Mn Services Vermogensbeheer B.V. Purchases New Shares in Block, Inc. $XYZ

Mn Services Vermogensbeheer B.V. acquired a new position in shares of Block, Inc. (NYSE:XYZ) during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The firm acquired 101,800 shares of the technology company’s stock, valued at approximately $7,357,000.

Other institutional investors also recently bought and sold shares of the company. Traub Capital Management LLC acquired a new stake in shares of Block during the second quarter worth about $26,000. Nemes Rush Group LLC purchased a new stake in Block during the 2nd quarter valued at approximately $26,000. City Holding Co. acquired a new stake in Block during the 3rd quarter worth approximately $27,000. Cromwell Holdings LLC purchased a new position in shares of Block in the 3rd quarter valued at approximately $27,000. Finally, SouthState Corp purchased a new position in shares of Block in the 2nd quarter valued at approximately $29,000. 70.44% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Block

In related news, insider Owen Britton Jennings sold 10,417 shares of Block stock in a transaction on Friday, November 21st. The stock was sold at an average price of $61.40, for a total transaction of $639,603.80. Following the completion of the transaction, the insider directly owned 243,540 shares of the company’s stock, valued at approximately $14,953,356. The trade was a 4.10% decrease in their ownership of the stock. The sale was disclosed in a document filed 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 on Friday, November 21st. The shares were sold at an average price of $61.40, for a total value of $435,633.00. Following the completion of the sale, the insider directly owned 259,136 shares in the company, valued at $15,910,950.40. This trade represents a 2.66% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 54,796 shares of company stock worth $3,395,943 over the last ninety days. 10.49% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

XYZ has been the subject of several analyst reports. Zacks Research cut Block from a “strong-buy” rating to a “hold” rating in a research note on Monday, November 10th. Keefe, Bruyette & Woods cut their price objective on shares of Block from $90.00 to $85.00 and set an “outperform” rating for the company in a research report on Friday, January 2nd. Royal Bank Of Canada restated an “outperform” rating and issued a $90.00 target price on shares of Block in a research note on Thursday, November 20th. Morgan Stanley boosted their price target on shares of Block from $71.00 to $72.00 and gave the stock an “equal weight” rating in a research note on Friday, November 21st. Finally, BTIG Research restated a “buy” rating and issued a $90.00 price objective on shares of Block in a research report on Thursday, November 20th. Three equities research analysts have rated the stock with a Strong Buy rating, twenty-two have given a Buy rating, nine have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $82.97.

Block Stock Up 2.7%

Shares of NYSE XYZ opened at $66.78 on Monday. The company has a quick ratio of 2.18, a current ratio of 2.18 and a debt-to-equity ratio of 0.25. Block, Inc. has a 52 week low of $44.27 and a 52 week high of $94.25. The firm has a 50-day moving average price of $64.66 and a 200 day moving average price of $71.41. The stock has a market capitalization of $40.58 billion, a price-to-earnings ratio of 13.46, a price-to-earnings-growth ratio of 1.40 and a beta of 2.66.

Block (NYSE:XYZ) last issued its earnings results on Thursday, November 6th. The technology company reported $0.54 earnings per share for the quarter, topping the consensus estimate of $0.25 by $0.29. Block had a net margin of 12.99% and a return on equity of 5.54%. The company had revenue of $6.11 billion for the quarter. During the same quarter in the previous year, the company posted $0.53 earnings per share. The company’s quarterly revenue was up 2.3% compared to the same quarter last year. Equities research analysts anticipate that Block, Inc. will post 2.54 EPS for the current fiscal year.

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.