Crewe Advisors LLC Takes Position in Block, Inc. $XYZ

Crewe Advisors LLC purchased a new stake in shares of Block, Inc. (NYSE:XYZ) during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 674 shares of the technology company’s stock, valued at approximately $46,000.

Other large investors also recently modified their holdings of the company. S Bank Fund Management Ltd acquired a new position in shares of Block during the second quarter valued at $92,000. Private Trust Co. NA acquired a new position in Block during the second quarter worth about $94,000. SilverOak Wealth Management LLC acquired a new position in Block during the second quarter worth about $218,000. Hartline Investment Corp acquired a new position in Block during the second quarter worth about $265,000. Finally, Chicago Partners Investment Group LLC acquired a new position in Block during the second quarter worth about $290,000. 70.44% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research firms recently issued reports on XYZ. Truist Financial lifted their target price on Block from $65.00 to $70.00 and gave the stock a “sell” rating in a report on Thursday, August 21st. BNP Paribas Exane lowered Block from an “outperform” rating to a “neutral” rating and set a $86.00 price target for the company. in a research report on Tuesday, September 2nd. Cowen reiterated a “buy” rating on shares of Block in a research report on Friday, August 8th. Zacks Research upgraded Block from a “hold” rating to a “strong-buy” rating in a research report on Monday, October 13th. Finally, Macquarie increased their price target on Block from $50.00 to $67.00 and gave the company a “neutral” rating in a research report on Tuesday, August 12th. One equities research analyst has rated the stock with a Strong Buy rating, twenty-four have issued a Buy rating, ten have issued a Hold rating and three have issued a Sell rating to the stock. According to MarketBeat.com, Block currently has a consensus rating of “Moderate Buy” and a consensus target price of $80.64.

Block Trading Up 1.7%

Shares of NYSE XYZ opened at $76.50 on Tuesday. Block, Inc. has a one year low of $44.27 and a one year high of $99.26. The firm has a market capitalization of $46.63 billion, a PE ratio of 16.38, a PEG ratio of 3.04 and a beta of 2.71. The company has a current ratio of 1.96, a quick ratio of 1.96 and a debt-to-equity ratio of 0.16. The business has a 50-day moving average price of $76.28 and a two-hundred day moving average price of $67.72.

Block (NYSE:XYZ) last announced its quarterly earnings data on Thursday, August 7th. The technology company reported $0.62 EPS for the quarter, topping analysts’ consensus estimates of $0.21 by $0.41. Block had a return on equity of 7.85% and a net margin of 12.32%.The firm had revenue of $6.05 billion during the quarter, compared to analyst estimates of $6.32 billion. The firm’s revenue was down 1.6% compared to the same quarter last year. As a group, analysts predict that Block, Inc. will post 2.54 earnings per share for the current fiscal year.

Insider Activity

In other news, insider Chrysty Esperanza sold 406 shares of Block stock in a transaction dated Thursday, October 2nd. The stock was sold at an average price of $74.77, for a total transaction of $30,356.62. Following the completion of the sale, the insider directly owned 126,806 shares in the company, valued at $9,481,284.62. The trade was a 0.32% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Brian Grassadonia sold 35,145 shares of Block stock in a transaction dated Wednesday, October 8th. The shares were sold at an average price of $80.00, for a total value of $2,811,600.00. Following the sale, the insider owned 535,896 shares of the company’s stock, valued at approximately $42,871,680. This represents a 6.15% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 124,341 shares of company stock worth $9,459,075. Corporate insiders own 10.49% of the company’s stock.

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.