Yousif Capital Management LLC Makes New $4.34 Million Investment in Block, Inc. $XYZ

Yousif Capital Management LLC bought a new stake in Block, Inc. (NYSE:XYZ) in the 3rd quarter, HoldingsChannel reports. The firm bought 59,983 shares of the technology company’s stock, valued at approximately $4,335,000.

Other institutional investors have also modified their holdings of the company. Nemes Rush Group LLC acquired a new position in shares of Block during the 2nd quarter valued at about $26,000. Traub Capital Management LLC acquired a new position in Block in the 2nd quarter valued at about $26,000. SouthState Corp purchased a new stake in shares of Block in the 2nd quarter valued at approximately $29,000. First Horizon Advisors Inc. acquired a new stake in shares of Block during the 2nd quarter worth approximately $30,000. Finally, Comprehensive Financial Planning Inc. PA purchased a new stake in shares of Block during the 2nd quarter valued at approximately $31,000. Hedge funds and other institutional investors own 70.44% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on the company. Truist Financial upgraded Block from a “sell” rating to a “hold” rating in a research report on Monday, November 17th. Jefferies Financial Group upped their price target on Block from $90.00 to $95.00 and gave the company a “buy” rating in a research note on Tuesday, October 21st. Mizuho increased their price target on Block from $88.00 to $100.00 and gave the stock an “outperform” rating in a report on Thursday, November 20th. Piper Sandler cut their price objective on Block from $58.00 to $55.00 and set an “underweight” rating for the company in a research report on Friday, November 7th. Finally, KeyCorp reaffirmed an “overweight” rating and issued a $94.00 target price on shares of Block in a research report on Wednesday, October 22nd. Three equities research analysts have rated the stock with a Strong Buy rating, twenty-one have given a Buy rating, twelve have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, Block currently has an average rating of “Moderate Buy” and an average target price of $83.42.

Block Trading Up 2.0%

Shares of NYSE XYZ opened at $66.21 on Friday. The company has a current ratio of 2.18, a quick ratio of 2.18 and a debt-to-equity ratio of 0.25. The stock has a market capitalization of $40.23 billion, a PE ratio of 13.35, a PEG ratio of 2.61 and a beta of 2.65. Block, Inc. has a twelve month low of $44.27 and a twelve month high of $94.25. The stock has a fifty day simple moving average of $67.20 and a 200-day simple moving average of $71.20.

Block (NYSE:XYZ) last posted its earnings results on Thursday, November 6th. The technology company reported $0.54 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.25 by $0.29. Block had a return on equity of 5.54% and a net margin of 12.99%.The firm had revenue of $6.11 billion for the quarter. During the same period in the previous year, the company posted $0.53 EPS. Block’s revenue was up 2.3% on a year-over-year basis. On average, equities analysts forecast that Block, Inc. will post 2.54 earnings per share for the current year.

Insider Buying and Selling at Block

In related news, insider Chrysty Esperanza sold 3,608 shares of the company’s stock in a transaction that occurred on Friday, November 21st. The shares were sold at an average price of $61.40, for a total transaction of $221,531.20. Following the sale, the insider directly owned 123,198 shares of the company’s stock, valued at $7,564,357.20. This represents a 2.85% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Brian Grassadonia sold 8,085 shares of the stock in a transaction that occurred on Monday, November 24th. The stock was sold at an average price of $61.96, for a total transaction of $500,946.60. Following the sale, the insider owned 521,352 shares in the company, valued at approximately $32,302,969.92. This trade represents a 1.53% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders have sold 92,617 shares of company stock valued at $6,474,580. Corporate insiders own 10.85% of the company’s stock.

About Block

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.