4,367 Shares in Block, Inc. $XYZ Purchased by Western Wealth Management LLC

Western Wealth Management LLC bought a new stake in Block, Inc. (NYSE:XYZ) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 4,367 shares of the technology company’s stock, valued at approximately $297,000.

Several other hedge funds also recently modified their holdings of the company. Rockefeller Capital Management L.P. purchased a new stake in shares of Block during the second quarter worth about $46,862,000. Westwood Holdings Group Inc. acquired a new stake in Block during the second quarter worth approximately $441,000. Glaxis Capital Management LLC acquired a new stake in Block during the second quarter worth approximately $679,000. Intech Investment Management LLC purchased a new stake in Block in the 2nd quarter worth approximately $1,146,000. Finally, Cetera Investment Advisers acquired a new position in Block in the 2nd quarter valued at $5,701,000. 70.44% of the stock is owned by institutional investors and hedge funds.

Block Price Performance

Shares of Block stock opened at $57.55 on Wednesday. The business’s fifty day moving average price is $73.87 and its 200 day moving average price is $70.27. Block, Inc. has a twelve month low of $44.27 and a twelve month high of $99.26. The company has a current ratio of 2.18, a quick ratio of 2.18 and a debt-to-equity ratio of 0.25. The stock has a market capitalization of $34.97 billion, a P/E ratio of 11.60, a PEG ratio of 3.03 and a beta of 2.73.

Block (NYSE:XYZ) last announced its quarterly earnings results on Thursday, November 6th. The technology company reported $0.54 EPS for the quarter, topping the consensus estimate of $0.25 by $0.29. The company had revenue of $6.11 billion during the quarter. Block had a return on equity of 7.41% and a net margin of 12.99%.The business’s revenue was up 2.3% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.53 earnings per share. As a group, research analysts anticipate that Block, Inc. will post 2.54 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on the company. Weiss Ratings reissued a “hold (c+)” rating on shares of Block in a research note on Wednesday, October 8th. Keefe, Bruyette & Woods upped their target price on Block from $80.00 to $95.00 and gave the company an “outperform” rating in a research note on Friday, August 8th. Sanford C. Bernstein raised their price target on Block from $75.00 to $90.00 and gave the stock an “outperform” rating in a research note on Tuesday, July 22nd. Raymond James Financial restated an “outperform” rating and issued a $95.00 price target (up previously from $79.00) on shares of Block in a report on Friday, August 8th. Finally, Jefferies Financial Group upped their price objective on shares of Block from $90.00 to $95.00 and gave the company a “buy” rating in a research note on Tuesday, October 21st. Three research analysts have rated the stock with a Strong Buy rating, twenty-one have issued a Buy rating, eleven have given a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $82.36.

Insider Activity

In related news, CFO Amrita Ahuja sold 1,276 shares of the firm’s stock in a transaction that occurred on Friday, October 3rd. The shares were sold at an average price of $76.69, for a total value of $97,856.44. Following the transaction, the chief financial officer owned 282,924 shares in the company, valued at approximately $21,697,441.56. This trade represents a 0.45% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Owen Britton Jennings sold 1,050 shares of Block stock in a transaction that occurred on Thursday, October 2nd. The shares were sold at an average price of $74.77, for a total transaction of $78,508.50. Following the transaction, the insider directly owned 253,956 shares in the company, valued at approximately $18,988,290.12. This trade represents a 0.41% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last 90 days, insiders have sold 115,441 shares of company stock worth $8,778,247. Insiders own 10.49% 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.