Templeton & Phillips Capital Management LLC Purchases Shares of 3,103 Block, Inc. $XYZ

Templeton & Phillips Capital Management LLC purchased a new stake in Block, Inc. (NYSE:XYZ) during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund purchased 3,103 shares of the technology company’s stock, valued at approximately $211,000.

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

Analyst Ratings Changes

A number of brokerages have recently commented on XYZ. Evercore ISI boosted their price objective on shares of Block from $75.00 to $85.00 and gave the stock an “outperform” rating in a research report on Thursday, July 17th. Macquarie boosted their price objective on shares of Block from $50.00 to $67.00 and gave the stock a “neutral” rating in a research report on Tuesday, August 12th. KeyCorp reissued an “overweight” rating and issued a $94.00 price objective on shares of Block in a research report on Wednesday, October 22nd. Wall Street Zen raised shares of Block from a “sell” rating to a “hold” rating in a research report on Saturday, July 5th. Finally, Zacks Research raised shares of Block from a “hold” rating to a “strong-buy” rating in a research report on Monday, October 13th. Four research 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 stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $82.42.

Insider Activity

In other news, CAO Ajmere Dale sold 750 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 $60,000.00. Following the transaction, the chief accounting officer directly owned 102,308 shares of the company’s stock, valued at $8,184,640. This represents a 0.73% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Owen Britton Jennings sold 1,050 shares of the stock in a transaction dated Thursday, October 2nd. The shares were sold at an average price of $74.77, for a total transaction of $78,508.50. Following the completion of the transaction, the insider directly owned 253,956 shares in the company, valued at $18,988,290.12. The trade was a 0.41% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last three months, insiders sold 123,041 shares of company stock valued at $9,355,075. 10.85% of the stock is owned by corporate insiders.

Block Stock Performance

NYSE XYZ opened at $76.60 on Thursday. 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 firm’s fifty day moving average price is $76.68 and its two-hundred day moving average price is $68.99. Block, Inc. has a 1 year low of $44.27 and a 1 year high of $99.26. The firm has a market capitalization of $46.69 billion, a P/E ratio of 16.40, a price-to-earnings-growth ratio of 3.27 and a beta of 2.71.

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

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.