Hel Ved Capital Management Ltd Has $438,000 Position in Block, Inc. $XYZ

Hel Ved Capital Management Ltd cut its stake in Block, Inc. (NYSE:XYZ) by 90.9% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 6,055 shares of the technology company’s stock after selling 60,170 shares during the quarter. Hel Ved Capital Management Ltd’s holdings in Block were worth $438,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. Howard Capital Management Inc. grew its stake in Block by 3.2% in the 3rd quarter. Howard Capital Management Inc. now owns 4,439 shares of the technology company’s stock valued at $321,000 after buying an additional 138 shares during the last quarter. Whittier Trust Co. of Nevada Inc. grew its position in shares of Block by 23.1% during the 3rd quarter. Whittier Trust Co. of Nevada Inc. now owns 853 shares of the technology company’s stock worth $66,000 after purchasing an additional 160 shares in the last quarter. Jones Financial Companies Lllp increased its holdings in shares of Block by 0.8% during the third quarter. Jones Financial Companies Lllp now owns 21,183 shares of the technology company’s stock worth $1,561,000 after purchasing an additional 167 shares during the period. Vista Investment Partners II LLC raised its position in shares of Block by 3.6% in the third quarter. Vista Investment Partners II LLC now owns 5,334 shares of the technology company’s stock valued at $385,000 after buying an additional 184 shares in the last quarter. Finally, Rothschild Investment LLC boosted its stake in shares of Block by 59.7% in the third quarter. Rothschild Investment LLC now owns 495 shares of the technology company’s stock valued at $36,000 after buying an additional 185 shares during the period. Institutional investors own 70.44% of the company’s stock.

Analyst Upgrades and Downgrades

XYZ has been the subject of a number of analyst reports. Arete Research raised Block from a “hold” rating to a “strong-buy” rating in a research note on Tuesday. Keefe, Bruyette & Woods dropped their price objective on shares of Block from $90.00 to $85.00 and set an “outperform” rating for the company in a research note on Friday, January 2nd. Needham & Company LLC lifted their price target on Block from $80.00 to $90.00 and gave the company a “buy” rating in a research note on Friday, February 27th. Morgan Stanley raised shares of Block from an “equal weight” rating to an “overweight” rating and boosted their price objective for the stock from $72.00 to $93.00 in a research note on Friday, February 27th. Finally, Mizuho raised their price target on shares of Block from $88.00 to $100.00 and gave the stock an “outperform” rating in a report on Thursday, November 20th. Three equities research analysts have rated the stock with a Strong Buy rating, twenty-five have issued a Buy rating, eight have issued a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $82.79.

Insider Transactions at Block

In other news, CAO Ajmere Dale sold 1,173 shares of the company’s stock in a transaction on Friday, January 2nd. The stock was sold at an average price of $65.09, for a total transaction of $76,350.57. Following the transaction, the chief accounting officer directly owned 98,412 shares of the company’s stock, valued at $6,405,637.08. This represents a 1.18% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CFO Amrita Ahuja sold 1,101 shares of the stock in a transaction that occurred on Friday, January 2nd. The shares were sold at an average price of $63.98, for a total transaction of $70,441.98. Following the transaction, the chief financial officer owned 271,864 shares in the company, valued at approximately $17,393,858.72. This trade represents a 0.40% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 20,352 shares of company stock worth $1,165,720 in the last ninety days. 10.85% of the stock is owned by company insiders.

Block Stock Performance

NYSE XYZ opened at $66.54 on Friday. The company has a quick ratio of 2.20, a current ratio of 2.20 and a debt-to-equity ratio of 0.26. The firm has a market cap of $40.43 billion, a P/E ratio of 31.69, a price-to-earnings-growth ratio of 1.24 and a beta of 2.65. Block, Inc. has a 12-month low of $44.27 and a 12-month high of $82.50. The company’s 50 day moving average is $61.23 and its 200-day moving average is $67.85.

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

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.