10,960 Shares in Block, Inc. $XYZ Bought by Canada Post Corp Registered Pension Plan

Canada Post Corp Registered Pension Plan acquired a new stake in Block, Inc. (NYSE:XYZ) during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 10,960 shares of the technology company’s stock, valued at approximately $826,000.

A number of other large investors also recently bought and sold shares of the company. S Bank Fund Management Ltd acquired a new position in shares of Block during the second quarter worth about $92,000. Praxis Investment Management Inc. acquired a new stake in Block in the second quarter valued at about $508,000. Nordea Investment Management AB purchased a new stake in Block in the 2nd quarter valued at approximately $3,105,000. SilverOak Wealth Management LLC acquired a new position in Block during the 2nd quarter worth approximately $218,000. Finally, Private Trust Co. NA purchased a new position in shares of Block during the 2nd quarter worth approximately $94,000. Hedge funds and other institutional investors own 70.44% of the company’s stock.

Insiders Place Their Bets

In other Block news, CFO Amrita Ahuja sold 9,959 shares of the business’s stock in a transaction on Friday, November 21st. The stock was sold at an average price of $61.40, for a total value of $611,482.60. Following the completion of the transaction, the chief financial officer directly owned 272,965 shares in the company, valued at approximately $16,760,051. The trade was a 3.52% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Brian Grassadonia sold 8,085 shares of the stock in a transaction on Monday, November 24th. The stock was sold at an average price of $61.96, for a total value of $500,946.60. Following the transaction, the insider directly owned 521,352 shares in the company, valued at approximately $32,302,969.92. This represents a 1.53% decrease in their position. The SEC filing for this sale provides additional information. Over the last quarter, insiders have sold 54,796 shares of company stock valued at $3,395,943. 10.85% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on the company. Cantor Fitzgerald raised Block to a “strong-buy” rating in a report on Tuesday, January 27th. Weiss Ratings restated a “hold (c)” rating on shares of Block in a research report on Monday, December 29th. Zacks Research downgraded shares of Block from a “strong-buy” rating to a “hold” rating in a report on Monday, November 10th. Jefferies Financial Group raised 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. Finally, BNP Paribas Exane raised shares of Block from a “hold” rating to an “outperform” rating and set a $83.00 price objective on the stock in a report on Wednesday, January 7th. Three equities research analysts have rated the stock with a Strong Buy rating, twenty-three have assigned a Buy rating, nine have assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $82.48.

Block Stock Up 5.1%

XYZ opened at $56.09 on Monday. The firm has a market cap of $34.08 billion, a P/E ratio of 11.31, a PEG ratio of 1.15 and a beta of 2.67. The business’s fifty day simple moving average is $64.19 and its 200 day simple moving average is $70.59. Block, Inc. has a 52 week low of $44.27 and a 52 week high of $88.73. The company has a quick ratio of 2.18, a current ratio of 2.18 and a debt-to-equity ratio of 0.25.

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

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.