Mn Services Vermogensbeheer B.V. Invests $7.36 Million in Block, Inc. $XYZ

Mn Services Vermogensbeheer B.V. acquired a new position in shares of Block, Inc. (NYSE:XYZ) in the 3rd quarter, Holdings Channel.com reports. The fund acquired 101,800 shares of the technology company’s stock, valued at approximately $7,357,000.

A number of other institutional investors and hedge funds have also recently bought and sold shares of XYZ. Traub Capital Management LLC purchased a new position in Block during the second quarter worth $26,000. Nemes Rush Group LLC acquired a new stake in shares of Block during the second quarter valued at $26,000. City Holding Co. purchased a new stake in Block during the 3rd quarter worth about $27,000. Cromwell Holdings LLC acquired a new position in Block in the 3rd quarter valued at about $27,000. Finally, SouthState Corp acquired a new position in Block in the 2nd quarter valued at about $29,000. Hedge funds and other institutional investors own 70.44% of the company’s stock.

Insider Buying and Selling

In other news, 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 value of $435,633.00. Following the transaction, the insider directly owned 259,136 shares of the company’s stock, valued at $15,910,950.40. The trade was a 2.66% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, insider Chrysty Esperanza sold 3,608 shares of the 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 $221,531.20. Following the sale, the insider directly owned 123,198 shares of the company’s stock, valued at approximately $7,564,357.20. This trade represents a 2.85% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders sold 54,796 shares of company stock worth $3,395,943. Corporate insiders own 10.49% of the company’s stock.

Block Stock Performance

NYSE:XYZ opened at $66.78 on Monday. The company has a market cap of $40.58 billion, a P/E ratio of 13.46, a P/E/G ratio of 1.40 and a beta of 2.66. The firm’s 50 day moving average is $64.66 and its two-hundred day moving average is $71.41. Block, Inc. has a fifty-two week low of $44.27 and a fifty-two week high of $94.25. 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 (NYSE:XYZ) last released its quarterly earnings data on Thursday, November 6th. The technology company reported $0.54 EPS for the quarter, topping analysts’ consensus estimates of $0.25 by $0.29. The business 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 company’s quarterly revenue was up 2.3% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.53 earnings per share. Analysts expect that Block, Inc. will post 2.54 EPS for the current year.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on the stock. Jefferies Financial Group raised their price target on shares of Block from $90.00 to $95.00 and gave the stock a “buy” rating in a research note on Tuesday, October 21st. Compass Point upgraded shares of Block from a “strong sell” rating to a “hold” rating in a research report on Friday, November 21st. Zacks Research cut shares of Block from a “strong-buy” rating to a “hold” rating in a research note on Monday, November 10th. Keefe, Bruyette & Woods reduced their price target on Block from $90.00 to $85.00 and set an “outperform” rating on the stock in a research note on Friday, January 2nd. Finally, Wells Fargo & Company upgraded Block to a “strong-buy” rating in a report on Wednesday, October 22nd. Three research analysts have rated the stock with a Strong Buy rating, twenty-two have assigned a Buy rating, nine have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $82.97.

Block Company 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.