Creekmur Asset Management LLC Purchases Shares of 10,803 Block, Inc. $XYZ

Creekmur Asset Management LLC purchased a new stake in Block, Inc. (NYSE:XYZ) during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 10,803 shares of the technology company’s stock, valued at approximately $734,000.

Other institutional investors also recently modified their holdings of the company. Deseret Mutual Benefit Administrators bought a new position in shares of Block in the second quarter valued at $33,000. Crewe Advisors LLC bought a new position in shares of Block in the second quarter valued at $46,000. Twin Lakes Capital Management LLC bought a new position in shares of Block in the second quarter valued at $46,000. CNB Bank bought a new position in shares of Block in the second quarter valued at $51,000. Finally, Washington Trust Advisors Inc. purchased a new position in Block during the 2nd quarter worth approximately $52,000. Institutional investors own 70.44% of the company’s stock.

Block Trading Down 3.4%

NYSE XYZ opened at $73.91 on Friday. Block, Inc. has a 1-year low of $44.27 and a 1-year high of $99.26. 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 has a market capitalization of $45.06 billion, a PE ratio of 15.83, a price-to-earnings-growth ratio of 3.12 and a beta of 2.71. The firm’s fifty day simple moving average is $76.68 and its 200-day simple moving average is $69.02.

Block (NYSE:XYZ) last posted its quarterly earnings results on Thursday, August 7th. The technology company reported $0.62 earnings per share 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 business had revenue of $6.05 billion for the quarter, compared to the consensus estimate of $6.32 billion. The firm’s revenue for the quarter was down 1.6% compared to the same quarter last year. As a group, sell-side analysts anticipate that Block, Inc. will post 2.54 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several brokerages have issued reports on XYZ. Weiss Ratings reissued a “hold (c+)” rating on shares of Block in a research note on Wednesday, October 8th. Mizuho boosted their target price on shares of Block from $71.00 to $88.00 and gave the company an “outperform” rating in a research note on Thursday, August 14th. KeyCorp reissued an “overweight” rating and set a $94.00 target price on shares of Block in a research note on Wednesday, October 22nd. Sanford C. Bernstein boosted their target price on shares of Block from $75.00 to $90.00 and gave the company an “outperform” rating in a research note on Tuesday, July 22nd. Finally, Citigroup raised shares of Block to a “strong-buy” rating in a research note on Thursday, October 23rd. Four investment analysts have rated the stock with a Strong Buy rating, twenty-two have issued a Buy rating, nine have issued a Hold rating and three have assigned a Sell rating to the company’s stock. According to MarketBeat.com, Block currently has an average rating of “Moderate Buy” and an average price target of $82.42.

Insiders Place Their Bets

In other news, insider Chrysty Esperanza sold 3,609 shares of the company’s stock in a transaction on Thursday, August 21st. The shares were sold at an average price of $73.20, for a total value of $264,178.80. Following the transaction, the insider directly owned 127,212 shares of the company’s stock, valued at approximately $9,311,918.40. This represents a 2.76% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Brian Grassadonia sold 35,145 shares of the company’s stock in a transaction on Wednesday, October 8th. The stock was sold at an average price of $80.00, for a total transaction of $2,811,600.00. Following the completion of the transaction, the insider directly owned 535,896 shares in the company, valued at $42,871,680. This trade represents a 6.15% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 119,441 shares of company stock valued at $9,085,327 in the last three months. Company insiders own 10.85% of the company’s stock.

Block Company Profile

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.