Private Capital Advisors Inc. Buys Shares of 5,600 Block, Inc. $XYZ

Private Capital Advisors Inc. bought a new stake in Block, Inc. (NYSE:XYZ) in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 5,600 shares of the technology company’s stock, valued at approximately $380,000.

A number of other hedge funds also recently made changes to their positions in XYZ. DekaBank Deutsche Girozentrale bought a new position in shares of Block during the second quarter worth about $36,353,000. Otter Creek Advisors LLC bought a new stake in shares of Block during the second quarter valued at approximately $4,404,000. Nordea Investment Management AB bought a new stake in shares of Block during the second quarter valued at approximately $3,105,000. D.A. Davidson & CO. bought a new stake in shares of Block during the second quarter valued at approximately $1,068,000. Finally, Stephens Inc. AR bought a new stake in shares of Block during the second quarter valued at approximately $1,040,000. 70.44% of the stock is currently owned by institutional investors.

Block Stock Performance

Shares of Block stock opened at $77.71 on Wednesday. The business’s fifty day simple moving average is $76.34 and its 200 day simple moving average is $67.79. The firm has a market capitalization of $47.37 billion, a P/E ratio of 16.64, a price-to-earnings-growth ratio of 3.09 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 issued its quarterly earnings results 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 business had revenue of $6.05 billion for the quarter, compared to analyst estimates of $6.32 billion. Block’s revenue for the quarter was down 1.6% compared to the same quarter last year. As a group, analysts anticipate that Block, Inc. will post 2.54 EPS for the current year.

Insider Activity

In other news, insider Chrysty Esperanza sold 3,609 shares of the company’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 $264,178.80. Following the transaction, the insider owned 127,212 shares of the company’s stock, valued at $9,311,918.40. This represents a 2.76% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Brian Grassadonia sold 35,145 shares of the company’s stock in a transaction on 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 transaction, the insider directly owned 535,896 shares in the company, valued at $42,871,680. This represents a 6.15% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 123,041 shares of company stock worth $9,355,075. 10.49% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on the company. Morgan Stanley boosted their price objective on Block from $73.00 to $77.00 and gave the company an “equal weight” rating in a report on Monday, August 11th. Deutsche Bank Aktiengesellschaft set a $82.00 price objective on Block and gave the company a “buy” rating in a report on Thursday, July 17th. BNP Paribas cut Block from a “strong-buy” rating to a “hold” rating and set a $86.00 target price on the stock. in a research report on Tuesday, September 2nd. Robert W. Baird lifted their target price on Block from $76.00 to $84.00 and gave the company an “outperform” rating in a research report on Monday, July 21st. Finally, Truist Financial lifted their target price on Block from $65.00 to $70.00 and gave the company a “sell” rating in a research report on Thursday, August 21st. One equities research analyst has rated the stock with a Strong Buy rating, twenty-five have issued a Buy rating, nine have assigned a Hold rating and three have assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $82.03.

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.