8,567 Shares in Block, Inc. $XYZ Bought by CHICAGO TRUST Co NA

CHICAGO TRUST Co NA acquired a new stake in Block, Inc. (NYSE:XYZ) during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 8,567 shares of the technology company’s stock, valued at approximately $619,000.

Other hedge funds and other institutional investors also recently modified their holdings of the company. S Bank Fund Management Ltd purchased a new stake in shares of Block during the 2nd quarter valued at about $92,000. Praxis Investment Management Inc. purchased a new position in Block in the 2nd quarter worth approximately $508,000. Nordea Investment Management AB acquired a new stake in Block in the second quarter valued at approximately $3,105,000. SilverOak Wealth Management LLC purchased a new stake in shares of Block during the second quarter valued at approximately $218,000. Finally, Private Trust Co. NA purchased a new stake in shares of Block during the second quarter valued at approximately $94,000. Institutional investors and hedge funds own 70.44% of the company’s stock.

Block Stock Performance

Shares of XYZ stock opened at $65.33 on Monday. The stock has a market capitalization of $39.70 billion, a price-to-earnings ratio of 13.17, a PEG ratio of 2.59 and a beta of 2.65. Block, Inc. has a one year low of $44.27 and a one year high of $94.25. The company’s 50-day simple moving average is $67.99 and its 200-day simple moving average is $71.27. The company has a debt-to-equity ratio of 0.25, a quick ratio of 2.18 and a current ratio of 2.18.

Block (NYSE:XYZ) last announced its quarterly earnings data 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. Block had a return on equity of 5.54% and a net margin of 12.99%.The firm had revenue of $6.11 billion for the quarter. During the same quarter in the previous year, the company earned $0.53 EPS. The company’s quarterly revenue was up 2.3% compared to the same quarter last year. Equities analysts anticipate that Block, Inc. will post 2.54 earnings per share for the current fiscal year.

Insider Buying and Selling at Block

In other Block news, CAO Ajmere Dale sold 2,724 shares of the stock in a transaction on Friday, November 21st. The shares were sold at an average price of $61.40, for a total transaction of $167,253.60. Following the sale, the chief accounting officer directly owned 99,585 shares of the company’s stock, valued at approximately $6,114,519. This represents a 2.66% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Arnaud Weber sold 7,095 shares of Block stock in a transaction dated Friday, November 21st. The shares were sold at an average price of $61.40, for a total transaction of $435,633.00. Following the completion of the transaction, the insider directly owned 259,136 shares of the company’s stock, valued at $15,910,950.40. This trade represents a 2.66% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders sold 92,617 shares of company stock worth $6,474,580. 10.85% of the stock is owned by insiders.

Analysts Set New Price Targets

XYZ has been the subject of several analyst reports. Wells Fargo & Company upgraded shares of Block to a “strong-buy” rating in a research note on Wednesday, October 22nd. Royal Bank Of Canada reissued an “outperform” rating and issued a $90.00 price objective on shares of Block in a research report on Thursday, November 20th. Oppenheimer restated an “outperform” rating and set a $85.00 target price on shares of Block in a research note on Friday, November 7th. Morgan Stanley boosted their price target on Block from $71.00 to $72.00 and gave the stock an “equal weight” rating in a research note on Friday, November 21st. Finally, Stephens reissued an “overweight” rating and issued a $95.00 price target on shares of Block in a report on Thursday, November 20th. Three analysts have rated the stock with a Strong Buy rating, twenty-one have assigned a Buy rating, twelve have given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $83.42.

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.