Moser Wealth Advisors LLC Makes New Investment in Block, Inc. $XYZ

Key Points

• Moser Wealth Advisors LLC has acquired 4,257 shares of Block, Inc. valued at approximately $289,000, marking a new investment in the company during the 2nd quarter.
• Block, Inc. has received various analyst ratings, with target price predictions ranging from $58.00 to $80.00, and a consensus rating of "Moderate Buy" with an average price target of $82.30.
• Shares of Block have recently traded up by 3.5%, with a current share price of $78.59 and significant institutional ownership at 70.44%.

Moser Wealth Advisors LLC acquired a new position in shares of Block, Inc. (NYSE:XYZ - Free Report) during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 4,257 shares of the technology company's stock, valued at approximately $289,000.

Several other institutional investors have also recently bought and sold shares of XYZ. S Bank Fund Management Ltd acquired a new position in Block during the second quarter worth $92,000. Praxis Investment Management Inc. bought a new stake in shares of Block in the 2nd quarter worth $508,000. Nordea Investment Management AB bought a new stake in shares of Block in the 2nd quarter worth $3,105,000. SilverOak Wealth Management LLC bought a new stake in shares of Block in the 2nd quarter worth $218,000. Finally, Private Trust Co. NA bought a new stake in shares of Block in the 2nd quarter worth $94,000. Institutional investors and hedge funds own 70.44% of the company's stock.

Analyst Ratings Changes

Several analysts have recently issued reports on the stock. Piper Sandler reiterated an "underweight" rating and issued a $58.00 target price (up previously from $50.00) on shares of Block in a research note on Friday, August 8th. Macquarie upped their target price on shares of Block from $50.00 to $67.00 and gave the stock a "neutral" rating in a research note on Tuesday, August 12th. Oppenheimer increased their price target on shares of Block from $70.00 to $71.00 and gave the company an "outperform" rating in a research report on Wednesday, July 2nd. Citigroup upgraded shares of Block to a "strong-buy" rating in a research report on Thursday. Finally, BTIG Research set a $80.00 price target on shares of Block and gave the company a "buy" rating in a research report on Tuesday, August 5th. Four equities research analysts have rated the stock with a Strong Buy rating, twenty-two have given a Buy rating, nine have assigned a Hold rating and three have issued a Sell rating to the company's stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of $82.30.

Block Trading Up 3.5%

Shares of Block stock opened at $78.59 on Friday. Block, Inc. has a 12-month low of $44.27 and a 12-month high of $99.26. The company has a market cap of $47.91 billion, a price-to-earnings ratio of 16.83, a PEG ratio of 3.09 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. The company's 50-day moving average price is $76.37 and its 200-day moving average price is $68.04.

Block (NYSE:XYZ - Get Free Report) last announced its quarterly 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. Block had a net margin of 12.32% and a return on equity of 7.85%. The firm had revenue of $6.05 billion for the quarter, compared to the consensus estimate of $6.32 billion. The firm's revenue was down 1.6% on a year-over-year basis. On average, equities analysts expect that Block, Inc. will post 2.54 earnings per share for the current fiscal year.

Insider Transactions at Block

In other news, insider Brian Grassadonia sold 35,145 shares of the stock in a transaction dated Wednesday, October 8th. The shares were sold at an average price of $80.00, for a total value of $2,811,600.00. Following the sale, the insider directly owned 535,896 shares of the company's stock, valued at approximately $42,871,680. This represents a 6.15% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Owen Britton Jennings sold 1,050 shares of the stock in a transaction dated Thursday, October 2nd. The stock was sold at an average price of $74.77, for a total transaction of $78,508.50. Following the completion of the sale, the insider directly owned 253,956 shares in the company, valued at approximately $18,988,290.12. The trade was a 0.41% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 123,041 shares of company stock valued at $9,355,075. Company insiders own 10.85% of the company's stock.

About Block

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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