DB Fitzpatrick & Co Inc Invests $1.48 Million in Block, Inc. $XYZ

DB Fitzpatrick & Co Inc purchased a new stake in shares of Block, Inc. (NYSE:XYZ) during the 3rd quarter, according to the company in its most recent filing with the SEC. The fund purchased 20,513 shares of the technology company’s stock, valued at approximately $1,482,000. Block comprises 1.3% of DB Fitzpatrick & Co Inc’s investment portfolio, making the stock its 20th biggest holding.

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

Insider Transactions at Block

In other Block news, insider Chrysty Esperanza sold 3,608 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 $221,531.20. Following the transaction, the insider directly owned 123,198 shares of the company’s stock, valued at $7,564,357.20. This trade represents a 2.85% decrease in their ownership of the stock. The transaction 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 business’s stock in a transaction dated Friday, November 21st. The stock was sold at an average price of $61.40, for a total transaction of $639,603.80. Following the sale, the insider directly owned 243,540 shares of the company’s stock, valued at $14,953,356. This represents a 4.10% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 92,617 shares of company stock worth $6,474,580 in the last ninety days. Company insiders own 10.85% of the company’s stock.

Block Stock Performance

NYSE XYZ 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. The stock has a 50-day moving average of $67.99 and a 200 day moving average of $71.27. The company has a current ratio of 2.18, a quick ratio of 2.18 and a debt-to-equity ratio of 0.25. Block, Inc. has a twelve month low of $44.27 and a twelve month high of $94.25.

Block (NYSE:XYZ) last issued its quarterly earnings data on Thursday, November 6th. The technology company reported $0.54 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 return on equity of 5.54% and a net margin of 12.99%.The firm’s revenue for the quarter was up 2.3% on a year-over-year basis. During the same period in the previous year, the business posted $0.53 earnings per share. Sell-side analysts anticipate that Block, Inc. will post 2.54 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of research firms recently issued reports on XYZ. The Goldman Sachs Group decreased their target price on shares of Block from $96.00 to $82.00 and set a “buy” rating for the company in a research report on Friday, November 7th. Morgan Stanley boosted their price objective on Block from $71.00 to $72.00 and gave the company an “equal weight” rating in a report on Friday, November 21st. Weiss Ratings restated a “hold (c)” rating on shares of Block in a research note on Monday, December 15th. KeyCorp reaffirmed an “overweight” rating and set a $94.00 target price on shares of Block in a report on Wednesday, October 22nd. Finally, Zacks Research cut Block from a “strong-buy” rating to a “hold” rating in a research report on Monday, November 10th. Three analysts have rated the stock with a Strong Buy rating, twenty-one have issued a Buy rating, twelve have assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $83.42.

Block 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.