10,500 Shares in Block, Inc. $XYZ Purchased by Hussman Strategic Advisors Inc.

Hussman Strategic Advisors Inc. acquired a new position in shares of Block, Inc. (NYSE:XYZ) during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 10,500 shares of the technology company’s stock, valued at approximately $759,000.

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

Block Price Performance

Shares of XYZ opened at $64.23 on Thursday. The stock has a market cap of $39.03 billion, a P/E ratio of 12.95, a price-to-earnings-growth ratio of 1.35 and a beta of 2.66. Block, Inc. has a 1 year low of $44.27 and a 1 year high of $94.25. The stock’s 50-day moving average price is $64.99 and its two-hundred day moving average price is $71.34. The company has a current ratio of 2.18, a quick ratio of 2.18 and a debt-to-equity ratio of 0.25.

Block (NYSE:XYZ) last issued its earnings results on Thursday, November 6th. The technology company reported $0.54 EPS for the quarter, beating the consensus estimate of $0.25 by $0.29. The firm had revenue of $6.11 billion during the quarter. Block had a net margin of 12.99% and a return on equity of 5.54%. The firm’s revenue for the quarter was up 2.3% on a year-over-year basis. During the same period in the previous year, the company posted $0.53 EPS. On average, equities analysts predict that Block, Inc. will post 2.54 earnings per share for the current year.

Wall Street Analyst Weigh In

XYZ has been the subject of a number of recent research reports. KeyCorp restated an “overweight” rating and set a $94.00 target price on shares of Block in a research report on Wednesday, October 22nd. Mizuho lifted their price objective on Block from $88.00 to $100.00 and gave the stock an “outperform” rating in a research report on Thursday, November 20th. Cantor Fitzgerald upgraded shares of Block to a “strong-buy” rating in a research report on Tuesday. Morgan Stanley raised their target price on shares of Block from $71.00 to $72.00 and gave the company an “equal weight” rating in a research note on Friday, November 21st. Finally, Needham & Company LLC reiterated a “buy” rating and set a $80.00 price target on shares of Block in a research report on Monday, November 24th. Four investment analysts have rated the stock with a Strong Buy rating, twenty-two have issued a Buy rating, nine have assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $83.09.

Insiders Place Their Bets

In other Block news, CAO Ajmere Dale sold 1,173 shares of the stock in a transaction dated Friday, January 2nd. The stock was sold at an average price of $65.09, for a total value of $76,350.57. Following the completion of the sale, the chief accounting officer directly 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Chrysty Esperanza sold 3,608 shares of the firm’s stock in a transaction dated Friday, November 21st. The stock was sold at an average price of $61.40, for a total value of $221,531.20. Following the sale, the insider directly owned 123,198 shares in the company, valued at approximately $7,564,357.20. This represents a 2.85% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 54,796 shares of company stock worth $3,395,943 over the last 90 days. 10.49% of the stock is currently owned by corporate insiders.

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.