895 Shares in Block, Inc. $XYZ Acquired by Hantz Financial Services Inc.

Hantz Financial Services Inc. purchased a new position in Block, Inc. (NYSE:XYZ) during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund purchased 895 shares of the technology company’s stock, valued at approximately $61,000.

A number of other hedge funds and other institutional investors have also recently modified their holdings of XYZ. ARK Investment Management LLC acquired a new position in shares of Block in the 2nd quarter worth approximately $210,016,000. Sumitomo Mitsui Trust Group Inc. bought a new stake in shares of Block in the 2nd quarter valued at $204,223,000. Bessemer Group Inc. bought a new stake in shares of Block in the 2nd quarter valued at $62,389,000. DekaBank Deutsche Girozentrale bought a new stake in shares of Block in the 2nd quarter valued at $36,353,000. Finally, Envestnet Asset Management Inc. bought a new stake in shares of Block in the 2nd quarter valued at $17,156,000. Institutional investors and hedge funds own 70.44% of the company’s stock.

Insider Buying and Selling at Block

In other Block news, insider Brian Grassadonia sold 35,145 shares of the company’s stock in a transaction dated Wednesday, October 8th. The shares were sold at an average price of $80.00, for a total transaction of $2,811,600.00. Following the sale, the insider directly owned 535,896 shares of the company’s stock, valued at $42,871,680. This represents a 6.15% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Owen Britton Jennings sold 1,050 shares of the company’s stock in a transaction dated Thursday, October 2nd. The shares were sold at an average price of $74.77, for a total value of $78,508.50. Following the sale, the insider owned 253,956 shares in the company, valued at approximately $18,988,290.12. This represents a 0.41% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders sold 119,441 shares of company stock valued at $9,085,327. Insiders own 10.85% of the company’s stock.

Analysts Set New Price Targets

XYZ has been the subject of a number of recent research reports. BNP Paribas Exane lowered shares of Block from an “outperform” rating to a “neutral” rating and set a $86.00 price target for the company. in a research note on Tuesday, September 2nd. Piper Sandler restated an “underweight” rating and set a $58.00 price target (up previously from $50.00) on shares of Block in a research note on Friday, August 8th. Keefe, Bruyette & Woods boosted their price target on shares of Block from $80.00 to $95.00 and gave the company an “outperform” rating in a research note on Friday, August 8th. Zacks Research upgraded shares of Block from a “hold” rating to a “strong-buy” rating in a research note on Monday, October 13th. Finally, Bank of America boosted their price target on shares of Block from $88.00 to $94.00 and gave the company a “buy” rating in a research note on Friday, August 8th. Four equities research analysts have rated the stock with a Strong Buy rating, twenty-two have given a Buy rating, nine have given a Hold rating and three have issued a Sell rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $82.42.

Block Price Performance

NYSE XYZ opened at $73.65 on Thursday. The company has a market cap of $44.90 billion, a PE ratio of 15.77, a price-to-earnings-growth ratio of 2.96 and a beta of 2.73. Block, Inc. has a 52 week low of $44.27 and a 52 week high of $99.26. The company has a quick ratio of 1.96, a current ratio of 1.96 and a debt-to-equity ratio of 0.16. The firm’s 50-day simple moving average is $76.28 and its two-hundred day simple moving average is $69.68.

Block (NYSE:XYZ) last released its quarterly earnings data on Thursday, August 7th. The technology company reported $0.62 EPS for the quarter, beating the consensus estimate of $0.21 by $0.41. The business had revenue of $6.05 billion for the quarter, compared to the consensus estimate of $6.32 billion. Block had a net margin of 12.32% and a return on equity of 7.85%. Block’s revenue for the quarter was down 1.6% on a year-over-year basis. Research analysts predict that Block, Inc. will post 2.54 earnings per share for the current year.

Block Company Profile

Square, Inc provides payment and point-of-sale solutions in the United States and internationally. The company's commerce ecosystem includes point-of-sale software and hardware that enables sellers to turn mobile and computing devices into payment and point-of-sale solutions. It offers hardware products, including Magstripe reader, which enables swiped transactions of magnetic stripe cards; Contactless and chip reader that accepts EMV® chip cards and Near Field Communication payments; Chip card reader, which accepts EMV® chip cards and enables swiped transactions of magnetic stripe cards; Square Stand, which enables an iPad to be used as a payment terminal or full point of sale solution; and Square Register that combines its hardware, point-of-sale software, and payments technology, as well as managed payments solutions.