Block, Inc. $XYZ Stock Holdings Trimmed by Pursue Wealth Partners LLC

Pursue Wealth Partners LLC reduced its position in Block, Inc. (NYSE:XYZ) by 61.4% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 11,325 shares of the technology company’s stock after selling 18,000 shares during the quarter. Pursue Wealth Partners LLC’s holdings in Block were worth $737,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of XYZ. City Holding Co. bought a new stake in Block in the third quarter valued at about $27,000. Cromwell Holdings LLC bought a new stake in Block in the third quarter valued at about $27,000. Cary Street Partners Investment Advisory LLC bought a new stake in Block in the third quarter valued at about $28,000. Sound Income Strategies LLC increased its holdings in Block by 57.1% in the fourth quarter. Sound Income Strategies LLC now owns 443 shares of the technology company’s stock valued at $29,000 after buying an additional 161 shares during the last quarter. Finally, Quent Capital LLC acquired a new position in Block in the third quarter valued at approximately $30,000. 70.44% of the stock is owned by institutional investors.

Insider Buying and Selling at Block

In other news, insider Brian Grassadonia sold 10,349 shares of Block stock in a transaction on Tuesday, February 24th. The stock was sold at an average price of $50.00, for a total transaction of $517,450.00. Following the transaction, the insider directly owned 503,784 shares in the company, valued at approximately $25,189,200. This trade represents a 2.01% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Owen Britton Jennings sold 3,555 shares of Block stock in a transaction on Tuesday, March 3rd. The shares were sold at an average price of $63.41, for a total value of $225,422.55. Following the transaction, the insider owned 231,262 shares in the company, valued at approximately $14,664,323.42. This trade represents a 1.51% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders have sold 15,806 shares of company stock worth $857,468. 10.85% of the stock is owned by insiders.

Analyst Ratings Changes

A number of equities analysts have commented on XYZ shares. Truist Financial upgraded Block from a “hold” rating to a “buy” rating and lifted their target price for the company from $72.00 to $77.00 in a research note on Wednesday, March 18th. Oppenheimer lifted their target price on Block from $85.00 to $89.00 and gave the company an “outperform” rating in a research note on Friday, February 27th. BTIG Research restated a “buy” rating and issued a $90.00 target price on shares of Block in a research note on Friday, February 27th. Rothschild & Co Redburn upgraded Block from a “sell” rating to a “neutral” rating and lifted their target price for the company from $45.00 to $55.00 in a research note on Wednesday, March 18th. Finally, Needham & Company LLC lifted their target price on Block from $80.00 to $90.00 and gave the company a “buy” rating in a research note on Friday, February 27th. Four research analysts have rated the stock with a Strong Buy rating, twenty-seven have assigned a Buy rating, seven have issued a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $81.72.

Block Stock Performance

XYZ opened at $68.04 on Thursday. The business’s 50 day moving average is $58.90 and its 200-day moving average is $64.81. The stock has a market cap of $40.76 billion, a PE ratio of 32.40, a price-to-earnings-growth ratio of 1.04 and a beta of 2.61. The company has a current ratio of 2.20, a quick ratio of 2.20 and a debt-to-equity ratio of 0.26. Block, Inc. has a twelve month low of $44.27 and a twelve month high of $82.50.

Block (NYSE:XYZ) last posted its quarterly earnings data on Thursday, February 26th. The technology company reported $0.65 EPS for the quarter, beating analysts’ consensus estimates of $0.26 by $0.39. Block had a net margin of 5.40% and a return on equity of 6.66%. The business had revenue of $6.25 billion for the quarter. During the same quarter in the prior year, the business earned $0.71 EPS. Block’s revenue was up 3.6% compared to the same quarter last year. On average, analysts predict that Block, Inc. will post 2.54 earnings per share for the current year.

Block Company Profile

Block (NYSE:XYZ) is a financial technology company that builds products and services to facilitate electronic payments, commerce, and consumer finance. Its principal business lines include a seller-focused ecosystem that provides point-of-sale hardware and software, payment processing, invoicing, payroll and lending services, and a consumer-facing platform that offers peer-to-peer payments, banking-like features, and investing. Block’s portfolio also encompasses music streaming and buy-now-pay-later capabilities through businesses acquired to broaden its reach beyond core payments.

The company was founded as Square in 2009 by Jack Dorsey and Jim McKelvey and later rebranded to Block to reflect a diversified set of businesses across payments, consumer finance, and emerging technologies.