3,286 Shares in Block, Inc. $XYZ Bought by Frank Rimerman Advisors LLC

Frank Rimerman Advisors LLC bought a new position in Block, Inc. (NYSE:XYZ) in the 2nd quarter, according to its most recent disclosure with the SEC. The firm bought 3,286 shares of the technology company’s stock, valued at approximately $223,000.

Several other hedge funds and other institutional investors also recently modified their holdings of XYZ. SouthState Corp purchased a new stake in Block in the second quarter worth about $29,000. First Horizon Advisors Inc. bought a new position in shares of Block in the 2nd quarter worth approximately $30,000. Comprehensive Financial Planning Inc. PA bought a new position in shares of Block in the 2nd quarter worth approximately $31,000. Parkside Financial Bank & Trust purchased a new position in shares of Block in the 2nd quarter valued at approximately $31,000. Finally, Deseret Mutual Benefit Administrators bought a new stake in shares of Block during the second quarter valued at approximately $33,000. Hedge funds and other institutional investors own 70.44% of the company’s stock.

Insider Buying and Selling

In other news, insider Owen Britton Jennings sold 1,050 shares of the firm’s stock in a transaction dated Thursday, October 2nd. The shares were sold at an average price of $74.77, for a total transaction of $78,508.50. Following the sale, the insider owned 253,956 shares of the company’s stock, valued at $18,988,290.12. This trade represents a 0.41% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Brian Grassadonia sold 35,145 shares of Block stock in a transaction that occurred on Wednesday, October 8th. The stock was sold at an average price of $80.00, for a total transaction of $2,811,600.00. Following the completion of the sale, the insider owned 535,896 shares of the company’s stock, valued at $42,871,680. This represents a 6.15% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 61,360 shares of company stock worth $4,799,162 in the last three months. 10.85% of the stock is currently owned by company insiders.

Block Price Performance

Shares of NYSE XYZ opened at $61.88 on Friday. The firm has a market cap of $37.60 billion, a P/E ratio of 12.48, a PEG ratio of 3.26 and a beta of 2.73. Block, Inc. has a twelve month low of $44.27 and a twelve month high of $99.26. The company has a quick ratio of 2.18, a current ratio of 2.18 and a debt-to-equity ratio of 0.25. The company has a 50 day moving average of $73.17 and a 200 day moving average of $70.26.

Block (NYSE:XYZ) last posted its earnings results on Thursday, November 6th. The technology company reported $0.54 EPS for the quarter, topping 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 business had revenue of $6.11 billion during the quarter. During the same period in the previous year, the business posted $0.53 EPS. The firm’s revenue for the quarter was up 2.3% on a year-over-year basis. As a group, research analysts expect that Block, Inc. will post 2.54 EPS for the current fiscal year.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on the company. The Goldman Sachs Group decreased their price objective on Block from $96.00 to $82.00 and set a “buy” rating for the company in a report on Friday, November 7th. Monness Crespi & Hardt upped their target price on shares of Block from $75.00 to $95.00 and gave the stock a “buy” rating in a research report on Monday, August 4th. Cowen reiterated a “buy” rating on shares of Block in a research note on Friday, August 8th. Keefe, Bruyette & Woods lifted their price target on shares of Block from $80.00 to $95.00 and gave the company an “outperform” rating in a research report on Friday, August 8th. Finally, KeyCorp restated an “overweight” rating and issued a $94.00 price objective on shares of Block in a report on Wednesday, October 22nd. Three equities research analysts have rated the stock with a Strong Buy rating, twenty-one have given a Buy rating, eleven have given a Hold rating and two have issued a Sell rating to the company’s stock. According to data from MarketBeat, Block currently has a consensus rating of “Moderate Buy” and a consensus target price of $83.42.

About Block

Square, Inc provides payment and point-of-sale solutions in the United States and internationally. The company's commerce ecosystem includes point-of-sale software and hardware that enables sellers to turn mobile and computing devices into payment and point-of-sale solutions. It offers hardware products, including Magstripe reader, which enables swiped transactions of magnetic stripe cards; Contactless and chip reader that accepts EMV® chip cards and Near Field Communication payments; Chip card reader, which accepts EMV® chip cards and enables swiped transactions of magnetic stripe cards; Square Stand, which enables an iPad to be used as a payment terminal or full point of sale solution; and Square Register that combines its hardware, point-of-sale software, and payments technology, as well as managed payments solutions.