27,847 Shares in Block, Inc. $XYZ Acquired by Third View Private Wealth LLC

Key Points

• Third View Private Wealth LLC opened a new Q4 position in Block (NYSE:XYZ) of 27,847 shares worth about $1.81 million, while institutional investors collectively own roughly 70.44% of the stock.
• Sell‑side analysts have an average rating of Moderate Buy with an average target price of $81.72; consensus breakdown is 3 Strong Buy, 27 Buy, 8 Hold and 1 Sell.
• Block beat quarterly EPS ( $0.65 vs $0.26 expected ) and reported $6.25 billion in revenue (up 3.6% YoY); insiders sold about 15,806 shares (~$857k) in the past three months and now own 10.85% of the company.

Third View Private Wealth LLC acquired a new position in Block, Inc. (NYSE:XYZ - Free Report) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 27,847 shares of the technology company's stock, valued at approximately $1,813,000.

A number of other hedge funds have also recently added to or reduced their stakes in the company. City Holding Co. acquired a new position in Block during the third quarter valued at approximately $27,000. Cromwell Holdings LLC acquired a new position in Block during the third quarter valued at approximately $27,000. Cary Street Partners Investment Advisory LLC acquired a new position in Block during the third quarter valued at approximately $28,000. Sound Income Strategies LLC grew its holdings in Block by 57.1% during the fourth quarter. Sound Income Strategies LLC now owns 443 shares of the technology company's stock valued at $29,000 after purchasing an additional 161 shares during the last quarter. Finally, Quent Capital LLC acquired a new position in Block during the third quarter valued at approximately $30,000. Institutional investors and hedge funds own 70.44% of the company's stock.

Analyst Upgrades and Downgrades

Several brokerages have commented on XYZ. Citigroup lowered their price target on Block from $105.00 to $85.00 and set a "buy" rating on the stock in a report on Thursday, February 5th. Bank of America lowered their price target on Block from $85.00 to $80.00 and set a "buy" rating on the stock in a report on Wednesday, March 25th. Piper Sandler lowered their price target on Block from $55.00 to $51.00 and set an "underweight" rating on the stock in a report on Wednesday, January 14th. Wall Street Zen upgraded Block from a "hold" rating to a "buy" rating in a report on Saturday. Finally, Oppenheimer increased their price target on Block from $85.00 to $89.00 and gave the company an "outperform" rating in a report on Friday, February 27th. Three equities research analysts have rated the stock with a Strong Buy rating, twenty-seven have issued a Buy rating, eight have given a Hold rating and one has issued a Sell rating to the company's stock. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $81.72.

Insider Activity at Block

In other news, insider Brian Grassadonia sold 1,769 shares of the stock in a transaction that occurred on Monday, April 6th. The stock was sold at an average price of $60.25, for a total value of $106,582.25. Following the completion of the sale, the insider directly owned 500,763 shares of the company's stock, valued at approximately $30,170,970.75. This represents a 0.35% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Owen Britton Jennings sold 3,555 shares of the firm's stock in a transaction on Tuesday, March 3rd. The stock was sold at an average price of $63.41, for a total value of $225,422.55. Following the completion of the transaction, the insider directly owned 231,262 shares of the company's stock, valued at approximately $14,664,323.42. This trade represents a 1.51% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 15,806 shares of company stock valued at $857,468 over the last three months. 10.85% of the stock is owned by company insiders.

Block Stock Up 3.2%

XYZ opened at $64.21 on Tuesday. Block, Inc. has a 1-year low of $44.27 and a 1-year high of $82.50. The company has a current ratio of 2.20, a quick ratio of 2.20 and a debt-to-equity ratio of 0.26. The stock has a market capitalization of $38.47 billion, a price-to-earnings ratio of 30.58, a P/E/G ratio of 1.07 and a beta of 2.61. The business has a 50 day moving average of $58.50 and a 200-day moving average of $64.84.

Block (NYSE:XYZ - Get Free Report) last posted its quarterly earnings data on Thursday, February 26th. The technology company reported $0.65 earnings per share for the quarter, beating the consensus estimate of $0.26 by $0.39. Block had a return on equity of 6.66% and a net margin of 5.40%.The company had revenue of $6.25 billion during the quarter. During the same period in the prior year, the company posted $0.71 earnings per share. The firm's revenue was up 3.6% compared to the same quarter last year. As a group, sell-side analysts anticipate that Block, Inc. will post 2.54 earnings per share for the current year.

Block 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.

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