CenterBook Partners LP Has $1.66 Million Stock Holdings in Block, Inc. $XYZ

CenterBook Partners LP lifted its position in Block, Inc. (NYSE:XYZ) by 252.0% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 22,978 shares of the technology company’s stock after buying an additional 16,451 shares during the quarter. CenterBook Partners LP’s holdings in Block were worth $1,661,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also modified their holdings of the company. Cromwell Holdings LLC acquired a new position in Block during the 3rd quarter worth $27,000. City Holding Co. acquired a new stake in shares of Block in the third quarter valued at about $27,000. Nemes Rush Group LLC bought a new position in shares of Block in the second quarter worth about $26,000. Traub Capital Management LLC bought a new position in shares of Block in the second quarter worth about $26,000. Finally, RMG Wealth Management LLC acquired a new position in shares of Block during the 3rd quarter worth about $30,000. 70.44% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of analysts have issued reports on XYZ shares. Needham & Company LLC reaffirmed a “buy” rating and issued a $80.00 target price on shares of Block in a report on Monday, November 24th. 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. Stephens restated an “overweight” rating and issued a $95.00 price objective on shares of Block in a research note on Thursday, November 20th. Weiss Ratings reiterated a “hold (c)” rating on shares of Block in a research note on Monday, December 29th. Finally, Bank of America increased their price target on shares of Block from $86.00 to $88.00 and gave the company a “buy” rating in a report on Friday, November 21st. Two investment analysts have rated the stock with a Strong Buy rating, twenty-four have assigned a Buy rating, nine have issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, Block currently has an average rating of “Moderate Buy” and a consensus price target of $81.97.

Insider Buying and Selling

In other news, CFO Amrita Ahuja sold 1,101 shares of the business’s stock in a transaction on Friday, January 2nd. The shares were sold at an average price of $63.98, for a total value of $70,441.98. Following the sale, the chief financial officer owned 271,864 shares in the company, valued at approximately $17,393,858.72. The trade was a 0.40% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, 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 $32,302,969.92. This trade represents a 1.53% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 14,533 shares of company stock valued at $923,794 in the last ninety days. Insiders own 10.85% of the company’s stock.

Block Price Performance

Block stock opened at $52.85 on Friday. The business has a 50 day simple moving average of $62.51 and a 200 day simple moving average of $69.09. The company has a debt-to-equity ratio of 0.25, a current ratio of 2.18 and a quick ratio of 2.18. The company has a market capitalization of $32.12 billion, a PE ratio of 10.66, a price-to-earnings-growth ratio of 1.10 and a beta of 2.67. Block, Inc. has a one year low of $44.27 and a one year high of $85.55.

About Block

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.