74,312 Shares in Block, Inc. $XYZ Acquired by Swedbank AB

Swedbank AB acquired a new stake in Block, Inc. (NYSE:XYZ) during the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 74,312 shares of the technology company’s stock, valued at approximately $5,371,000.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in XYZ. Optas LLC bought a new position in shares of Block in the 3rd quarter valued at $4,250,000. IFM Investors Pty Ltd bought a new position in Block in the third quarter valued at about $7,557,000. Key Client Fiduciary Advisors LLC bought a new position in Block in the third quarter valued at about $568,000. Yousif Capital Management LLC acquired a new position in Block during the third quarter worth about $4,335,000. Finally, Trust Co. of Vermont bought a new position in shares of Block in the third quarter worth about $46,000. 70.44% of the stock is currently owned by institutional investors.

Block Stock Performance

NYSE XYZ opened at $66.26 on Friday. The company has a market capitalization of $40.26 billion, a price-to-earnings ratio of 13.36, a PEG ratio of 2.62 and a beta of 2.65. The company has a quick ratio of 2.18, a current 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. The stock has a fifty day simple moving average of $67.02 and a 200 day simple moving average of $71.25.

Block (NYSE:XYZ) last announced its 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 firm 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 quarterly revenue was up 2.3% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.53 earnings per share. Sell-side analysts expect that Block, Inc. will post 2.54 EPS for the current year.

Insiders Place Their Bets

In other Block news, CAO Ajmere Dale sold 2,724 shares of the stock in a transaction that occurred 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 completion of the sale, the chief accounting officer owned 99,585 shares of the company’s stock, valued at approximately $6,114,519. This represents a 2.66% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Owen Britton Jennings sold 10,417 shares of the business’s stock in a transaction that occurred on Friday, November 21st. The stock was 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 $14,953,356. This trade represents a 4.10% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 92,617 shares of company stock valued at $6,474,580 over the last three months. Insiders own 10.85% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on XYZ shares. Needham & Company LLC reaffirmed a “buy” rating and set a $80.00 price target on shares of Block in a report on Monday, November 24th. BNP Paribas cut shares of Block from a “strong-buy” rating to a “hold” rating and set a $86.00 target price on the stock. in a research note on Tuesday, September 2nd. Truist Financial upgraded Block from a “sell” rating to a “hold” rating in a research note on Monday, November 17th. Zacks Research downgraded Block from a “strong-buy” rating to a “hold” rating in a report on Monday, November 10th. Finally, BTIG Research reaffirmed a “buy” rating and issued a $90.00 target price 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 given a Buy rating, twelve have assigned a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, Block currently has a consensus rating of “Moderate Buy” and a consensus target price of $83.42.

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.