SBI Securities Co. Ltd. Takes Position in Block, Inc. $XYZ

SBI Securities Co. Ltd. acquired a new position in Block, Inc. (NYSE:XYZ) during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund acquired 67,789 shares of the technology company’s stock, valued at approximately $4,605,000.

Several other institutional investors have also added to or reduced their stakes in the stock. SouthState Corp acquired a new stake in Block during the 2nd quarter valued at approximately $29,000. First Horizon Advisors Inc. acquired a new position in shares of Block in the 2nd quarter worth approximately $30,000. Parkside Financial Bank & Trust acquired a new position in shares of Block in the 2nd quarter worth approximately $31,000. Deseret Mutual Benefit Administrators bought a new stake in shares of Block in the 2nd quarter valued at $33,000. Finally, Creative Financial Designs Inc. ADV acquired a new stake in shares of Block during the second quarter worth $41,000. 70.44% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

XYZ has been the subject of a number of analyst reports. Needham & Company LLC lowered their target price on shares of Block from $100.00 to $80.00 and set a “buy” rating for the company in a research note on Friday, November 7th. Robert W. Baird increased their price target on Block from $76.00 to $84.00 and gave the stock an “outperform” rating in a report on Monday, July 21st. Citigroup raised Block to a “strong-buy” rating in a research report on Thursday, October 23rd. The Goldman Sachs Group cut their target price on Block from $96.00 to $82.00 and set a “buy” rating on the stock in a research report on Friday, November 7th. Finally, Raymond James Financial reaffirmed an “outperform” rating and set a $95.00 target price (up previously from $79.00) on shares of Block in a research note on Friday, August 8th. Three equities research analysts have rated the stock with a Strong Buy rating, twenty-two have given a Buy rating, ten have given a Hold rating and three have given a Sell rating to the company. According to MarketBeat, Block currently has an average rating of “Moderate Buy” and an average price target of $82.58.

Insider Transactions at Block

In related news, insider Brian Grassadonia sold 35,145 shares of Block stock in a transaction on Wednesday, October 8th. The shares were sold at an average price of $80.00, for a total value of $2,811,600.00. Following the completion of the sale, the insider owned 535,896 shares of the company’s stock, valued at approximately $42,871,680. This trade represents a 6.15% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CAO Ajmere Dale sold 750 shares of the business’s stock in a transaction on Wednesday, October 8th. The shares were sold at an average price of $80.00, for a total transaction of $60,000.00. Following the sale, the chief accounting officer owned 102,308 shares of the company’s stock, valued at $8,184,640. This trade represents a 0.73% decrease in their position. The SEC filing for this sale provides additional information. In the last ninety days, insiders have sold 119,041 shares of company stock valued at $9,052,531. Company insiders own 10.49% of the company’s stock.

Block Price Performance

Shares of NYSE XYZ opened at $65.85 on Wednesday. The firm has a market capitalization of $40.14 billion, a P/E ratio of 13.28, a P/E/G ratio of 2.75 and a beta of 2.73. The firm’s 50-day moving average price is $75.33 and its 200-day moving average price is $70.11. 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 1-year low of $44.27 and a 1-year high of $99.26.

Block (NYSE:XYZ) last issued its earnings results on Thursday, November 6th. The technology company reported $0.54 EPS for the quarter, beating analysts’ consensus estimates of $0.25 by $0.29. Block had a return on equity of 7.41% and a net margin of 12.99%.The business had revenue of $6.11 billion during the quarter. During the same period in the previous year, the firm earned $0.53 earnings per share. The business’s quarterly revenue was up 2.3% on a year-over-year basis. Equities research analysts anticipate that Block, Inc. will post 2.54 earnings per share 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.