Western Wealth Management LLC Takes $297,000 Position in Block, Inc. $XYZ

Western Wealth Management LLC bought a new stake in shares of Block, Inc. (NYSE:XYZ) during the 2nd quarter, HoldingsChannel reports. The firm bought 4,367 shares of the technology company’s stock, valued at approximately $297,000.

A number of other institutional investors and hedge funds have also recently bought and sold shares of XYZ. S Bank Fund Management Ltd acquired a new stake in Block in the second quarter valued at approximately $92,000. Praxis Investment Management Inc. purchased a new position in shares of Block in the second quarter valued at $508,000. Nordea Investment Management AB purchased a new position in shares of Block in the second quarter valued at $3,105,000. SilverOak Wealth Management LLC acquired a new stake in Block during the 2nd quarter valued at $218,000. Finally, Private Trust Co. NA purchased a new stake in Block during the 2nd quarter worth $94,000. Hedge funds and other institutional investors own 70.44% of the company’s stock.

Block Stock Performance

Shares of XYZ stock opened at $57.55 on Wednesday. The stock has a market capitalization of $34.97 billion, a price-to-earnings ratio of 11.60, a PEG ratio of 3.03 and a beta of 2.73. Block, Inc. has a one year low of $44.27 and a one year high of $99.26. The company’s 50-day simple moving average is $73.87 and its 200-day simple moving average is $70.27. The company has a debt-to-equity ratio of 0.25, a quick ratio of 2.18 and a current ratio of 2.18.

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

Insiders Place Their Bets

In related news, insider Brian Grassadonia sold 35,145 shares of the company’s stock in a transaction that occurred on Wednesday, October 8th. The stock was sold at an average price of $80.00, for a total transaction of $2,811,600.00. Following the sale, the insider directly owned 535,896 shares of the company’s stock, valued at approximately $42,871,680. This represents a 6.15% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Chrysty Esperanza sold 406 shares of the firm’s stock in a transaction on Thursday, October 2nd. The stock was sold at an average price of $74.77, for a total value of $30,356.62. Following the transaction, the insider owned 126,806 shares in the company, valued at $9,481,284.62. This trade represents a 0.32% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last ninety days, insiders sold 115,441 shares of company stock worth $8,778,247. Corporate insiders own 10.49% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have commented on XYZ shares. Royal Bank Of Canada decreased their price objective on shares of Block from $97.00 to $90.00 and set an “outperform” rating for the company in a research report on Friday, November 7th. Truist Financial upgraded Block from a “sell” rating to a “hold” rating in a research note on Monday. Raymond James Financial reissued an “outperform” rating and issued a $95.00 price target (up previously from $79.00) on shares of Block in a report on Friday, August 8th. KeyCorp restated an “overweight” rating and set a $94.00 price objective on shares of Block in a research note on Wednesday, October 22nd. Finally, Weiss Ratings restated a “hold (c+)” rating on shares of Block in a report on Wednesday, October 8th. Three analysts have rated the stock with a Strong Buy rating, twenty-one have given a Buy rating, eleven have given a Hold rating and two have given a Sell rating to the stock. According to MarketBeat.com, Block has a consensus 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.