S Bank Fund Management Ltd Invests $92,000 in Block, Inc. $XYZ

S Bank Fund Management Ltd purchased a new position in shares of Block, Inc. (NYSE:XYZ) in the second quarter, Holdings Channel reports. The fund purchased 1,348 shares of the technology company’s stock, valued at approximately $92,000.

Wall Street Analyst Weigh In

XYZ has been the subject of several analyst reports. JPMorgan Chase & Co. boosted their target price on Block from $60.00 to $90.00 and gave the stock an “overweight” rating in a research note on Monday, July 21st. Keefe, Bruyette & Woods lifted their target price on Block from $80.00 to $95.00 and gave the stock an “outperform” rating in a research report on Friday, August 8th. Royal Bank Of Canada reissued an “outperform” rating and set a $97.00 price target (up previously from $63.00) on shares of Block in a report on Friday, August 8th. Evercore ISI raised their price target on Block from $75.00 to $85.00 and gave the stock an “outperform” rating in a report on Thursday, July 17th. Finally, Bank of America raised their price target on Block from $88.00 to $94.00 and gave the stock a “buy” rating in a report on Friday, August 8th. One research analyst has rated the stock with a Strong Buy rating, twenty-four have assigned a Buy rating, ten have given a Hold rating and three have given a Sell rating to the company. According to data from MarketBeat.com, Block presently has a consensus rating of “Moderate Buy” and a consensus price target of $80.64.

Insider Buying and Selling at Block

In other news, insider Owen Britton Jennings sold 10,424 shares of the firm’s stock in a transaction on Thursday, August 21st. The stock was sold at an average price of $73.20, for a total transaction of $763,036.80. Following the transaction, the insider directly owned 263,507 shares of the company’s stock, valued at approximately $19,288,712.40. This trade represents a 3.81% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Dhananjay Prasanna sold 5,659 shares of the firm’s stock in a transaction on Thursday, August 21st. The shares were sold at an average price of $73.72, for a total value of $417,181.48. Following the transaction, the insider directly owned 289,492 shares in the company, valued at $21,341,350.24. This trade represents a 1.92% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 144,692 shares of company stock worth $11,058,664. Company insiders own 10.85% of the company’s stock.

Block Trading Down 2.2%

Shares of Block stock opened at $74.49 on Friday. The company has a 50-day moving average of $76.17 and a two-hundred day moving average of $67.24. The stock has a market cap of $45.41 billion, a PE ratio of 15.95, a price-to-earnings-growth ratio of 3.08 and a beta of 2.71. Block, Inc. has a 12-month low of $44.27 and a 12-month high of $99.26. The company has a current ratio of 1.96, a quick ratio of 1.96 and a debt-to-equity ratio of 0.16.

Block (NYSE:XYZ) last released its quarterly earnings results on Thursday, August 7th. The technology company reported $0.62 EPS for the quarter, beating the consensus estimate of $0.21 by $0.41. Block had a net margin of 12.32% and a return on equity of 7.85%. The business had revenue of $6.05 billion for the quarter, compared to analyst estimates of $6.32 billion. The firm’s quarterly revenue was down 1.6% compared to the same quarter last year. On average, research analysts anticipate that Block, Inc. will post 2.54 EPS for the current fiscal year.

About Block

Square, Inc provides payment and point-of-sale solutions in the United States and internationally. The company's commerce ecosystem includes point-of-sale software and hardware that enables sellers to turn mobile and computing devices into payment and point-of-sale solutions. It offers hardware products, including Magstripe reader, which enables swiped transactions of magnetic stripe cards; Contactless and chip reader that accepts EMV® chip cards and Near Field Communication payments; Chip card reader, which accepts EMV® chip cards and enables swiped transactions of magnetic stripe cards; Square Stand, which enables an iPad to be used as a payment terminal or full point of sale solution; and Square Register that combines its hardware, point-of-sale software, and payments technology, as well as managed payments solutions.