8,752 Shares in Block, Inc. $XYZ Purchased by Barings LLC

Barings LLC bought a new position in Block, Inc. (NYSE:XYZ) in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The fund bought 8,752 shares of the technology company’s stock, valued at approximately $595,000.

Several other hedge funds and other institutional investors have also bought and sold shares of the stock. Vanguard Group Inc. purchased a new stake in shares of Block during the 2nd quarter valued at about $3,730,489,000. Geode Capital Management LLC bought a new position in Block during the second quarter valued at approximately $634,721,000. ARK Investment Management LLC purchased a new stake in Block in the second quarter worth approximately $210,016,000. Sumitomo Mitsui Trust Group Inc. purchased a new stake in Block in the second quarter worth approximately $204,223,000. Finally, Legal & General Group Plc bought a new stake in Block in the 2nd quarter worth approximately $189,211,000. Institutional investors own 70.44% of the company’s stock.

Insider Activity at Block

In other Block news, insider Brian Grassadonia sold 35,145 shares of Block stock in a transaction that occurred on 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 transaction, the insider owned 535,896 shares of the company’s stock, valued at $42,871,680. The trade was a 6.15% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Chrysty Esperanza sold 406 shares of the stock in a transaction on Thursday, October 2nd. The stock was sold at an average price of $74.77, for a total transaction of $30,356.62. Following the completion of the sale, the insider directly owned 126,806 shares of the company’s stock, valued at approximately $9,481,284.62. This trade represents a 0.32% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 60,610 shares of company stock worth $4,739,162 in the last 90 days. Insiders own 10.49% of the company’s stock.

Block Stock Performance

NYSE:XYZ opened at $61.88 on Monday. The company has a debt-to-equity ratio of 0.25, a quick ratio of 2.18 and a current ratio of 2.18. The stock has a 50-day simple moving average of $73.17 and a two-hundred day simple moving average of $70.58. The firm has a market capitalization of $37.60 billion, a PE ratio of 12.48, a P/E/G ratio of 3.47 and a beta of 2.73. Block, Inc. has a 52-week low of $44.27 and a 52-week high of $99.26.

Block (NYSE:XYZ) last posted its quarterly earnings data on Thursday, November 6th. The technology company reported $0.54 EPS for the quarter, topping the consensus estimate of $0.25 by $0.29. The firm had revenue of $6.11 billion for the quarter. Block had a return on equity of 5.54% and a net margin of 12.99%.The firm’s quarterly revenue was up 2.3% compared to the same quarter last year. During the same period last year, the business earned $0.53 EPS. Analysts forecast that Block, Inc. will post 2.54 EPS for the current year.

Analyst Ratings Changes

XYZ has been the topic of several research analyst reports. BNP Paribas Exane cut Block from an “outperform” rating to a “neutral” rating and set a $86.00 price target on the stock. in a report on Tuesday, September 2nd. Truist Financial upgraded Block from a “sell” rating to a “hold” rating in a research report on Monday, November 17th. Morgan Stanley reissued a “positive” rating and issued a $72.00 target price on shares of Block in a research report on Friday. Royal Bank Of Canada restated an “outperform” rating and set a $90.00 price target on shares of Block in a research note on Thursday. Finally, Zacks Research lowered shares of Block from a “strong-buy” rating to a “hold” rating in a research report on Monday, November 10th. Three research analysts have rated the stock with a Strong Buy rating, twenty-one have assigned a Buy rating, eleven have issued a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat.com, Block presently has a consensus rating of “Moderate Buy” and a consensus price target of $83.42.

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.