42,987 Shares in Block, Inc. $XYZ Purchased by Vanguard Personalized Indexing Management LLC

Vanguard Personalized Indexing Management LLC purchased a new stake in shares of Block, Inc. (NYSE:XYZ) during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund purchased 42,987 shares of the technology company’s stock, valued at approximately $3,107,000.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Vanguard Group Inc. bought a new stake in shares of Block in the 2nd quarter worth approximately $3,730,489,000. Sands Capital Management LLC bought a new stake in Block in the second quarter valued at $702,446,000. Geode Capital Management LLC bought a new stake in Block in the second quarter valued at $634,721,000. Dragoneer Investment Group LLC purchased a new position in Block during the 2nd quarter valued at $627,233,000. Finally, Ameriprise Financial Inc. bought a new position in Block in the 2nd quarter worth $535,305,000. Institutional investors own 70.44% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on XYZ. Cantor Fitzgerald raised shares of Block to a “strong-buy” rating in a research note on Tuesday. Citigroup raised Block to a “strong-buy” rating in a research report on Thursday, October 23rd. The Goldman Sachs Group decreased their target price on Block from $96.00 to $82.00 and set a “buy” rating for the company in a research report on Friday, November 7th. Zacks Research cut Block from a “strong-buy” rating to a “hold” rating in a research note on Monday, November 10th. Finally, Royal Bank Of Canada reaffirmed an “outperform” rating and issued a $90.00 price target on shares of Block in a research note on Thursday, November 20th. Four investment analysts have rated the stock with a Strong Buy rating, twenty-two have given a Buy rating, nine have given a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, Block has an average rating of “Moderate Buy” and an average price target of $83.09.

Block Price Performance

XYZ stock opened at $62.14 on Friday. 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 moving average price of $64.99 and a 200-day moving average price of $71.27. Block, Inc. has a 52-week low of $44.27 and a 52-week high of $94.25. The firm has a market capitalization of $37.76 billion, a price-to-earnings ratio of 12.53, a PEG ratio of 1.33 and a beta of 2.66.

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

Insider Transactions at Block

In other news, CFO Amrita Ahuja sold 1,101 shares of the firm’s stock in a transaction on Friday, January 2nd. The stock was sold at an average price of $63.98, for a total transaction of $70,441.98. Following the completion of the transaction, the chief financial officer directly owned 271,864 shares in the company, valued at $17,393,858.72. This trade represents a 0.40% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Brian Grassadonia sold 1,983 shares of Block stock in a transaction dated Tuesday, January 6th. The stock was sold at an average price of $68.52, for a total value of $135,875.16. Following the completion of the transaction, the insider directly owned 518,331 shares of the company’s stock, valued at approximately $35,516,040.12. This represents a 0.38% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders sold 54,796 shares of company stock valued at $3,395,943. 10.85% of the stock is currently owned by corporate insiders.

About Block

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.