Y.D. More Investments Ltd Sells 11,349 Shares of Block, Inc. $XYZ

Y.D. More Investments Ltd trimmed its stake in shares of Block, Inc. (NYSE:XYZ) by 48.2% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 12,207 shares of the technology company’s stock after selling 11,349 shares during the quarter. Y.D. More Investments Ltd’s holdings in Block were worth $795,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also added to or reduced their stakes in XYZ. City Holding Co. acquired a new stake in Block in the third quarter valued at approximately $27,000. Cromwell Holdings LLC acquired a new position in shares of Block during the third quarter worth $27,000. Cary Street Partners Investment Advisory LLC acquired a new position in shares of Block during the third quarter worth $28,000. Quent Capital LLC bought a new position in shares of Block in the 3rd quarter valued at $30,000. Finally, RMG Wealth Management LLC bought a new position in shares of Block in the 3rd quarter valued at $30,000. Institutional investors own 70.44% of the company’s stock.

Insider Buying and Selling

In other Block news, insider Brian Grassadonia sold 10,349 shares of the stock in a transaction that occurred on Tuesday, February 24th. The shares were sold at an average price of $50.00, for a total transaction of $517,450.00. Following the completion of the sale, the insider owned 503,784 shares of the company’s stock, valued at approximately $25,189,200. This represents a 2.01% 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 3,555 shares of the firm’s stock in a transaction that occurred on Tuesday, March 3rd. The stock was sold at an average price of $63.41, for a total transaction of $225,422.55. Following the transaction, the insider owned 231,262 shares of the company’s stock, valued at approximately $14,664,323.42. The trade was a 1.51% decrease in their position. The SEC filing for this sale provides additional information. 10.85% of the stock is owned by insiders.

Block Stock Performance

NYSE XYZ opened at $60.67 on Tuesday. The company has a market capitalization of $36.35 billion, a price-to-earnings ratio of 28.89, a PEG ratio of 1.03 and a beta of 2.61. The company has a quick ratio of 2.20, a current ratio of 2.20 and a debt-to-equity ratio of 0.26. Block, Inc. has a twelve month low of $44.27 and a twelve month high of $82.50. The stock has a fifty day simple moving average of $58.50 and a 200 day simple moving average of $65.33.

Block (NYSE:XYZ) last announced its earnings results on Thursday, February 26th. The technology company reported $0.65 EPS for the quarter, topping the consensus estimate of $0.26 by $0.39. Block had a return on equity of 6.66% and a net margin of 5.40%.The firm had revenue of $6.25 billion for the quarter. During the same period in the previous year, the firm posted $0.71 earnings per share. The firm’s quarterly revenue was up 3.6% compared to the same quarter last year. Sell-side analysts expect that Block, Inc. will post 2.54 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on the company. Royal Bank Of Canada restated an “outperform” rating and set a $90.00 price objective on shares of Block in a research report on Tuesday, March 17th. BTIG Research reiterated a “buy” rating and issued a $90.00 target price on shares of Block in a research report on Friday, February 27th. Keefe, Bruyette & Woods cut 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. Arete Research upgraded Block from a “hold” rating to a “strong-buy” rating in a report on Tuesday, March 3rd. Finally, TD Cowen upped their price objective on Block from $91.00 to $95.00 and gave the company a “buy” rating in a research note on Friday, February 27th. Three investment analysts have rated the stock with a Strong Buy rating, twenty-seven have given a Buy rating, eight have assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $81.72.

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.