Block, Inc. $XYZ Shares Bought by TD Waterhouse Canada Inc.

Key Points

• TD Waterhouse Canada raised its stake in Block by 629.7% in Q4, buying 23,609 shares to own 27,358 shares valued at about $1.78 million.
• Block topped quarterly EPS estimates ($0.65 vs. $0.26) and reported $6.25 billion in revenue, a 3.6% year-over-year increase.
• Analysts are largely positive with a consensus rating of "Moderate Buy" and an average price target of $82.67; the stock trades near $70 with a 52-week range of $44.27–$82.50 and a market cap around $41.9 billion.

TD Waterhouse Canada Inc. raised its holdings in Block, Inc. (NYSE:XYZ - Free Report) by 629.7% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 27,358 shares of the technology company's stock after buying an additional 23,609 shares during the period. TD Waterhouse Canada Inc.'s holdings in Block were worth $1,781,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the business. City Holding Co. acquired a new stake in shares of Block during the third quarter worth about $27,000. Cromwell Holdings LLC acquired a new stake in shares of Block during the third quarter worth about $27,000. Cary Street Partners Investment Advisory LLC acquired a new stake in shares of Block during the third quarter worth about $28,000. Sound Income Strategies LLC increased its position in shares of Block by 57.1% during the fourth quarter. Sound Income Strategies LLC now owns 443 shares of the technology company's stock worth $29,000 after purchasing an additional 161 shares in the last quarter. Finally, Quent Capital LLC acquired a new stake in shares of Block during the third quarter worth about $30,000. 70.44% of the stock is currently owned by institutional investors and hedge funds.

Block Stock Performance

NYSE XYZ opened at $69.95 on Friday. The company has a quick ratio of 2.20, a current ratio of 2.20 and a debt-to-equity ratio of 0.26. Block, Inc. has a 52-week low of $44.27 and a 52-week high of $82.50. The business's 50-day moving average price is $60.93 and its 200 day moving average price is $64.73. The firm has a market cap of $41.91 billion, a P/E ratio of 33.31, a P/E/G ratio of 1.13 and a beta of 2.61.

Block (NYSE:XYZ - Get Free Report) last released its quarterly earnings results on Thursday, February 26th. The technology company reported $0.65 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.26 by $0.39. Block had a return on equity of 6.66% and a net margin of 5.40%.The firm had revenue of $6.25 billion for the quarter. During the same period in the prior year, the business earned $0.71 EPS. The business's quarterly revenue was up 3.6% compared to the same quarter last year. On average, equities research analysts expect that Block, Inc. will post 2.22 earnings per share for the current year.

Insider Buying and Selling

In related news, insider Chrysty Esperanza sold 3,000 shares of the firm's stock in a transaction dated Tuesday, April 21st. The stock was sold at an average price of $75.00, for a total transaction of $225,000.00. Following the transaction, the insider owned 268,169 shares of the company's stock, valued at $20,112,675. This trade represents a 1.11% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Brian Grassadonia sold 10,349 shares of the firm's stock in a transaction dated Tuesday, February 24th. The stock was sold at an average price of $50.00, for a total value of $517,450.00. Following the transaction, the insider directly owned 503,784 shares in the company, valued at approximately $25,189,200. This represents a 2.01% decrease in their position. The SEC filing for this sale provides additional information. In the last ninety days, insiders sold 49,725 shares of company stock worth $3,401,393. Corporate insiders own 10.85% of the company's stock.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on XYZ. Cantor Fitzgerald lifted their target price on Block from $78.00 to $88.00 and gave the stock an "overweight" rating in a research report on Tuesday. Royal Bank Of Canada reiterated an "outperform" rating and set a $90.00 target price on shares of Block in a research report on Tuesday, March 17th. BTIG Research reiterated a "buy" rating and set a $90.00 target price on shares of Block in a research report on Wednesday. Zacks Research upgraded Block from a "hold" rating to a "strong-buy" rating in a research report on Monday, April 13th. Finally, Truist Financial upgraded Block from a "hold" rating to a "buy" rating and lifted their target price for the stock from $72.00 to $77.00 in a research report on Wednesday, March 18th. Four equities research analysts have rated the stock with a Strong Buy rating, twenty-seven have given a Buy rating, seven have assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $82.67.

Block Company 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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