59,573 Shares in Block, Inc. $XYZ Purchased by Mutual of America Capital Management LLC

Mutual of America Capital Management LLC bought a new stake in Block, Inc. (NYSE:XYZ) during the third quarter, HoldingsChannel reports. The fund bought 59,573 shares of the technology company’s stock, valued at approximately $4,305,000.

A number of other institutional investors also recently bought and sold shares of the business. Whittier Trust Co. of Nevada Inc. boosted its holdings in shares of Block by 23.1% in the 3rd quarter. Whittier Trust Co. of Nevada Inc. now owns 853 shares of the technology company’s stock valued at $66,000 after acquiring an additional 160 shares during the last quarter. Vista Investment Partners II LLC lifted its position in Block by 3.6% during the third quarter. Vista Investment Partners II LLC now owns 5,334 shares of the technology company’s stock valued at $385,000 after purchasing an additional 184 shares during the period. Wilmington Savings Fund Society FSB lifted its position in Block by 5.4% during the third quarter. Wilmington Savings Fund Society FSB now owns 4,332 shares of the technology company’s stock valued at $313,000 after purchasing an additional 220 shares during the period. Avidian Wealth Enterprises LLC boosted its holdings in Block by 6.5% in the third quarter. Avidian Wealth Enterprises LLC now owns 4,739 shares of the technology company’s stock valued at $342,000 after purchasing an additional 291 shares during the last quarter. Finally, Harel Insurance Investments & Financial Services Ltd. grew its position in Block by 5.6% during the 3rd quarter. Harel Insurance Investments & Financial Services Ltd. now owns 6,101 shares of the technology company’s stock worth $440,000 after purchasing an additional 321 shares during the period. 70.44% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In related news, CFO Amrita Ahuja sold 1,101 shares of Block stock in a transaction dated Friday, January 2nd. The stock was sold at an average price of $63.98, for a total transaction of $70,441.98. Following the sale, the chief financial officer directly owned 271,864 shares of the company’s stock, valued at $17,393,858.72. This trade represents a 0.40% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Chrysty Esperanza sold 3,608 shares of the company’s stock in a transaction that occurred on Friday, November 21st. The shares were sold at an average price of $61.40, for a total value of $221,531.20. Following the completion of the transaction, 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. The disclosure for this sale is available in the SEC filing. Insiders have sold 54,796 shares of company stock valued at $3,395,943 in the last quarter. 10.85% of the stock is currently owned by insiders.

Analyst Ratings Changes

A number of brokerages have recently commented on XYZ. Jefferies Financial Group upped their target price on Block from $90.00 to $95.00 and gave the stock a “buy” rating in a research note on Tuesday, October 21st. Truist Financial set a $72.00 price objective on Block in a research report on Tuesday, January 20th. Mizuho raised their price objective on shares of Block from $88.00 to $100.00 and gave the stock an “outperform” rating in a research note on Thursday, November 20th. The Goldman Sachs Group decreased their target price on shares of Block from $96.00 to $82.00 and set a “buy” rating for the company in a research note on Friday, November 7th. Finally, Bank of America lifted their price objective on shares of Block from $86.00 to $88.00 and gave the company a “buy” rating in a report on Friday, November 21st. Four analysts have rated the stock with a Strong Buy rating, twenty-two have assigned a Buy rating, nine have assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $83.09.

Block Stock Down 3.2%

Shares of XYZ stock opened at $62.14 on Friday. Block, Inc. has a 12 month low of $44.27 and a 12 month 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 has a market cap of $37.76 billion, a PE ratio of 12.53, a price-to-earnings-growth ratio of 1.33 and a beta of 2.66. The stock has a 50 day moving average of $64.99 and a 200-day moving average of $71.27.

Block (NYSE:XYZ) last released its earnings results on Thursday, November 6th. The technology company reported $0.54 EPS for the quarter, beating the consensus estimate 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 during the quarter. During the same quarter in the previous year, the company earned $0.53 earnings per share. Block’s revenue for the quarter was up 2.3% compared to the same quarter last year. On average, equities analysts predict that Block, Inc. will post 2.54 EPS for the current year.

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.