UniSuper Management Pty Ltd Takes Position in Block, Inc. $XYZ

UniSuper Management Pty Ltd acquired a new stake in shares of Block, Inc. (NYSE:XYZ) during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor acquired 55,507 shares of the technology company’s stock, valued at approximately $4,011,000.

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

Block Stock Performance

NYSE:XYZ opened at $66.78 on Monday. The firm’s fifty day simple moving average is $64.66 and its 200 day simple moving average is $71.41. The company has a current ratio of 2.18, a quick ratio of 2.18 and a debt-to-equity ratio of 0.25. Block, Inc. has a twelve month low of $44.27 and a twelve month high of $94.25. The firm has a market capitalization of $40.58 billion, a price-to-earnings ratio of 13.46, a PEG ratio of 1.40 and a beta of 2.66.

Block (NYSE:XYZ) last released its quarterly earnings data on Thursday, November 6th. The technology company reported $0.54 EPS for the quarter, beating the consensus estimate of $0.25 by $0.29. The company 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 company’s revenue for the quarter was up 2.3% compared to the same quarter last year. During the same period last year, the business earned $0.53 earnings per share. As a group, equities research analysts expect that Block, Inc. will post 2.54 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on the stock. Jefferies Financial Group increased their price objective on shares of Block from $90.00 to $95.00 and gave the stock a “buy” rating in a report on Tuesday, October 21st. Truist Financial set a $72.00 price target on shares of Block in a report on Tuesday, January 20th. Piper Sandler lowered their price objective on shares of Block from $55.00 to $51.00 and set an “underweight” rating for the company in a research note on Wednesday, January 14th. KeyCorp reaffirmed an “overweight” rating and issued a $94.00 target price on shares of Block in a research report on Wednesday, October 22nd. Finally, Bank of America lifted their target price on Block from $86.00 to $88.00 and gave the company a “buy” rating in a report on Friday, November 21st. Three research analysts have rated the stock with a Strong Buy rating, twenty-two have assigned a Buy rating, nine have issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, Block presently has an average rating of “Moderate Buy” and a consensus target price of $82.97.

Insider Buying and Selling at Block

In other news, CFO Amrita Ahuja sold 1,101 shares of the business’s stock in a transaction on Friday, January 2nd. The shares were sold at an average price of $63.98, for a total transaction of $70,441.98. Following the transaction, the chief financial officer directly owned 271,864 shares of the company’s stock, valued at approximately $17,393,858.72. The trade was a 0.40% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CAO Ajmere Dale sold 1,173 shares of the company’s stock in a transaction on Friday, January 2nd. The shares were sold at an average price of $65.09, for a total transaction of $76,350.57. Following the completion of the transaction, the chief accounting officer owned 98,412 shares of the company’s stock, valued at $6,405,637.08. This trade represents a 1.18% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders sold 54,796 shares of company stock worth $3,395,943. Insiders own 10.49% of the company’s stock.

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.