3,895 Shares in Block, Inc. $XYZ Purchased by Hartline Investment Corp

Key Points

• Hartline Investment Corp has acquired 3,895 shares of Block, Inc. for approximately $265,000, highlighting recent interest from institutional investors, who currently hold 70.44% of the company's stock.
• Block, Inc. has garnered mixed ratings from analysts, with price targets ranging from $58.00 to $100.00, resulting in a consensus average rating of "Moderate Buy".
• Insiders, including the CFO and another executive, have sold a total of 144,692 shares of Block stock over the last 90 days, indicating potential shifts in confidence among company leadership.

Hartline Investment Corp purchased a new stake in Block, Inc. (NYSE:XYZ - Free Report) in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 3,895 shares of the technology company's stock, valued at approximately $265,000.

Other hedge funds have also recently bought and sold shares of the company. S Bank Fund Management Ltd bought a new position in Block in the second quarter valued at approximately $92,000. Private Trust Co. NA bought a new position in Block in the second quarter valued at approximately $94,000. SilverOak Wealth Management LLC bought a new position in Block in the second quarter valued at approximately $218,000. AssuredPartners Investment Advisors LLC bought a new position in Block in the second quarter valued at approximately $310,000. Finally, Praxis Investment Management Inc. bought a new position in Block in the second quarter valued at approximately $508,000. 70.44% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on XYZ. Truist Financial raised their price target on Block from $65.00 to $70.00 and gave the company a "sell" rating in a research note on Thursday, August 21st. Canaccord Genuity Group restated a "buy" rating and issued a $80.00 price target on shares of Block in a research note on Tuesday, September 23rd. Macquarie raised their price target on Block from $50.00 to $67.00 and gave the company a "neutral" rating in a research note on Tuesday, August 12th. KeyCorp raised their price objective on Block from $60.00 to $100.00 and gave the company an "overweight" rating in a research report on Friday, August 8th. Finally, Piper Sandler reaffirmed an "underweight" rating and issued a $58.00 price objective (up from $50.00) on shares of Block in a research report on Friday, August 8th. One investment analyst has rated the stock with a Strong Buy rating, twenty-four have given a Buy rating, ten have assigned a Hold rating and three have assigned a Sell rating to the company's stock. According to data from MarketBeat, Block has an average rating of "Moderate Buy" and a consensus target price of $80.64.

Insider Buying and Selling

In other news, insider Owen Britton Jennings sold 10,424 shares of Block stock in a transaction on Thursday, August 21st. The stock was sold at an average price of $73.20, for a total value of $763,036.80. Following the transaction, the insider owned 263,507 shares in the company, valued at approximately $19,288,712.40. This trade represents a 3.81% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CFO Amrita Ahuja sold 16,358 shares of Block stock in a transaction on Monday, July 21st. The shares were sold at an average price of $78.60, for a total value of $1,285,738.80. Following the completion of the transaction, the chief financial officer owned 308,397 shares in the company, valued at approximately $24,240,004.20. The trade was a 5.04% decrease in their position. The disclosure for this sale can be found here. Insiders sold 144,692 shares of company stock valued at $11,058,664 over the last 90 days. 10.85% of the stock is currently owned by insiders.

Block Stock Performance

NYSE:XYZ opened at $75.21 on Friday. The stock has a 50 day simple moving average of $76.21 and a 200 day simple moving average of $67.38. Block, Inc. has a 1-year low of $44.27 and a 1-year high of $99.26. The stock has a market cap of $45.85 billion, a P/E ratio of 16.10, a PEG ratio of 3.01 and a beta of 2.71. The company has a current ratio of 1.96, a quick ratio of 1.96 and a debt-to-equity ratio of 0.16.

Block (NYSE:XYZ - Get Free Report) last announced its earnings results on Thursday, August 7th. The technology company reported $0.62 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.21 by $0.41. The firm 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 was down 1.6% on a year-over-year basis. Research analysts anticipate that Block, Inc. will post 2.54 earnings per share for the current 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.

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