41,968 Shares in Block, Inc. $XYZ Purchased by Elo Mutual Pension Insurance Co

Elo Mutual Pension Insurance Co purchased a new position in shares of Block, Inc. (NYSE:XYZ) in the 2nd quarter, according to the company in its most recent filing with the SEC. The fund purchased 41,968 shares of the technology company’s stock, valued at approximately $2,851,000.

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

Block Stock Performance

Shares of XYZ opened at $65.11 on Thursday. The stock has a market capitalization of $39.57 billion, a price-to-earnings ratio of 13.13, a PEG ratio of 3.57 and a beta of 2.73. Block, Inc. has a 12 month low of $44.27 and a 12 month high of $99.26. The firm has a fifty day simple moving average of $72.46 and a 200 day simple moving average of $70.72. 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 (NYSE:XYZ) last issued its quarterly earnings results 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 firm had revenue of $6.11 billion during the quarter. Block had a return on equity of 5.54% and a net margin of 12.99%.The business’s revenue for the quarter was up 2.3% on a year-over-year basis. During the same period last year, the company posted $0.53 earnings per share. Research analysts forecast that Block, Inc. will post 2.54 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on XYZ shares. Piper Sandler reduced their target price on Block from $58.00 to $55.00 and set an “underweight” rating on the stock in a report on Friday, November 7th. Raymond James Financial restated an “outperform” rating and set a $95.00 price objective (up previously from $79.00) on shares of Block in a report on Friday, August 8th. Stephens reaffirmed an “overweight” rating and issued a $95.00 target price on shares of Block in a research note on Thursday, November 20th. Bank of America lifted their price target on shares of Block from $86.00 to $88.00 and gave the stock a “buy” rating in a research report on Friday, November 21st. Finally, Citigroup raised shares of Block to a “strong-buy” rating in a report on Thursday, October 23rd. Three research 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 given a Sell rating to the company. According to data from MarketBeat.com, Block presently has a consensus rating of “Moderate Buy” and an average target price of $83.42.

Insider Activity at Block

In other Block news, insider Chrysty Esperanza sold 3,608 shares of the company’s stock in a transaction on Friday, November 21st. The shares were sold at an average price of $61.40, for a total value of $221,531.20. Following the transaction, the insider directly owned 123,198 shares in the company, valued at $7,564,357.20. The trade was a 2.85% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Owen Britton Jennings sold 10,417 shares of the company’s stock in a transaction dated Friday, November 21st. The shares were sold at an average price of $61.40, for a total transaction of $639,603.80. Following the completion of the transaction, the insider owned 243,540 shares in the company, valued at approximately $14,953,356. This trade represents a 4.10% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 108,958 shares of company stock worth $7,712,257 in the last three months. 10.85% of the stock is owned by company insiders.

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.