30,290 Shares in Block, Inc. $XYZ Acquired by Catalyst Funds Management Pty Ltd

Catalyst Funds Management Pty Ltd acquired a new stake in shares of Block, Inc. (NYSE:XYZ) in the second quarter, HoldingsChannel.com reports. The fund acquired 30,290 shares of the technology company’s stock, valued at approximately $2,058,000.

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

Insider Activity at Block

In related news, insider Brian Grassadonia sold 35,145 shares of the stock in a transaction dated Wednesday, October 8th. The shares were sold at an average price of $80.00, for a total value of $2,811,600.00. Following the sale, the insider directly owned 535,896 shares of the company’s stock, valued at $42,871,680. This represents a 6.15% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CFO Amrita Ahuja sold 6,581 shares of the firm’s stock in a transaction dated Tuesday, September 16th. The stock was sold at an average price of $75.00, for a total transaction of $493,575.00. Following the completion of the sale, the chief financial officer directly owned 285,551 shares of the company’s stock, valued at approximately $21,416,325. The trade was a 2.25% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders have sold 76,160 shares of company stock worth $5,899,556. Insiders own 10.85% of the company’s stock.

Block Stock Performance

NYSE:XYZ opened at $61.83 on Thursday. The firm has a market capitalization of $37.57 billion, a PE ratio of 12.47, a PEG ratio of 2.97 and a beta of 2.73. The stock’s fifty day moving average is $73.63 and its 200 day moving average is $70.22. Block, Inc. has a fifty-two week low of $44.27 and a fifty-two week high of $99.26. 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 posted its quarterly earnings data on Thursday, November 6th. The technology company reported $0.54 earnings per share for the quarter, beating analysts’ consensus estimates of $0.25 by $0.29. Block had a net margin of 12.99% and a return on equity of 7.41%. The business had revenue of $6.11 billion for the quarter. During the same quarter last year, the firm earned $0.53 EPS. The company’s revenue was up 2.3% on a year-over-year basis. On average, sell-side analysts anticipate that Block, Inc. will post 2.54 earnings per share for the current year.

Analyst Ratings Changes

Several equities analysts have weighed in on the company. Keefe, Bruyette & Woods raised 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. The Goldman Sachs Group lowered their target price on Block from $96.00 to $82.00 and set a “buy” rating for the company in a research report on Friday, November 7th. Citigroup raised shares of Block to a “strong-buy” rating in a report on Thursday, October 23rd. BTIG Research reaffirmed a “buy” rating and set a $90.00 price target on shares of Block in a research note on Friday, November 14th. Finally, Royal Bank Of Canada lowered 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. Three investment analysts have rated the stock with a Strong Buy rating, twenty-one have issued a Buy rating, eleven have issued a Hold rating and two have issued a Sell rating to the company. According to MarketBeat.com, the stock 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.