IQ EQ FUND MANAGEMENT IRELAND Ltd Has $8.58 Million Stock Holdings in Block, Inc. $XYZ

IQ EQ FUND MANAGEMENT IRELAND Ltd grew its stake in shares of Block, Inc. (NYSE:XYZ) by 110.4% in the third quarter, HoldingsChannel.com reports. The fund owned 118,726 shares of the technology company’s stock after acquiring an additional 62,291 shares during the quarter. IQ EQ FUND MANAGEMENT IRELAND Ltd’s holdings in Block were worth $8,580,000 at the end of the most recent reporting period.

Other hedge funds also recently modified their holdings of the company. S Bank Fund Management Ltd bought a new stake in Block during the second quarter worth about $92,000. Praxis Investment Management Inc. acquired a new position in shares of Block in the 2nd quarter valued at approximately $508,000. Nordea Investment Management AB bought a new stake in shares of Block during the 2nd quarter worth approximately $3,105,000. SilverOak Wealth Management LLC bought a new stake in shares of Block during the 2nd quarter worth approximately $218,000. Finally, Private Trust Co. NA acquired a new stake in shares of Block during the 2nd quarter worth approximately $94,000. Institutional investors own 70.44% of the company’s stock.

Block Price Performance

Shares of NYSE:XYZ opened at $53.41 on Friday. The firm has a market cap of $32.45 billion, a PE ratio of 10.77, a price-to-earnings-growth ratio of 1.17 and a beta of 2.67. The company has a debt-to-equity ratio of 0.25, a quick ratio of 2.18 and a current ratio of 2.18. Block, Inc. has a 52 week low of $44.27 and a 52 week high of $88.73. The firm’s fifty day moving average is $64.40 and its 200-day moving average is $70.86.

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

Wall Street Analysts Forecast Growth

Several research analysts have commented on the stock. Compass Point upgraded shares of Block from a “strong sell” rating to a “hold” rating in a research report on Friday, November 21st. Zacks Research cut Block from a “strong-buy” rating to a “hold” rating in a research report on Monday, November 10th. BTIG Research reissued a “buy” rating and issued a $90.00 price objective on shares of Block in a research note on Thursday, November 20th. Royal Bank Of Canada restated an “outperform” rating and issued a $90.00 target price on shares of Block in a research report on Thursday, November 20th. Finally, Stephens reiterated an “overweight” rating and set a $95.00 price target on shares of Block in a report on Thursday, November 20th. Three equities research analysts have rated the stock with a Strong Buy rating, twenty-three have issued a Buy rating, nine have assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $82.48.

Insider Buying and Selling

In other news, CFO Amrita Ahuja sold 9,959 shares of the business’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 $611,482.60. Following the transaction, the chief financial officer owned 272,965 shares in the company, valued at approximately $16,760,051. The trade was a 3.52% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Brian Grassadonia sold 8,085 shares of the company’s stock in a transaction on Monday, November 24th. The shares were sold at an average price of $61.96, for a total transaction of $500,946.60. Following the completion of the sale, the insider directly owned 521,352 shares in the company, valued at approximately $32,302,969.92. This represents a 1.53% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 54,796 shares of company stock valued at $3,395,943 over the last 90 days. 10.85% of the stock is currently owned by corporate insiders.

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.