Hel Ved Capital Management Ltd Has $438,000 Stock Holdings in Block, Inc. $XYZ

Key Points

• Hel Ved Capital Management Ltd cut its stake in Block by 90.9% in the third quarter, selling 60,170 shares and leaving it with 6,055 shares valued at $438,000.
• Block beat expectations in its most recent quarter with EPS of $0.65 (vs. $0.26 est.) and $6.25 billion in revenue (up 3.6% YoY), and analysts hold a consensus "Moderate Buy" with a $82.79 price target.
• Insiders sold 20,352 shares worth about $1.17M over the last quarter; insiders now own 10.85% of the company while institutional investors hold 70.44%.

Hel Ved Capital Management Ltd reduced its stake in shares of Block, Inc. (NYSE:XYZ - Free Report) by 90.9% during the 3rd quarter, according to its most recent 13F filing with the SEC. The firm owned 6,055 shares of the technology company's stock after selling 60,170 shares during the period. Hel Ved Capital Management Ltd's holdings in Block were worth $438,000 as of its most recent filing with the SEC.

Other institutional investors have also recently bought and sold shares of the company. Howard Capital Management Inc. increased its position in shares of Block by 3.2% during the third quarter. Howard Capital Management Inc. now owns 4,439 shares of the technology company's stock worth $321,000 after acquiring an additional 138 shares in the last quarter. Whittier Trust Co. of Nevada Inc. boosted its stake in Block by 23.1% in the 3rd quarter. Whittier Trust Co. of Nevada Inc. now owns 853 shares of the technology company's stock worth $66,000 after purchasing an additional 160 shares during the period. Jones Financial Companies Lllp increased its holdings in Block by 0.8% during the 3rd quarter. Jones Financial Companies Lllp now owns 21,183 shares of the technology company's stock worth $1,561,000 after purchasing an additional 167 shares in the last quarter. Vista Investment Partners II LLC raised its stake in shares of Block by 3.6% in the 3rd quarter. Vista Investment Partners II LLC now owns 5,334 shares of the technology company's stock valued at $385,000 after purchasing an additional 184 shares during the period. Finally, Rothschild Investment LLC lifted its holdings in shares of Block by 59.7% in the third quarter. Rothschild Investment LLC now owns 495 shares of the technology company's stock valued at $36,000 after purchasing an additional 185 shares in the last quarter. Institutional investors own 70.44% of the company's stock.

Insider Activity

In other Block news, CAO Ajmere Dale sold 1,173 shares of the company's stock in a transaction that occurred on Friday, January 2nd. The stock was sold at an average price of $65.09, for a total value of $76,350.57. Following the sale, the chief accounting officer owned 98,412 shares in the company, valued at $6,405,637.08. This represents a 1.18% decrease in their ownership of the stock. The transaction 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 that occurred on Tuesday, March 3rd. The shares were sold at an average price of $63.41, for a total value of $225,422.55. Following the completion of the sale, the insider directly owned 231,262 shares of the company's stock, valued at approximately $14,664,323.42. The trade was a 1.51% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders have sold 20,352 shares of company stock valued at $1,165,720. Company insiders own 10.85% of the company's stock.

Block Price Performance

Shares of XYZ opened at $66.54 on Friday. 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 company's fifty day simple moving average is $61.23 and its 200 day simple moving average is $67.85. Block, Inc. has a 1-year low of $44.27 and a 1-year high of $82.50. The company has a market cap of $40.43 billion, a price-to-earnings ratio of 31.69, a PEG ratio of 1.24 and a beta of 2.65.

Block (NYSE:XYZ - Get Free Report) last announced its quarterly earnings results on Thursday, February 26th. The technology company reported $0.65 EPS for the quarter, beating analysts' consensus estimates of $0.26 by $0.39. The firm had revenue of $6.25 billion during the quarter. Block had a net margin of 5.40% and a return on equity of 6.66%. The business's revenue was up 3.6% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.71 EPS. On average, research analysts forecast that Block, Inc. will post 2.54 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research firms recently issued reports on XYZ. Truist Financial set a $72.00 price objective on Block in a report on Tuesday, January 20th. Compass Point raised shares of Block from a "strong sell" rating to a "hold" rating in a research note on Friday, November 21st. Zacks Research lowered shares of Block from a "strong-buy" rating to a "hold" rating in a research report on Monday, November 10th. Stephens restated an "overweight" rating and set a $95.00 target price on shares of Block in a report on Thursday, November 20th. Finally, HSBC raised shares of Block from a "hold" rating to a "buy" rating and raised their target price for the company from $70.00 to $77.00 in a research report on Tuesday. Three investment 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 given a Sell rating to the company. According to data from MarketBeat, Block currently has a consensus rating of "Moderate Buy" and a consensus price target of $82.79.

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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