20,744 Shares in Block, Inc. $XYZ Purchased by Centaurus Financial Inc.

Centaurus Financial Inc. acquired a new position in Block, Inc. (NYSE:XYZ) in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 20,744 shares of the technology company’s stock, valued at approximately $1,409,000.

Several other hedge funds have also recently modified their holdings of XYZ. Nemes Rush Group LLC purchased a new position in shares of Block in the 2nd quarter worth approximately $26,000. Traub Capital Management LLC bought a new stake in Block during the second quarter worth $26,000. SouthState Corp bought a new stake in Block during the second quarter worth $29,000. First Horizon Advisors Inc. purchased a new position in Block in the second quarter worth $30,000. Finally, Comprehensive Financial Planning Inc. PA bought a new position in Block in the 2nd quarter valued at $31,000. Institutional investors own 70.44% of the company’s stock.

Insider Activity

In related news, insider Brian Grassadonia sold 8,085 shares of the stock in a transaction dated Monday, November 24th. The stock was sold at an average price of $61.96, for a total transaction of $500,946.60. Following the sale, the insider owned 521,352 shares of the company’s stock, valued at approximately $32,302,969.92. This represents a 1.53% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Owen Britton Jennings sold 10,417 shares of the firm’s stock in a transaction dated Friday, November 21st. The stock was sold at an average price of $61.40, for a total value of $639,603.80. Following the completion of the transaction, the insider owned 243,540 shares of the company’s stock, valued at approximately $14,953,356. This represents a 4.10% decrease in their position. The SEC filing for this sale provides additional information. Over the last quarter, insiders have sold 99,198 shares of company stock valued at $6,968,155. 10.49% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

A number of equities research analysts have recently commented on XYZ shares. Mizuho lifted their target price on Block from $88.00 to $100.00 and gave the stock an “outperform” rating in a research note on Thursday, November 20th. Weiss Ratings restated a “hold (c)” rating on shares of Block in a report on Monday, December 8th. Piper Sandler lowered their price objective on shares of Block from $58.00 to $55.00 and set an “underweight” rating on the stock in a research report on Friday, November 7th. Zacks Research cut shares of Block from a “strong-buy” rating to a “hold” rating in a research note on Monday, November 10th. Finally, Needham & Company LLC restated a “buy” rating and set a $80.00 price target on shares of Block in a research note on Monday, November 24th. Three investment analysts have rated the stock with a Strong Buy rating, twenty-one have given a Buy rating, twelve have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $83.42.

Block Price Performance

Shares of NYSE:XYZ opened at $64.74 on Monday. The firm has a market capitalization of $39.34 billion, a PE ratio of 13.05, a P/E/G ratio of 2.57 and a beta of 2.66. 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 has a 50-day moving average price of $69.42 and a two-hundred day moving average price of $71.20. Block, Inc. has a twelve month low of $44.27 and a twelve month high of $95.78.

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

About Block

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.