Metis Global Partners LLC Grows Stock Holdings in Block, Inc. $XYZ

Metis Global Partners LLC grew its position in shares of Block, Inc. (NYSE:XYZ) by 144.8% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 20,098 shares of the technology company’s stock after purchasing an additional 11,888 shares during the quarter. Metis Global Partners LLC’s holdings in Block were worth $1,452,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. Sumitomo Mitsui DS Asset Management Company Ltd bought a new stake in shares of Block in the 3rd quarter worth approximately $5,383,000. Cibc World Market Inc. raised its stake in Block by 24.0% during the third quarter. Cibc World Market Inc. now owns 179,271 shares of the technology company’s stock valued at $12,956,000 after buying an additional 34,678 shares during the last quarter. New York Life Investment Management LLC purchased a new position in Block during the third quarter valued at $5,400,000. Motley Fool Asset Management LLC bought a new stake in Block in the second quarter worth $2,055,000. Finally, Principal Financial Group Inc. grew its stake in shares of Block by 2,385.3% in the third quarter. Principal Financial Group Inc. now owns 612,358 shares of the technology company’s stock worth $44,255,000 after acquiring an additional 587,719 shares during the last quarter. 70.44% of the stock is owned by hedge funds and other institutional investors.

Block Stock Up 1.6%

Shares of Block stock opened at $49.89 on Monday. Block, Inc. has a twelve month low of $44.27 and a twelve month high of $85.55. 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’s 50 day moving average is $63.35 and its 200 day moving average is $69.67. The company has a market cap of $30.32 billion, a price-to-earnings ratio of 10.06, a price-to-earnings-growth ratio of 1.02 and a beta of 2.67.

Insider Transactions at Block

In other Block news, CFO Amrita Ahuja sold 9,959 shares of the business’s stock in a transaction dated Friday, November 21st. The stock was sold at an average price of $61.40, for a total transaction of $611,482.60. Following the completion of the sale, the chief financial officer directly owned 272,965 shares in the company, valued at $16,760,051. The trade was a 3.52% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Owen Britton Jennings sold 10,417 shares of the stock in a transaction that occurred on Friday, November 21st. The stock was sold at an average price of $61.40, for a total transaction of $639,603.80. Following the completion of the transaction, the insider owned 243,540 shares in the company, valued at $14,953,356. This trade represents a 4.10% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders sold 54,796 shares of company stock worth $3,395,943. Company insiders own 10.49% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on the company. KeyCorp reaffirmed an “overweight” rating and issued a $94.00 price target on shares of Block in a research report on Wednesday, October 22nd. Stephens restated an “overweight” rating and set a $95.00 price objective on shares of Block in a research note on Thursday, November 20th. Piper Sandler dropped their target price on shares of Block from $55.00 to $51.00 and set an “underweight” rating on the stock in a research note on Wednesday, January 14th. Truist Financial set a $72.00 price target on shares of Block in a research report on Tuesday, January 20th. Finally, Royal Bank Of Canada restated an “outperform” rating and issued a $90.00 price objective on shares of Block in a report on Thursday, November 20th. Three equities research analysts have rated the stock with a Strong Buy rating, twenty-three have issued a Buy rating, nine have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $82.48.

Block 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.