Block, Inc. $XYZ Shares Sold by GFG Capital LLC

GFG Capital LLC cut its stake in Block, Inc. (NYSE:XYZ) by 27.3% during the fourth quarter, HoldingsChannel reports. The institutional investor owned 25,739 shares of the technology company’s stock after selling 9,672 shares during the quarter. GFG Capital LLC’s holdings in Block were worth $1,675,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of XYZ. Howard Capital Management Inc. increased its stake in Block by 3.2% during the 3rd quarter. Howard Capital Management Inc. now owns 4,439 shares of the technology company’s stock worth $321,000 after buying an additional 138 shares in the last quarter. Whittier Trust Co. of Nevada Inc. lifted its position in shares of Block by 23.1% in the third quarter. Whittier Trust Co. of Nevada Inc. now owns 853 shares of the technology company’s stock valued at $66,000 after acquiring an additional 160 shares in the last quarter. Jones Financial Companies Lllp boosted its stake in shares of Block by 0.8% in the third quarter. Jones Financial Companies Lllp now owns 21,183 shares of the technology company’s stock worth $1,561,000 after acquiring an additional 167 shares during the last quarter. Vista Investment Partners II LLC boosted its stake in shares of Block by 3.6% in the third quarter. Vista Investment Partners II LLC now owns 5,334 shares of the technology company’s stock worth $385,000 after acquiring an additional 184 shares during the last quarter. Finally, Rothschild Investment LLC increased its position in shares of Block by 59.7% during the third quarter. Rothschild Investment LLC now owns 495 shares of the technology company’s stock worth $36,000 after purchasing an additional 185 shares in the last quarter. 70.44% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other news, CFO Amrita Ahuja sold 1,101 shares of Block stock in a transaction that occurred on Friday, January 2nd. The shares were sold at an average price of $63.98, for a total transaction of $70,441.98. Following the sale, the chief financial officer owned 271,864 shares of the company’s stock, valued at approximately $17,393,858.72. The trade was a 0.40% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CAO Ajmere Dale sold 1,173 shares of Block stock in a transaction that occurred on Friday, January 2nd. The shares were sold at an average price of $65.09, for a total transaction of $76,350.57. Following the sale, the chief accounting officer directly owned 98,412 shares in the company, 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. Insiders have sold 20,352 shares of company stock worth $1,165,720 over the last quarter. 10.49% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on the company. Cantor Fitzgerald restated an “overweight” rating and issued a $70.00 price objective on shares of Block in a report on Friday, February 27th. Truist Financial raised shares of Block from a “hold” rating to a “buy” rating and upped their target price for the stock from $72.00 to $77.00 in a report on Wednesday, March 18th. Oppenheimer increased their target price on shares of Block from $85.00 to $89.00 and gave the company an “outperform” rating in a research report on Friday, February 27th. Wall Street Zen downgraded shares of Block from a “buy” rating to a “hold” rating in a research note on Saturday. Finally, Rothschild & Co Redburn upgraded shares of Block from a “sell” rating to a “neutral” rating and boosted their price target for the stock from $45.00 to $55.00 in a research report on Wednesday, March 18th. Three equities research analysts have rated the stock with a Strong Buy rating, twenty-seven have assigned a Buy rating, eight have given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $81.72.

Block Trading Up 5.5%

Shares of XYZ stock opened at $60.15 on Wednesday. The company has a current ratio of 2.20, a quick ratio of 2.20 and a debt-to-equity ratio of 0.26. Block, Inc. has a twelve month low of $44.27 and a twelve month high of $82.50. The company’s 50-day moving average price is $58.94 and its 200-day moving average price is $65.78. The stock has a market cap of $36.04 billion, a price-to-earnings ratio of 28.64, a PEG ratio of 0.98 and a beta of 2.65.

Block (NYSE:XYZ) last issued its earnings results on Thursday, February 26th. The technology company reported $0.65 EPS for the quarter, topping analysts’ consensus estimates of $0.26 by $0.39. The company had revenue of $6.25 billion for the quarter. Block had a net margin of 5.40% and a return on equity of 6.66%. Block’s revenue for the quarter was up 3.6% on a year-over-year basis. During the same period last year, the firm earned $0.71 earnings per share. As a group, equities analysts predict that Block, Inc. will post 2.54 earnings per share for the current 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.