Block, Inc. $XYZ Shares Sold by Syon Capital LLC

Syon Capital LLC decreased its stake in shares of Block, Inc. (NYSE:XYZ) by 11.1% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 392,614 shares of the technology company’s stock after selling 49,005 shares during the period. Block makes up 1.5% of Syon Capital LLC’s portfolio, making the stock its 16th biggest position. Syon Capital LLC owned about 0.06% of Block worth $28,374,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors also recently made changes to their positions in the company. Nordea Investment Management AB acquired a new position in shares of Block during the second quarter valued at approximately $3,105,000. Private Trust Co. NA bought a new stake in shares of Block in the 2nd quarter worth $94,000. Stratos Wealth Partners LTD. acquired a new stake in shares of Block in the second quarter valued at $617,000. Chicago Partners Investment Group LLC bought a new position in Block during the second quarter valued at about $290,000. Finally, Stephens Inc. AR acquired a new position in Block during the second quarter worth about $1,040,000. 70.44% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Block news, insider Owen Britton Jennings sold 10,417 shares of the company’s stock in a transaction dated Friday, November 21st. The stock was sold at an average price of $61.40, for a total value of $639,603.80. Following the transaction, the insider directly owned 243,540 shares of the company’s stock, valued at $14,953,356. This represents a 4.10% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Chrysty Esperanza sold 3,608 shares of Block stock in a transaction dated Friday, November 21st. The shares were sold at an average price of $61.40, for a total value of $221,531.20. Following the sale, the insider owned 123,198 shares of the company’s stock, valued at approximately $7,564,357.20. This represents a 2.85% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 54,796 shares of company stock valued at $3,395,943 in the last three months. Company insiders own 10.85% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on the stock. Keefe, Bruyette & Woods cut their price target on shares of Block from $90.00 to $85.00 and set an “outperform” rating for the company in a report on Friday, January 2nd. Jefferies Financial Group increased their price objective on Block from $90.00 to $95.00 and gave the company a “buy” rating in a research report on Tuesday, October 21st. Stephens restated an “overweight” rating and issued a $95.00 target price on shares of Block in a report on Thursday, November 20th. BTIG Research reaffirmed a “buy” rating and set a $90.00 target price on shares of Block in a report on Thursday, November 20th. Finally, Citigroup decreased their price target on Block from $105.00 to $85.00 and set a “buy” rating for the company in a research report on Thursday, February 5th. Two investment analysts have rated the stock with a Strong Buy rating, twenty-four have assigned a Buy rating, nine have issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $81.97.

Block Stock Performance

Shares of XYZ opened at $50.73 on Wednesday. The company has a market capitalization of $30.83 billion, a PE ratio of 10.23, a PEG ratio of 1.02 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. The company’s 50 day moving average price is $62.91 and its 200 day moving average price is $69.32. Block, Inc. has a 52 week low of $44.27 and a 52 week high of $85.55.

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.