Compass Financial Management LLC purchased a new stake in Block, Inc. (NYSE:XYZ – Free Report) during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The firm purchased 9,381 shares of the technology company’s stock, valued at approximately $357,000.
Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Allstate Corp lifted its stake in Block by 91.9% in the 4th quarter. Allstate Corp now owns 39,281 shares of the technology company’s stock worth $2,557,000 after purchasing an additional 18,812 shares in the last quarter. National Pension Service grew its position in shares of Block by 8.4% in the fourth quarter. National Pension Service now owns 833,124 shares of the technology company’s stock valued at $54,228,000 after purchasing an additional 64,674 shares in the last quarter. Hsbc Holdings PLC grew its position in shares of Block by 7.2% in the fourth quarter. Hsbc Holdings PLC now owns 1,223,824 shares of the technology company’s stock valued at $79,749,000 after purchasing an additional 82,446 shares in the last quarter. Mawer Investment Management Ltd. acquired a new stake in shares of Block in the fourth quarter valued at approximately $3,062,000. Finally, Eurizon Asset Management Hungary Ltd. acquired a new stake in shares of Block in the fourth quarter valued at approximately $976,000. Hedge funds and other institutional investors own 70.44% of the company’s stock.
Block Stock Performance
NYSE:XYZ opened at $81.38 on Tuesday. Block, Inc. has a fifty-two week low of $48.21 and a fifty-two week high of $86.75. The company has a debt-to-equity ratio of 0.26, a quick ratio of 2.21 and a current ratio of 2.21. The company has a 50 day moving average price of $78.89 and a 200 day moving average price of $69.40. The stock has a market capitalization of $48.89 billion, a P/E ratio of 145.31, a PEG ratio of 0.92 and a beta of 2.53.
Analyst Ratings Changes
A number of equities analysts have weighed in on the company. KeyCorp boosted their price objective on Block from $105.00 to $108.00 and gave the stock an “overweight” rating in a research note on Thursday, August 6th. Robert W. Baird set a $105.00 target price on Block in a research note on Thursday, August 6th. BTIG Research lifted their price target on Block from $90.00 to $100.00 and gave the stock a “buy” rating in a report on Thursday, August 6th. Keefe, Bruyette & Woods boosted their price target on shares of Block from $90.00 to $100.00 and gave the company an “outperform” rating in a research report on Thursday, August 6th. Finally, Clear Str upgraded shares of Block to a “hold” rating in a research report on Thursday, July 16th. Three research analysts have rated the stock with a Strong Buy rating, twenty-eight have assigned a Buy rating and eight have issued a Hold rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $95.23.
Check Out Our Latest Stock Analysis on XYZ
Insider Transactions at Block
In related news, insider Owen Britton Jennings sold 1,317 shares of the firm’s stock in a transaction dated Monday, August 24th. The stock was sold at an average price of $81.48, for a total transaction of $107,309.16. Following the completion of the transaction, the insider directly owned 460,128 shares in the company, valued at $37,491,229.44. This trade represents a 0.29% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Amrita Ahuja sold 9,511 shares of Block stock in a transaction dated Monday, August 24th. The shares were sold at an average price of $82.43, for a total value of $783,991.73. Following the completion of the transaction, the chief financial officer directly owned 423,262 shares of the company’s stock, valued at approximately $34,889,486.66. This represents a 2.20% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 495,756 shares of company stock worth $39,090,259 over the last quarter. 11.37% of the stock is owned by corporate insiders.
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.
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