Pursue Wealth Partners LLC Purchases Shares of 35,496 Block, Inc. $XYZ

Pursue Wealth Partners LLC acquired a new position in shares of Block, Inc. (NYSE:XYZ) in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm acquired 35,496 shares of the technology company’s stock, valued at approximately $2,411,000. Block makes up 1.4% of Pursue Wealth Partners LLC’s holdings, making the stock its 24th largest position.

A number of other institutional investors also recently modified their holdings of the company. S Bank Fund Management Ltd bought a new position in Block in the 2nd quarter valued at $92,000. Praxis Investment Management Inc. acquired a new stake in shares of Block in the second quarter valued at $508,000. Nordea Investment Management AB bought a new stake in Block during the 2nd quarter worth about $3,105,000. SilverOak Wealth Management LLC acquired a new stake in Block in the 2nd quarter valued at about $218,000. Finally, Private Trust Co. NA acquired a new position in shares of Block during the second quarter worth approximately $94,000. Institutional investors own 70.44% of the company’s stock.

Insider Buying and Selling

In other Block news, insider Owen Britton Jennings sold 10,417 shares of Block stock in a transaction on Friday, November 21st. The shares were 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 $14,953,356. The trade was a 4.10% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Chrysty Esperanza sold 3,608 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 transaction of $221,531.20. Following the completion of the transaction, the insider owned 123,198 shares in the company, valued at approximately $7,564,357.20. This represents a 2.85% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders sold 108,958 shares of company stock valued at $7,712,257. Corporate insiders own 10.85% of the company’s stock.

Analysts Set New Price Targets

Several research firms have recently commented on XYZ. Compass Point raised Block from a “strong sell” rating to a “hold” rating in a research note on Friday, November 21st. Cowen reaffirmed a “buy” rating on shares of Block in a research note on Friday, August 8th. Monness Crespi & Hardt boosted their price target on shares of Block from $75.00 to $95.00 and gave the stock a “buy” rating in a research note on Monday, August 4th. Citigroup raised shares of Block to a “strong-buy” rating in a research note on Thursday, October 23rd. Finally, Mizuho upped their target price on shares of Block from $88.00 to $100.00 and gave the company an “outperform” rating in a research report on Thursday, November 20th. Three research analysts have rated the stock with a Strong Buy rating, twenty-one have issued a Buy rating, twelve have given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $83.42.

Block Trading Up 2.6%

XYZ opened at $66.69 on Friday. The firm’s fifty day moving average is $72.00 and its two-hundred day moving average is $70.76. The firm has a market cap of $40.52 billion, a PE ratio of 13.45, a price-to-earnings-growth ratio of 3.64 and a beta of 2.73. Block, Inc. has a twelve month low of $44.27 and a twelve month high of $99.26. The company has a debt-to-equity ratio of 0.25, a quick ratio of 2.18 and a current ratio of 2.18.

Block (NYSE:XYZ) last released its quarterly earnings results on Thursday, November 6th. The technology company reported $0.54 earnings per share for the quarter, beating 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 during the quarter. During the same quarter last year, the company earned $0.53 EPS. The firm’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 year.

Block 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.