Robeco Institutional Asset Management B.V. Purchases New Position in Block, Inc. $XYZ

Robeco Institutional Asset Management B.V. acquired a new position in Block, Inc. (NYSE:XYZ) in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 447,346 shares of the technology company’s stock, valued at approximately $32,330,000. Robeco Institutional Asset Management B.V. owned 0.07% of Block as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also modified their holdings of the company. City Holding Co. purchased a new stake in shares of Block in the third quarter valued at approximately $27,000. Nemes Rush Group LLC purchased a new position in shares of Block during the 2nd quarter valued at approximately $26,000. Traub Capital Management LLC acquired a new stake in Block in the 2nd quarter valued at $26,000. SouthState Corp acquired a new stake in Block in the 2nd quarter valued at $29,000. Finally, First Horizon Advisors Inc. purchased a new stake in Block in the 2nd quarter worth $30,000. 70.44% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In related news, insider Chrysty Esperanza sold 3,608 shares of the stock in a transaction on Friday, November 21st. The stock was sold at an average price of $61.40, for a total value of $221,531.20. Following the transaction, the insider owned 123,198 shares of the company’s stock, valued at $7,564,357.20. This represents a 2.85% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CFO Amrita Ahuja sold 9,959 shares of the company’s stock in a transaction dated Friday, November 21st. The stock was sold at an average price of $61.40, for a total value of $611,482.60. Following the transaction, the chief financial officer directly owned 272,965 shares of the company’s stock, valued at approximately $16,760,051. This represents a 3.52% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last quarter, insiders have sold 54,796 shares of company stock valued at $3,395,943. Insiders own 10.85% of the company’s stock.

Block Price Performance

Shares of XYZ opened at $71.52 on Thursday. The company has a market cap of $43.46 billion, a P/E ratio of 14.42, a PEG ratio of 1.29 and a beta of 2.66. 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. The firm’s 50 day moving average price is $65.25 and its 200 day moving average price is $71.45.

Block (NYSE:XYZ) last announced its quarterly earnings data on Thursday, November 6th. The technology company reported $0.54 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.25 by $0.29. Block had a return on equity of 5.54% and a net margin of 12.99%.The business had revenue of $6.11 billion during the quarter. During the same quarter in the previous year, the business posted $0.53 EPS. The business’s quarterly revenue was up 2.3% compared to the same quarter last year. On average, research analysts forecast that Block, Inc. will post 2.54 earnings per share for the current fiscal year.

Analysts Set New Price Targets

XYZ has been the topic of a number of research analyst reports. Wells Fargo & Company raised Block to a “strong-buy” rating in a research note on Wednesday, October 22nd. BNP Paribas Exane upgraded Block from a “neutral” rating to an “outperform” rating and set a $83.00 target price on the stock in a research report on Wednesday. Bank of America increased their price target on Block from $86.00 to $88.00 and gave the stock a “buy” rating in a report on Friday, November 21st. Zacks Research downgraded Block from a “strong-buy” rating to a “hold” rating in a research report on Monday, November 10th. Finally, BNP Paribas raised shares of Block from a “hold” rating to an “outperform” rating and set a $83.00 target price on the stock in a research report on Wednesday. Three investment analysts have rated the stock with a Strong Buy rating, twenty-three have assigned a Buy rating, ten have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, Block presently has an average rating of “Moderate Buy” and an average price target of $82.94.

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.