Mutual of America Capital Management LLC Makes New $4.31 Million Investment in Block, Inc. $XYZ

Mutual of America Capital Management LLC bought a new position in Block, Inc. (NYSE:XYZ) during the third quarter, according to its most recent 13F filing with the SEC. The fund bought 59,573 shares of the technology company’s stock, valued at approximately $4,305,000.

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

Insider Activity

In other Block news, insider Chrysty Esperanza sold 3,608 shares of the firm’s stock in a transaction dated Friday, November 21st. The stock was sold at an average price of $61.40, for a total value of $221,531.20. Following the completion of the sale, the insider owned 123,198 shares of the company’s stock, valued at approximately $7,564,357.20. This trade represents a 2.85% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed 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 transaction of $435,633.00. Following the completion of the transaction, the insider directly owned 259,136 shares of the company’s stock, valued at $15,910,950.40. The trade was a 2.66% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 54,796 shares of company stock worth $3,395,943 over the last quarter. Company insiders own 10.85% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on XYZ. Morgan Stanley increased their target price on Block from $71.00 to $72.00 and gave the stock an “equal weight” rating in a research note on Friday, November 21st. Bank of America raised their target price on shares of Block from $86.00 to $88.00 and gave the stock a “buy” rating in a research report on Friday, November 21st. BNP Paribas Exane upgraded Block from a “hold” rating to an “outperform” rating and set a $83.00 price target for the company in a report on Wednesday, January 7th. Mizuho increased their price objective on Block from $88.00 to $100.00 and gave the stock an “outperform” rating in a research note on Thursday, November 20th. Finally, The Goldman Sachs Group decreased 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. Four investment analysts have rated the stock with a Strong Buy rating, twenty-two have assigned a Buy rating, nine have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, Block presently has a consensus rating of “Moderate Buy” and a consensus price target of $83.09.

Block Stock Down 3.2%

Shares of Block stock opened at $62.14 on Friday. The company has a quick ratio of 2.18, a current ratio of 2.18 and a debt-to-equity ratio of 0.25. The company has a market cap of $37.76 billion, a P/E ratio of 12.53, a PEG ratio of 1.33 and a beta of 2.66. The firm’s 50 day moving average price is $64.99 and its 200-day moving average price is $71.27. Block, Inc. has a 52-week low of $44.27 and a 52-week high of $94.25.

Block (NYSE:XYZ) last announced its earnings results on Thursday, November 6th. The technology company reported $0.54 earnings per share for the quarter, beating the consensus estimate of $0.25 by $0.29. The company had revenue of $6.11 billion during the quarter. Block had a net margin of 12.99% and a return on equity of 5.54%. Block’s revenue was up 2.3% on a year-over-year basis. During the same quarter last year, the business earned $0.53 earnings per share. On average, sell-side analysts predict 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.