Militia Capital Partners LP Acquires Shares of 18,300 Block, Inc. $XYZ

Militia Capital Partners LP acquired a new stake in shares of Block, Inc. (NYSE:XYZ) in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 18,300 shares of the technology company’s stock, valued at approximately $1,323,000.

Other large investors have also recently made changes to their positions in the company. Mindset Wealth Management LLC lifted its position in shares of Block by 6.8% in the third quarter. Mindset Wealth Management LLC now owns 4,180 shares of the technology company’s stock worth $302,000 after buying an additional 265 shares in the last quarter. Laird Norton Wetherby Wealth Management LLC increased its stake in Block by 8.4% in the 3rd quarter. Laird Norton Wetherby Wealth Management LLC now owns 4,354 shares of the technology company’s stock worth $315,000 after acquiring an additional 338 shares during the last quarter. Larson Financial Group LLC increased its stake in Block by 103.0% in the 3rd quarter. Larson Financial Group LLC now owns 2,280 shares of the technology company’s stock worth $165,000 after acquiring an additional 1,157 shares during the last quarter. Lido Advisors LLC raised its holdings in shares of Block by 49.9% during the 3rd quarter. Lido Advisors LLC now owns 43,746 shares of the technology company’s stock worth $3,162,000 after acquiring an additional 14,559 shares in the last quarter. Finally, Integrated Wealth Concepts LLC raised its holdings in shares of Block by 24.5% during the 3rd quarter. Integrated Wealth Concepts LLC now owns 10,197 shares of the technology company’s stock worth $737,000 after acquiring an additional 2,008 shares in the last quarter. 70.44% of the stock is owned by institutional investors.

Block Stock Performance

NYSE:XYZ opened at $59.80 on Tuesday. The firm has a market capitalization of $36.34 billion, a PE ratio of 28.48, a PEG ratio of 1.05 and a beta of 2.64. The stock’s fifty day moving average is $60.83 and its 200 day moving average is $67.08. Block, Inc. has a fifty-two week low of $44.27 and a fifty-two week high of $82.50. The company has a debt-to-equity ratio of 0.26, a quick ratio of 2.20 and a current ratio of 2.20.

Block (NYSE:XYZ) last posted its quarterly earnings data 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 net margin of 5.40% and a return on equity of 6.66%. The company had revenue of $6.25 billion during the quarter. During the same period in the previous year, the firm earned $0.71 earnings per share. The firm’s quarterly revenue was up 3.6% compared to the same quarter last year. On average, sell-side analysts anticipate that Block, Inc. will post 2.54 earnings per share for the current year.

Insider Activity

In related news, insider Brian Grassadonia sold 10,349 shares of Block stock in a transaction dated 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 transaction, the insider directly owned 503,784 shares of the company’s stock, valued at approximately $25,189,200. The trade was a 2.01% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Amrita Ahuja sold 1,101 shares of the company’s stock in a transaction dated 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 $17,393,858.72. The trade was a 0.40% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 20,352 shares of company stock valued at $1,165,720 in the last quarter. 10.49% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

A number of research analysts recently weighed in on the stock. Citigroup cut their target price on shares of Block from $105.00 to $85.00 and set a “buy” rating for the company in a report on Thursday, February 5th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Block in a research note on Monday, December 29th. Cantor Fitzgerald reiterated an “overweight” rating and set a $70.00 price objective on shares of Block in a research report on Friday, February 27th. Morgan Stanley upgraded shares of Block from an “equal weight” rating to an “overweight” rating and boosted their target price for the stock from $72.00 to $93.00 in a report on Friday, February 27th. Finally, BTIG Research restated a “buy” rating and set a $90.00 target price on shares of Block in a research report on Friday, February 27th. Three 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 issued a Sell rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $82.79.

Block Company 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.