7,593,945 Shares in Block, Inc. $XYZ Purchased by Loomis Sayles & Co. L P

Loomis Sayles & Co. L P purchased a new stake in shares of Block, Inc. (NYSE:XYZ) in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The firm purchased 7,593,945 shares of the technology company’s stock, valued at approximately $515,857,000. Loomis Sayles & Co. L P owned approximately 1.23% of Block at the end of the most recent quarter.

Several other hedge funds have also bought and sold shares of XYZ. Nemes Rush Group LLC purchased a new position in shares of Block during the 2nd quarter valued at approximately $26,000. Traub Capital Management LLC acquired a new stake in Block during the second quarter valued at $26,000. SouthState Corp acquired a new stake in Block during the second quarter valued at $29,000. First Horizon Advisors Inc. purchased a new position in Block in the second quarter valued at $30,000. Finally, Comprehensive Financial Planning Inc. PA acquired a new position in shares of Block in the second quarter worth about $31,000. Hedge funds and other institutional investors own 70.44% of the company’s stock.

Insider Buying and Selling at Block

In other news, insider Chrysty Esperanza sold 3,608 shares of the business’s stock in a transaction dated Friday, November 21st. The shares were sold at an average price of $61.40, for a total transaction of $221,531.20. Following the transaction, the insider owned 123,198 shares of the company’s stock, valued at approximately $7,564,357.20. The trade was a 2.85% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Arnaud Weber sold 7,095 shares of the company’s stock in a transaction dated Friday, November 21st. The shares were sold at an average price of $61.40, for a total transaction of $435,633.00. Following the completion of the sale, the insider directly owned 259,136 shares of the company’s stock, valued at $15,910,950.40. This represents a 2.66% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders have sold 108,958 shares of company stock worth $7,712,257. Corporate insiders own 10.85% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on the company. Stephens restated an “overweight” rating and issued a $95.00 price target on shares of Block in a research note on Thursday, November 20th. Royal Bank Of Canada reaffirmed an “outperform” rating and set a $90.00 target price on shares of Block in a research note on Thursday, November 20th. Bank of America lifted their price target on shares of Block from $86.00 to $88.00 and gave the company a “buy” rating in a research note on Friday, November 21st. Zacks Research downgraded shares of Block from a “strong-buy” rating to a “hold” rating in a report on Monday, November 10th. Finally, KeyCorp reissued an “overweight” rating and set a $94.00 target price on shares of Block in a research note on Wednesday, October 22nd. Three equities research analysts have rated the stock with a Strong Buy rating, twenty-one have assigned a Buy rating, twelve have issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $83.42.

Block Trading Up 2.6%

Shares of Block stock opened at $66.69 on Friday. The company has a debt-to-equity ratio of 0.25, a current ratio of 2.18 and a quick ratio of 2.18. The stock’s 50 day simple moving average is $72.00 and its 200-day simple moving average is $70.76. The stock has a market cap of $40.52 billion, a P/E ratio of 13.45, a P/E/G ratio of 3.64 and a beta of 2.73. Block, Inc. has a 1-year low of $44.27 and a 1-year high of $99.26.

Block (NYSE:XYZ) last announced its quarterly earnings data on Thursday, November 6th. The technology company reported $0.54 EPS for the quarter, topping 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 business’s quarterly revenue was up 2.3% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.53 EPS. Analysts predict that Block, Inc. will post 2.54 EPS for the current fiscal year.

Block Company Profile

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.