Block, Inc. $XYZ Shares Sold by Wealth Enhancement Advisory Services LLC

Wealth Enhancement Advisory Services LLC reduced its position in shares of Block, Inc. (NYSE:XYZ) by 39.4% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 62,294 shares of the technology company’s stock after selling 40,555 shares during the period. Wealth Enhancement Advisory Services LLC’s holdings in Block were worth $4,361,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. City Holding Co. acquired a new stake in Block in the third quarter valued at $27,000. Cromwell Holdings LLC purchased a new stake in Block during the 3rd quarter worth about $27,000. Cary Street Partners Investment Advisory LLC purchased a new position in shares of Block in the 3rd quarter valued at about $28,000. Quent Capital LLC purchased a new position in shares of Block in the 3rd quarter valued at about $30,000. Finally, RMG Wealth Management LLC acquired a new stake in shares of Block during the 3rd quarter worth about $30,000. Institutional investors and hedge funds own 70.44% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts recently weighed in on XYZ shares. Weiss Ratings restated a “hold (c)” rating on shares of Block in a research note on Friday. Keefe, Bruyette & Woods dropped their price target on shares of Block from $90.00 to $85.00 and set an “outperform” rating on the stock in a research note on Friday, January 2nd. TD Cowen raised their price objective on shares of Block from $91.00 to $95.00 and gave the stock a “buy” rating in a report on Friday, February 27th. Wall Street Zen downgraded shares of Block from a “buy” rating to a “hold” rating in a research report on Saturday. Finally, Royal Bank Of Canada restated an “outperform” rating and issued a $90.00 target price on shares of Block in a report on Tuesday, March 17th. Three analysts have rated the stock with a Strong Buy rating, twenty-six have assigned a Buy rating, eight have given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $81.91.

Insider Buying and Selling at Block

In related news, CFO Amrita Ahuja sold 1,101 shares of the stock in a transaction on Friday, January 2nd. The shares were sold at an average price of $63.98, for a total transaction of $70,441.98. Following the completion of the sale, the chief financial officer owned 271,864 shares in the company, valued at $17,393,858.72. This represents a 0.40% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CAO Ajmere Dale sold 1,173 shares of the firm’s stock in a transaction on Friday, January 2nd. The stock was sold at an average price of $65.09, for a total transaction of $76,350.57. Following the transaction, the chief accounting officer directly owned 98,412 shares in the company, valued at $6,405,637.08. The trade was a 1.18% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 20,352 shares of company stock worth $1,165,720 in the last 90 days. Company insiders own 10.49% of the company’s stock.

Block Trading Up 1.9%

NYSE:XYZ opened at $57.04 on Tuesday. The company has a market capitalization of $34.17 billion, a PE ratio of 27.16, a P/E/G ratio of 0.96 and a beta of 2.64. Block, Inc. has a 52-week low of $44.27 and a 52-week high of $82.50. The stock’s 50 day moving average price is $58.99 and its 200 day moving average price is $65.87. The company has a quick ratio of 2.20, a current ratio of 2.20 and a debt-to-equity ratio of 0.26.

Block (NYSE:XYZ) last issued its quarterly earnings data on Thursday, February 26th. The technology company reported $0.65 earnings per share for the quarter, beating analysts’ consensus estimates of $0.26 by $0.39. The company had revenue of $6.25 billion during the quarter. Block had a return on equity of 6.66% and a net margin of 5.40%.Block’s quarterly revenue was up 3.6% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.71 EPS. On average, research analysts anticipate that Block, Inc. will post 2.54 EPS for the current year.

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.