Y.D. More Investments Ltd Has $795,000 Position in Block, Inc. $XYZ

Y.D. More Investments Ltd cut its position in Block, Inc. (NYSE:XYZ) by 48.2% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 12,207 shares of the technology company’s stock after selling 11,349 shares during the quarter. Y.D. More Investments Ltd’s holdings in Block were worth $795,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. City Holding Co. bought a new stake in shares of Block in the third quarter valued at about $27,000. Cromwell Holdings LLC acquired a new position in shares of Block in the third quarter valued at about $27,000. Cary Street Partners Investment Advisory LLC bought a new position in Block during the third quarter worth about $28,000. Quent Capital LLC bought a new position in Block during the third quarter worth about $30,000. Finally, RMG Wealth Management LLC acquired a new stake in Block in the 3rd quarter worth about $30,000. 70.44% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of analysts have issued reports on XYZ shares. Weiss Ratings reissued a “hold (c)” rating on shares of Block in a report on Friday, March 27th. Morgan Stanley upgraded shares of Block from an “equal weight” rating to an “overweight” rating and lifted their price target for the company from $72.00 to $93.00 in a research report on Friday, February 27th. Royal Bank Of Canada reiterated an “outperform” rating and issued a $90.00 price target on shares of Block in a research note on Tuesday, March 17th. Citigroup reduced their price target on Block from $105.00 to $85.00 and set a “buy” rating on the stock in a research report on Thursday, February 5th. Finally, Cantor Fitzgerald restated an “overweight” rating and set a $70.00 price objective on shares of Block in a research note on Friday, February 27th. Three analysts have rated the stock with a Strong Buy rating, twenty-seven have issued a Buy rating, eight have issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, Block presently has an average rating of “Moderate Buy” and an average price target of $81.72.

Block Price Performance

XYZ stock opened at $60.67 on Tuesday. 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, Inc. has a 12 month low of $44.27 and a 12 month high of $82.50. The firm has a market cap of $36.35 billion, a P/E ratio of 28.89, a P/E/G ratio of 1.03 and a beta of 2.61. The company’s 50-day moving average price is $58.50 and its two-hundred day moving average price is $65.33.

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

Insider Activity at Block

In other news, insider Owen Britton Jennings sold 3,555 shares of the business’s stock in a transaction on Tuesday, March 3rd. The stock was sold at an average price of $63.41, for a total transaction of $225,422.55. Following the completion of the transaction, the insider owned 231,262 shares of the company’s stock, valued at approximately $14,664,323.42. The trade was a 1.51% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Brian Grassadonia sold 10,349 shares of the company’s stock in a transaction on Tuesday, February 24th. The stock was sold at an average price of $50.00, for a total value of $517,450.00. Following the sale, the insider owned 503,784 shares of the company’s stock, valued at approximately $25,189,200. This represents a 2.01% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 10.85% of the stock is owned by insiders.

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.