Cwm LLC Buys Shares of 12,646 Block, Inc. $XYZ

Cwm LLC bought a new position in shares of Block, Inc. (NYSE:XYZ) during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm bought 12,646 shares of the technology company’s stock, valued at approximately $914,000.

Several other institutional investors also recently modified their holdings of the stock. Nemes Rush Group LLC acquired a new stake in shares of Block in the 2nd quarter valued at approximately $26,000. Traub Capital Management LLC acquired a new position in Block during the second quarter valued at approximately $26,000. SouthState Corp bought a new stake in Block in the second quarter valued at approximately $29,000. First Horizon Advisors Inc. acquired a new stake in Block in the second quarter worth $30,000. Finally, Comprehensive Financial Planning Inc. PA bought a new position in shares of Block during the second quarter worth $31,000. 70.44% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other news, CFO Amrita Ahuja sold 1,101 shares of the business’s stock in a transaction on Friday, January 2nd. The shares were sold at an average price of $63.98, for a total value of $70,441.98. Following the sale, the chief financial officer owned 271,864 shares of the company’s stock, valued at $17,393,858.72. The trade was a 0.40% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CAO Ajmere Dale sold 1,173 shares of the firm’s stock in a transaction on Friday, January 2nd. The shares were sold at an average price of $65.09, for a total transaction of $76,350.57. Following the completion of the transaction, the chief accounting officer directly owned 98,412 shares of the company’s stock, valued at approximately $6,405,637.08. This trade represents a 1.18% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 54,796 shares of company stock valued at $3,395,943 over the last ninety days. Insiders own 10.49% of the company’s stock.

Analysts Set New Price Targets

XYZ has been the subject of a number of recent analyst reports. Weiss Ratings restated a “hold (c)” rating on shares of Block in a research report on Monday, December 29th. The Goldman Sachs Group decreased their target price on Block from $96.00 to $82.00 and set a “buy” rating for the company in a research note on Friday, November 7th. BTIG Research restated a “buy” rating and issued a $90.00 price target on shares of Block in a report on Thursday, November 20th. Wells Fargo & Company upgraded Block to a “strong-buy” rating in a report on Wednesday, October 22nd. Finally, Canaccord Genuity Group reiterated a “buy” rating and issued a $80.00 price objective on shares of Block in a research report on Tuesday, September 23rd. Three analysts have rated the stock with a Strong Buy rating, twenty-one have issued a Buy rating, twelve have given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $83.12.

Block Stock Up 2.2%

XYZ stock opened at $69.94 on Wednesday. The company has a debt-to-equity ratio of 0.25, a current ratio of 2.18 and a quick ratio of 2.18. The stock has a market capitalization of $42.50 billion, a P/E ratio of 14.10, a P/E/G ratio of 1.26 and a beta of 2.66. Block, Inc. has a fifty-two week low of $44.27 and a fifty-two week high of $94.25. The business has a 50-day moving average of $65.35 and a 200-day moving average of $71.45.

Block (NYSE:XYZ) last announced its earnings results on Thursday, November 6th. The technology company reported $0.54 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.25 by $0.29. Block had a return on equity of 5.54% and a net margin of 12.99%.The business had revenue of $6.11 billion for the quarter. During the same period in the prior year, the business posted $0.53 EPS. The firm’s quarterly revenue was up 2.3% compared to the same quarter last year. On average, sell-side analysts anticipate that Block, Inc. will post 2.54 earnings per share for the current fiscal year.

About Block

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.