86,769 Shares in Block, Inc. $XYZ Acquired by Greenland Capital Management LP

Greenland Capital Management LP bought a new stake in Block, Inc. (NYSE:XYZ) during the second quarter, Holdings Channel.com reports. The firm bought 86,769 shares of the technology company’s stock, valued at approximately $5,894,000.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of XYZ. SouthState Corp bought a new position in Block in the 2nd quarter worth approximately $29,000. First Horizon Advisors Inc. bought a new position in Block in the 2nd quarter valued at about $30,000. Comprehensive Financial Planning Inc. PA acquired a new position in Block during the 2nd quarter valued at about $31,000. Parkside Financial Bank & Trust bought a new stake in shares of Block during the 2nd quarter worth about $31,000. Finally, Deseret Mutual Benefit Administrators acquired a new stake in shares of Block in the 2nd quarter worth approximately $33,000. 70.44% of the stock is owned by institutional investors and hedge funds.

Block Stock Performance

Shares of XYZ stock opened at $57.55 on Wednesday. The company has a market capitalization of $34.97 billion, a price-to-earnings ratio of 11.60, a P/E/G ratio of 3.03 and a beta of 2.73. Block, Inc. has a 1-year low of $44.27 and a 1-year high of $99.26. The company has a current ratio of 2.18, a quick ratio of 2.18 and a debt-to-equity ratio of 0.25. The stock’s fifty day simple moving average is $73.87 and its 200-day simple moving average is $70.27.

Block (NYSE:XYZ) last announced its quarterly earnings data on Thursday, November 6th. The technology company reported $0.54 EPS for the quarter, topping analysts’ consensus estimates of $0.25 by $0.29. The firm had revenue of $6.11 billion during the quarter. Block had a return on equity of 7.41% and a net margin of 12.99%.The company’s revenue was up 2.3% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.53 earnings per share. On average, sell-side analysts predict that Block, Inc. will post 2.54 earnings per share for the current fiscal year.

Insider Activity

In other news, insider Brian Grassadonia sold 35,145 shares of the business’s stock in a transaction on Wednesday, October 8th. The shares were sold at an average price of $80.00, for a total transaction of $2,811,600.00. Following the transaction, the insider directly owned 535,896 shares in the company, valued at $42,871,680. The trade was a 6.15% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CFO Amrita Ahuja sold 9,966 shares of the stock in a transaction on Thursday, August 21st. The stock was sold at an average price of $73.20, for a total value of $729,511.20. Following the sale, the chief financial officer owned 298,431 shares of the company’s stock, valued at approximately $21,845,149.20. This represents a 3.23% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 115,441 shares of company stock valued at $8,778,247 in the last three months. 10.49% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

A number of research analysts recently commented on the stock. KeyCorp reiterated an “overweight” rating and set a $94.00 price objective on shares of Block in a research note on Wednesday, October 22nd. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Block in a research note on Wednesday, October 8th. BTIG Research reiterated a “buy” rating and issued a $90.00 price target on shares of Block in a research report on Friday, November 14th. Citigroup raised shares of Block to a “strong-buy” rating in a research note on Thursday, October 23rd. Finally, Keefe, Bruyette & Woods upped their price target on Block from $80.00 to $95.00 and gave the company an “outperform” rating in a report on Friday, August 8th. Three equities research analysts have rated the stock with a Strong Buy rating, twenty-one have issued a Buy rating, eleven have given a Hold rating and two have given a Sell rating to the company. According to MarketBeat, Block has an average rating of “Moderate Buy” and an average target price of $82.36.

Block Company Profile

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.