Block, Inc. $XYZ Shares Newly Acquired by Knights of Columbus Asset Advisors LLC

Knights of Columbus Asset Advisors LLC acquired a new stake in Block, Inc. (NYSE:XYZ) in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 41,035 shares of the technology company’s stock, valued at approximately $3,017,000.

A number of other institutional investors have also bought and sold shares of the business. Lido Advisors LLC lifted its position in Block by 10.8% during the third quarter. Lido Advisors LLC now owns 38,895 shares of the technology company’s stock worth $2,860,000 after buying an additional 3,800 shares in the last quarter. Keybank National Association OH grew its holdings in Block by 11.0% in the 3rd quarter. Keybank National Association OH now owns 9,004 shares of the technology company’s stock valued at $662,000 after buying an additional 895 shares in the last quarter. New York Life Investment Management LLC grew its holdings in Block by 0.9% in the 3rd quarter. New York Life Investment Management LLC now owns 75,285 shares of the technology company’s stock valued at $5,536,000 after buying an additional 645 shares in the last quarter. Gen Wealth Partners Inc grew its holdings in Block by 14.2% in the 3rd quarter. Gen Wealth Partners Inc now owns 13,689 shares of the technology company’s stock valued at $1,007,000 after buying an additional 1,699 shares in the last quarter. Finally, 71 West Capital Partners increased its stake in shares of Block by 9.2% in the 3rd quarter. 71 West Capital Partners now owns 6,381 shares of the technology company’s stock worth $469,000 after acquiring an additional 536 shares during the last quarter. 70.44% of the stock is owned by hedge funds and other institutional investors.

Block Trading Up 0.2%

XYZ opened at $85.74 on Thursday. The stock has a market capitalization of $51.51 billion, a PE ratio of 115.87, a P/E/G ratio of 0.85 and a beta of 2.58. Block, Inc. has a one year low of $48.21 and a one year high of $89.39. The company has a debt-to-equity ratio of 0.25, a quick ratio of 2.23 and a current ratio of 2.23. The business’s 50 day moving average price is $78.24 and its 200 day moving average price is $71.82.

Block (NYSE:XYZ) last posted its earnings results on Tuesday, November 3rd. The technology company reported $1.13 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.68 by $0.45. Block had a return on equity of 9.63% and a net margin of 1.80%. The company had revenue of $6.72 billion during the quarter. During the same period last year, the business earned $0.54 EPS. Block’s revenue was up 9.9% compared to the same quarter last year. As a group, equities research analysts expect that Block, Inc. will post 2.86 EPS for the current year.

Analyst Upgrades and Downgrades

Several research firms have recently commented on XYZ. BMO Capital Markets reiterated a “hold” rating on shares of Block in a report on Tuesday, November 3rd. Morgan Stanley boosted their price target on shares of Block from $80.00 to $82.00 and gave the company an “equal weight” rating in a research report on Wednesday, November 4th. BNP Paribas Exane dropped their price objective on shares of Block from $107.00 to $102.00 in a report on Monday, October 12th. Daiwa Securities Group raised their price objective on shares of Block from $80.00 to $94.00 and gave the stock an “outperform” rating in a research report on Thursday, August 13th. Finally, Truist Financial raised their price objective on shares of Block from $89.00 to $95.00 and gave the stock a “buy” rating in a research report on Wednesday. Two analysts have rated the stock with a Strong Buy rating, thirty-four have given a Buy rating, ten have given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, Block presently has an average rating of “Moderate Buy” and an average target price of $100.32.

Insider Activity

In other news, Director Anthony Eisen sold 35,000 shares of the stock in a transaction on Wednesday, November 4th. The stock was sold at an average price of $87.50, for a total transaction of $3,062,500.00. Following the completion of the transaction, the director directly owned 1,177,672 shares in the company, valued at approximately $103,046,300. This represents a 2.89% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Brian Grassadonia sold 8,173 shares of the firm’s stock in a transaction dated Monday, August 24th. The stock was sold at an average price of $82.42, for a total value of $673,618.66. Following the sale, the insider directly owned 513,981 shares of the company’s stock, valued at $42,362,314.02. The trade was a 1.57% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 249,686 shares of company stock valued at $19,981,767 in the last quarter. Insiders own 11.37% of the company’s stock.

Block Company Profile

Block, Inc. is a financial technology company that provides payment and commerce tools to businesses and financial services for consumers. Its products include Square, a platform offering payment processing, point-of-sale software and related business services, and Cash App, which provides person-to-person payments and other financial features. The company also owns Afterpay, a buy-now, pay-later service, and TIDAL, a music and entertainment platform. Block serves businesses and consumers in the United States and other markets, with product availability varying by country.