9,089 Shares in Block, Inc. $XYZ Acquired by Retireful LLC

Retireful LLC acquired a new stake in Block, Inc. (NYSE:XYZ) during the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor acquired 9,089 shares of the technology company’s stock, valued at approximately $657,000.

A number of other institutional investors and hedge funds have also modified their holdings of the business. Vanguard Group Inc. purchased a new stake in shares of Block during the second quarter valued at $3,730,489,000. Sands Capital Management LLC purchased a new position in shares of Block during the second quarter valued at approximately $702,446,000. Geode Capital Management LLC bought a new position in Block during the second quarter valued at approximately $634,721,000. Dragoneer Investment Group LLC purchased a new stake in Block in the second quarter worth approximately $627,233,000. Finally, Ameriprise Financial Inc. purchased a new stake in Block in the second quarter worth approximately $535,305,000. Institutional investors own 70.44% of the company’s stock.

Insider Transactions at Block

In other Block news, insider Owen Britton Jennings sold 10,417 shares of the business’s stock in a transaction on Friday, November 21st. The shares were sold at an average price of $61.40, for a total value of $639,603.80. Following the sale, the insider owned 243,540 shares in the company, valued at $14,953,356. The trade was a 4.10% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Arnaud Weber sold 7,095 shares of the stock in a transaction that occurred on Friday, November 21st. The shares were sold at an average price of $61.40, for a total value of $435,633.00. Following the transaction, the insider directly owned 259,136 shares of the company’s stock, valued at approximately $15,910,950.40. The trade was a 2.66% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders have sold 92,617 shares of company stock valued at $6,474,580. 10.49% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

XYZ has been the subject of a number of research reports. Stephens reiterated an “overweight” rating and set a $95.00 target price on shares of Block in a research note on Thursday, November 20th. Zacks Research cut Block from a “strong-buy” rating to a “hold” rating in a research report on Monday, November 10th. Wells Fargo & Company raised Block to a “strong-buy” rating in a research report on Wednesday, October 22nd. Canaccord Genuity Group restated a “buy” rating and set a $80.00 price target on shares of Block in a research note on Tuesday, September 23rd. Finally, Piper Sandler dropped their price objective on shares of Block from $58.00 to $55.00 and set an “underweight” rating on the stock in a report on Friday, November 7th. Three investment analysts have rated the stock with a Strong Buy rating, twenty-one have assigned a Buy rating, twelve have issued a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $83.42.

Block Price Performance

Shares of NYSE:XYZ opened at $66.26 on Monday. The company has a market capitalization of $40.26 billion, a P/E ratio of 13.36, a P/E/G ratio of 2.62 and a beta of 2.66. Block, Inc. has a 1-year low of $44.27 and a 1-year high of $94.25. The firm’s 50 day simple moving average is $67.02 and its two-hundred day simple moving average is $71.30. The company has a debt-to-equity ratio of 0.25, a current ratio of 2.18 and a quick ratio of 2.18.

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