4,399 Shares in Block, Inc. $XYZ Purchased by CAP Partners LLC

CAP Partners LLC purchased a new position in shares of Block, Inc. (NYSE:XYZ) in the 2nd quarter, Holdings Channel reports. The institutional investor purchased 4,399 shares of the technology company’s stock, valued at approximately $299,000.

Several other large investors have also recently added to or reduced their stakes in the company. Crewe Advisors LLC acquired a new stake in shares of Block in the second quarter valued at approximately $46,000. Cullen Frost Bankers Inc. acquired a new stake in shares of Block in the second quarter valued at approximately $73,000. S Bank Fund Management Ltd acquired a new stake in shares of Block in the second quarter valued at approximately $92,000. Private Trust Co. NA acquired a new stake in shares of Block in the second quarter valued at approximately $94,000. Finally, Whittier Trust Co. acquired a new stake in shares of Block in the second quarter valued at approximately $96,000. 70.44% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other news, CFO Amrita Ahuja sold 9,966 shares of the firm’s stock in a transaction on Thursday, August 21st. The shares were sold at an average price of $73.20, for a total value of $729,511.20. Following the transaction, the chief financial officer owned 298,431 shares of the company’s stock, valued at approximately $21,845,149.20. This trade represents a 3.23% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Chrysty Esperanza sold 3,609 shares of the firm’s stock in a transaction on Thursday, August 21st. The shares were sold at an average price of $73.20, for a total transaction of $264,178.80. Following the completion of the transaction, the insider directly owned 127,212 shares in the company, valued at approximately $9,311,918.40. This represents a 2.76% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 123,041 shares of company stock worth $9,355,075 over the last 90 days. Company insiders own 10.85% of the company’s stock.

Block Stock Up 3.5%

Shares of XYZ opened at $78.59 on Friday. The firm has a market cap of $47.91 billion, a PE ratio of 16.83, a price-to-earnings-growth ratio of 3.09 and a beta of 2.71. The company’s fifty day moving average is $76.37 and its two-hundred day moving average is $68.04. Block, Inc. has a fifty-two week low of $44.27 and a fifty-two week high of $99.26. The company has a quick ratio of 1.96, a current ratio of 1.96 and a debt-to-equity ratio of 0.16.

Block (NYSE:XYZ) last announced its quarterly earnings results on Thursday, August 7th. The technology company reported $0.62 earnings per share for the quarter, beating analysts’ consensus estimates of $0.21 by $0.41. The company had revenue of $6.05 billion for the quarter, compared to analyst estimates of $6.32 billion. Block had a net margin of 12.32% and a return on equity of 7.85%. The company’s revenue for the quarter was down 1.6% on a year-over-year basis. Analysts forecast that Block, Inc. will post 2.54 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several analysts have recently commented on the stock. Citigroup upgraded shares of Block to a “strong-buy” rating in a research report on Thursday. Raymond James Financial reiterated an “outperform” rating and issued a $95.00 price target (up from $79.00) on shares of Block in a research report on Friday, August 8th. Macquarie increased their price target on shares of Block from $50.00 to $67.00 and gave the company a “neutral” rating in a research report on Tuesday, August 12th. JPMorgan Chase & Co. increased their price target on shares of Block from $60.00 to $90.00 and gave the company an “overweight” rating in a research report on Monday, July 21st. Finally, Evercore ISI increased their price target on shares of Block from $75.00 to $85.00 and gave the company an “outperform” rating in a research report on Thursday, July 17th. Four research analysts have rated the stock with a Strong Buy rating, twenty-two have assigned a Buy rating, nine have given a Hold rating and three have assigned a Sell rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $82.30.

About Block

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.