outperform” rating and set a $90.00 price objective on shares of Block in a research report on Thursday, November 20th. Piper Sandler reduced their target price on Block from $55.00 to $51.00 and set an “underweight” rating for the company in a research report on Wednesday, January 14th. Finally, Stephens reiterated an “overweight” rating and set a $95.00 price target on shares of Block in a research note on Thursday, November 20th. Four analysts have rated the stock with a Strong Buy rating, twenty-two have assigned a Buy rating, nine have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $83.09.

Block Stock Performance

Shares of NYSE:XYZ opened at $64.23 on Thursday. The company has a debt-to-equity ratio of 0.25, a current ratio of 2.18 and a quick ratio of 2.18. The business’s fifty day moving average price is $64.99 and its two-hundred day moving average price is $71.34. Block, Inc. has a fifty-two week low of $44.27 and a fifty-two week high of $94.25. The stock has a market capitalization of $39.03 billion, a price-to-earnings ratio of 12.95, a price-to-earnings-growth ratio of 1.35 and a beta of 2.66.

Block (NYSE:XYZ) last issued its earnings results on Thursday, November 6th. The technology company reported $0.54 EPS for the quarter, beating the consensus estimate of $0.25 by $0.29. Block had a net margin of 12.99% and a return on equity of 5.54%. The company had revenue of $6.11 billion for the quarter. During the same quarter in the prior year, the firm posted $0.53 EPS. The firm’s revenue for the quarter was up 2.3% on a year-over-year basis. As a group, analysts predict that Block, Inc. will post 2.54 EPS for the current fiscal year.

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.