ST Germain D J Co. Inc. Has $6.26 Million Stake in Block, Inc. $XYZ

Key Points

• ST Germain D J Co. Inc. trimmed its position in Block by 17.1%, selling 19,795 shares and leaving it with 96,105 shares worth about $6.26 million per its latest 13F filing.
• Company insiders sold 49,725 shares in the past three months — including CFO Amrita Ahuja’s sale of 30,919 shares under a 10b5‑1 plan — reducing insider ownership to 10.85%.
• Block topped quarterly estimates with $0.65 EPS vs. $0.26 expected and $6.25 billion in revenue, and analysts hold a consensus of “Moderate Buy” with an average target of $82.78.

ST Germain D J Co. Inc. lowered its stake in shares of Block, Inc. (NYSE:XYZ - Free Report) by 17.1% in the fourth quarter, according to its most recent 13F filing with the SEC. The fund owned 96,105 shares of the technology company's stock after selling 19,795 shares during the period. ST Germain D J Co. Inc.'s holdings in Block were worth $6,255,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Cromwell Holdings LLC purchased a new position in shares of Block in the 3rd quarter worth approximately $27,000. City Holding Co. purchased a new position in shares of Block in the 3rd quarter worth approximately $27,000. Cary Street Partners Investment Advisory LLC purchased a new position in shares of Block in the 3rd quarter worth approximately $28,000. RMG Wealth Management LLC purchased a new position in shares of Block in the 3rd quarter worth approximately $30,000. Finally, Quent Capital LLC purchased a new position in shares of Block in the 3rd quarter worth approximately $30,000. Hedge funds and other institutional investors own 70.44% of the company's stock.

Analyst Upgrades and Downgrades

Several research firms recently commented on XYZ. Royal Bank Of Canada reiterated an "outperform" rating and issued a $90.00 price objective on shares of Block in a research note on Tuesday, March 17th. Wall Street Zen downgraded Block from a "buy" rating to a "hold" rating in a research note on Sunday, April 19th. Weiss Ratings reiterated a "hold (c)" rating on shares of Block in a research note on Friday, March 27th. Cantor Fitzgerald upped their price objective on Block from $78.00 to $88.00 and gave the company an "overweight" rating in a research note on Tuesday, April 21st. Finally, Citigroup dropped their price objective on Block from $105.00 to $85.00 and set a "buy" rating on the stock in a research note on Thursday, February 5th. Four analysts have rated the stock with a Strong Buy rating, twenty-seven have assigned a Buy rating, seven have assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of $82.78.

Insider Activity

In other news, insider Owen Britton Jennings sold 3,555 shares of the company's stock in a transaction 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 transaction, the insider owned 231,262 shares of the company's stock, valued at approximately $14,664,323.42. This represents a 1.51% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CFO Amrita Ahuja sold 30,919 shares of the company's stock in a transaction on Tuesday, April 21st. The stock was sold at an average price of $75.00, for a total transaction of $2,318,925.00. Following the completion of the transaction, the chief financial officer directly owned 500,816 shares in the company, valued at approximately $37,561,200. The trade was a 5.81% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last three months, insiders sold 49,725 shares of company stock worth $3,401,393. Company insiders own 10.85% of the company's stock.

Block Trading Up 2.5%

Shares of XYZ stock opened at $71.70 on Friday. The company's fifty day simple moving average is $61.37 and its two-hundred day simple moving average is $64.59. 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, Inc. has a 1 year low of $44.27 and a 1 year high of $82.50. The stock has a market capitalization of $42.96 billion, a price-to-earnings ratio of 34.14, a PEG ratio of 1.02 and a beta of 2.61.

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

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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