Retireful LLC Takes Position in Block, Inc. $XYZ

Retireful LLC bought a new position in Block, Inc. (NYSE:XYZ) in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The firm bought 9,089 shares of the technology company’s stock, valued at approximately $657,000.

Other hedge funds also recently added to or reduced their stakes in the company. Traub Capital Management LLC purchased a new stake in Block in the 2nd quarter worth about $26,000. Nemes Rush Group LLC purchased a new position in Block in the 2nd quarter worth about $26,000. SouthState Corp purchased a new stake in Block in the 2nd quarter valued at about $29,000. First Horizon Advisors Inc. bought a new position in Block in the 2nd quarter worth about $30,000. Finally, Comprehensive Financial Planning Inc. PA purchased a new position in shares of Block during the second quarter worth approximately $31,000. 70.44% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

XYZ has been the subject of several research analyst reports. Citigroup raised shares of Block to a “strong-buy” rating in a research note on Thursday, October 23rd. Wells Fargo & Company upgraded Block to a “strong-buy” rating in a report on Wednesday, October 22nd. Jefferies Financial Group increased their price target on Block from $90.00 to $95.00 and gave the stock a “buy” rating in a research report on Tuesday, October 21st. Bank of America increased their target price on shares of Block from $86.00 to $88.00 and gave the stock a “buy” rating in a report on Friday, November 21st. Finally, BTIG Research restated a “buy” rating and issued a $90.00 price target 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 given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, Block has an average rating of “Moderate Buy” and an average price target of $83.42.

Block Stock Performance

XYZ stock opened at $66.26 on Monday. Block, Inc. has a one year low of $44.27 and a one year high of $94.25. The firm has a market cap of $40.26 billion, a price-to-earnings ratio of 13.36, a PEG ratio of 2.62 and a beta of 2.66. The company has a debt-to-equity ratio of 0.25, a quick ratio of 2.18 and a current ratio of 2.18. The firm has a 50-day simple moving average of $67.02 and a two-hundred day simple moving average of $71.30.

Block (NYSE:XYZ) last issued its quarterly earnings data on Thursday, November 6th. The technology company reported $0.54 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.25 by $0.29. Block had a net margin of 12.99% and a return on equity of 5.54%. The firm had revenue of $6.11 billion for the quarter. During the same period in the previous year, the firm earned $0.53 EPS. The firm’s quarterly revenue was up 2.3% on a year-over-year basis. On average, equities analysts forecast that Block, Inc. will post 2.54 EPS for the current fiscal year.

Insider Buying and Selling at Block

In other news, insider Arnaud Weber sold 7,095 shares of the company’s stock in a transaction on 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 directly owned 259,136 shares of the company’s stock, valued at approximately $15,910,950.40. This represents a 2.66% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CFO Amrita Ahuja sold 9,959 shares of the firm’s stock in a transaction on Friday, November 21st. The stock was sold at an average price of $61.40, for a total value of $611,482.60. Following the completion of the sale, the chief financial officer directly owned 272,965 shares of the company’s stock, valued at $16,760,051. The trade was a 3.52% decrease in their position. The SEC filing for this sale provides additional information. In the last 90 days, insiders sold 92,617 shares of company stock valued at $6,474,580. Corporate insiders own 10.49% of the company’s stock.

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.