Block, Inc. $XYZ Shares Purchased by Inceptionr LLC

Key Points

• Inceptionr LLC boosted its stake in Block by 455.1%, buying an additional 15,971 shares to hold 19,480 shares valued at about $1,408,000 as of the latest 13F filing.
• Several large institutions (Vanguard, Sands Capital, Geode, Dragoneer, Ameriprise) opened sizable positions, and institutional investors now own 70.44% of the company’s stock.
• Block recently reported an earnings beat (EPS $0.65 vs. $0.26 expected) on $6.25B revenue (+3.6% YoY), and analysts have a consensus rating of "Moderate Buy" with a consensus target of $82.79 and some price targets raised up to $100.

Inceptionr LLC increased its position in shares of Block, Inc. (NYSE:XYZ - Free Report) by 455.1% during the third quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 19,480 shares of the technology company's stock after buying an additional 15,971 shares during the period. Inceptionr LLC's holdings in Block were worth $1,408,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in XYZ. Vanguard Group Inc. acquired a new position in shares of Block in the second quarter worth about $3,730,489,000. Sands Capital Management LLC acquired a new stake in shares of Block during the 2nd quarter valued at about $702,446,000. Geode Capital Management LLC purchased a new position in shares of Block in the 2nd quarter valued at about $634,721,000. Dragoneer Investment Group LLC acquired a new position in Block in the 2nd quarter worth about $627,233,000. Finally, Ameriprise Financial Inc. acquired a new position in Block in the 2nd quarter worth about $535,305,000. Institutional investors and hedge funds own 70.44% of the company's stock.

Analyst Upgrades and Downgrades

Several brokerages have commented on XYZ. Royal Bank Of Canada reissued an "outperform" rating and issued a $90.00 price objective on shares of Block in a report on Thursday, November 20th. Stephens reaffirmed an "overweight" rating and set a $95.00 target price on shares of Block in a research note on Thursday, November 20th. TD Cowen increased their target price on Block from $91.00 to $95.00 and gave the company a "buy" rating in a research report on Friday, February 27th. Oppenheimer lifted their price target on shares of Block from $85.00 to $89.00 and gave the company an "outperform" rating in a research note on Friday, February 27th. Finally, Mizuho boosted their price target on shares of Block from $88.00 to $100.00 and gave the stock an "outperform" rating in a report on Thursday, November 20th. Three research analysts have rated the stock with a Strong Buy rating, twenty-five have assigned a Buy rating, eight have given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, Block currently has a consensus rating of "Moderate Buy" and a consensus target price of $82.79.

Block Price Performance

Shares of Block stock opened at $66.54 on Monday. The stock has a market capitalization of $40.43 billion, a P/E ratio of 31.69, a PEG ratio of 1.16 and a beta of 2.64. The business has a 50 day simple moving average of $61.23 and a two-hundred day simple moving average of $67.76. Block, Inc. has a 12 month low of $44.27 and a 12 month high of $82.50. The company has a debt-to-equity ratio of 0.26, a current ratio of 2.20 and a quick ratio of 2.20.

Block (NYSE:XYZ - Get Free Report) last issued 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 firm earned $0.71 earnings per share. The business's revenue was up 3.6% on a year-over-year basis. As a group, analysts predict that Block, Inc. will post 2.54 EPS for the current fiscal year.

Insider Buying and Selling at Block

In other news, insider Brian Grassadonia sold 10,349 shares of the stock in a transaction dated Tuesday, February 24th. The shares were sold at an average price of $50.00, for a total value of $517,450.00. Following the completion of the sale, the insider directly owned 503,784 shares in the company, valued at $25,189,200. This represents a 2.01% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider Owen Britton Jennings sold 3,555 shares of the firm's stock in a transaction dated Tuesday, March 3rd. The stock was sold at an average price of $63.41, for a total transaction of $225,422.55. Following the completion of the transaction, the insider directly owned 231,262 shares in the company, valued at approximately $14,664,323.42. This represents a 1.51% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last 90 days, insiders sold 20,352 shares of company stock worth $1,165,720. Company insiders own 10.49% of the company's stock.

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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