CAP Partners LLC Buys Shares of 4,399 Block, Inc. $XYZ

CAP Partners LLC bought a new stake in Block, Inc. (NYSE:XYZ) during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 4,399 shares of the technology company’s stock, valued at approximately $299,000.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Crewe Advisors LLC purchased a new stake in Block in the second quarter valued at approximately $46,000. Cullen Frost Bankers Inc. purchased a new stake in Block in the second quarter valued at approximately $73,000. S Bank Fund Management Ltd purchased a new stake in Block in the second quarter valued at approximately $92,000. Private Trust Co. NA purchased a new stake in Block in the second quarter valued at approximately $94,000. Finally, Whittier Trust Co. purchased a new stake in Block in the second quarter valued at approximately $96,000. Hedge funds and other institutional investors own 70.44% of the company’s stock.

Insider Buying and Selling

In other news, insider Owen Britton Jennings sold 10,424 shares of the stock in a transaction dated Thursday, August 21st. The shares were sold at an average price of $73.20, for a total transaction of $763,036.80. Following the completion of the sale, the insider owned 263,507 shares in the company, valued at approximately $19,288,712.40. This represents a 3.81% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Chrysty Esperanza sold 3,609 shares of the stock in a transaction dated Thursday, August 21st. The stock was sold at an average price of $73.20, for a total transaction of $264,178.80. Following the sale, the insider owned 127,212 shares of the company’s stock, valued at $9,311,918.40. This trade represents a 2.76% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 123,041 shares of company stock valued at $9,355,075 over the last ninety days. Company insiders own 10.85% of the company’s stock.

Analyst Upgrades and Downgrades

XYZ has been the topic of a number of recent research reports. Piper Sandler reaffirmed an “underweight” rating and set a $58.00 price objective (up previously from $50.00) on shares of Block in a research report on Friday, August 8th. Canaccord Genuity Group reaffirmed a “buy” rating and set a $80.00 price objective on shares of Block in a research report on Tuesday, September 23rd. JPMorgan Chase & Co. upped their price objective on Block from $60.00 to $90.00 and gave the stock an “overweight” rating in a research report on Monday, July 21st. Evercore ISI upped their price objective on Block from $75.00 to $85.00 and gave the stock an “outperform” rating in a research report on Thursday, July 17th. Finally, Mizuho upped their price objective on Block from $71.00 to $88.00 and gave the stock an “outperform” rating in a research report on Thursday, August 14th. Four equities research analysts have rated the stock with a Strong Buy rating, twenty-two have issued a Buy rating, nine have given a Hold rating and three have assigned a Sell rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $82.30.

Block Stock Performance

NYSE XYZ opened at $78.59 on Friday. The company has a debt-to-equity ratio of 0.16, a current ratio of 1.96 and a quick ratio of 1.96. Block, Inc. has a 1 year low of $44.27 and a 1 year high of $99.26. The company has a market capitalization of $47.91 billion, a PE ratio of 16.83, a P/E/G ratio of 3.09 and a beta of 2.71. The company has a fifty day moving average of $76.37 and a two-hundred day moving average of $68.04.

Block (NYSE:XYZ) last released its quarterly earnings data on Thursday, August 7th. The technology company reported $0.62 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.21 by $0.41. Block had a net margin of 12.32% and a return on equity of 7.85%. The company had revenue of $6.05 billion during the quarter, compared to the consensus estimate of $6.32 billion. The business’s quarterly revenue was down 1.6% compared to the same quarter last year. As a group, analysts expect that Block, Inc. will post 2.54 earnings per share for the current year.

Block 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.