Weinberger Asset Management Inc Acquires Shares of 22,646 Block, Inc. $XYZ

Weinberger Asset Management Inc bought a new stake in Block, Inc. (NYSE:XYZ) in the 3rd quarter, Holdings Channel.com reports. The firm bought 22,646 shares of the technology company’s stock, valued at approximately $1,637,000.

A number of other large investors have also recently made changes to their positions in the company. Traub Capital Management LLC acquired a new stake in shares of Block in the second quarter valued at approximately $26,000. Nemes Rush Group LLC acquired a new stake in Block during the 2nd quarter worth $26,000. SouthState Corp purchased a new position in Block during the 2nd quarter worth $29,000. First Horizon Advisors Inc. acquired a new position in Block in the second quarter valued at $30,000. Finally, Comprehensive Financial Planning Inc. PA purchased a new stake in shares of Block in the second quarter valued at about $31,000. 70.44% of the stock is owned by institutional investors and hedge funds.

Block Trading Up 2.0%

Shares of XYZ opened at $66.21 on Thursday. Block, Inc. has a twelve month low of $44.27 and a twelve month high of $94.25. The company has a current ratio of 2.18, a quick ratio of 2.18 and a debt-to-equity ratio of 0.25. The firm has a market capitalization of $40.23 billion, a P/E ratio of 13.35, a PEG ratio of 2.58 and a beta of 2.65. The firm’s 50-day moving average is $67.37 and its two-hundred day moving average is $71.24.

Block (NYSE:XYZ) last announced its quarterly earnings results on Thursday, November 6th. The technology company reported $0.54 EPS for the quarter, topping the consensus estimate of $0.25 by $0.29. The business 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%.Block’s revenue was up 2.3% compared to the same quarter last year. During the same period last year, the firm earned $0.53 EPS. On average, research analysts predict that Block, Inc. will post 2.54 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, insider Brian Grassadonia sold 8,085 shares of the stock in a transaction dated Monday, November 24th. The shares were sold at an average price of $61.96, for a total value of $500,946.60. Following the sale, the insider directly 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 legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Arnaud Weber sold 7,095 shares of Block stock in a transaction dated Friday, November 21st. The stock was sold at an average price of $61.40, for a total transaction of $435,633.00. Following the transaction, the insider owned 259,136 shares of the company’s stock, valued at approximately $15,910,950.40. The trade was a 2.66% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold 92,617 shares of company stock valued at $6,474,580 in the last three months. 10.85% of the stock is owned by insiders.

Wall Street Analyst Weigh In

XYZ has been the topic of a number of research reports. Canaccord Genuity Group reissued a “buy” rating and set a $80.00 price target on shares of Block in a report on Tuesday, September 23rd. Bank of America boosted their target price on Block from $86.00 to $88.00 and gave the company a “buy” rating in a report on Friday, November 21st. BNP Paribas lowered shares of Block from a “strong-buy” rating to a “hold” rating and set a $86.00 price objective on the stock. in a research report on Tuesday, September 2nd. Citigroup raised shares of Block to a “strong-buy” rating in a report on Thursday, October 23rd. Finally, Wells Fargo & Company raised Block to a “strong-buy” rating in a report on Wednesday, October 22nd. 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 given a Sell rating to the stock. Based on data from MarketBeat.com, Block currently has a consensus rating of “Moderate Buy” and a consensus target price 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.