Block, Inc. $XYZ Holdings Lowered by Teachers Retirement System of The State of Kentucky

Teachers Retirement System of The State of Kentucky trimmed its stake in shares of Block, Inc. (NYSE:XYZ – Free Report) by 7.0% during the fourth quarter, Holdings Channel reports. The institutional investor owned 125,307 shares of the technology company’s stock after selling 9,377 shares during the period. Teachers Retirement System of The State of Kentucky’s holdings in Block were worth $8,156,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Vanguard Group Inc. raised its position in shares of Block by 23.1% during the 3rd quarter. Vanguard Group Inc. now owns 67,626,485 shares of the technology company’s stock worth $4,887,366,000 after buying an additional 12,709,824 shares in the last quarter. Sands Capital Management LLC raised its position in shares of Block by 12.2% during the 3rd quarter. Sands Capital Management LLC now owns 11,603,057 shares of the technology company’s stock worth $838,553,000 after buying an additional 1,262,317 shares in the last quarter. Capital World Investors raised its position in shares of Block by 192.7% during the 3rd quarter. Capital World Investors now owns 11,296,224 shares of the technology company’s stock worth $816,378,000 after buying an additional 7,436,380 shares in the last quarter. Ameriprise Financial Inc. bought a new stake in shares of Block during the 2nd quarter worth about $535,305,000. Finally, Viking Global Investors LP bought a new stake in shares of Block during the 2nd quarter worth about $368,213,000. 70.44% of the stock is currently owned by institutional investors.

Insider Activity

In other news, insider Brian Grassadonia sold 1,769 shares of the business’s stock in a transaction that occurred on Monday, April 6th. The shares were sold at an average price of $60.25, for a total transaction of $106,582.25. Following the sale, the insider owned 500,763 shares in the company, valued at $30,170,970.75. The trade was a 0.35% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Amrita Ahuja sold 30,919 shares of the business’s stock in a transaction that occurred on Tuesday, April 21st. The shares were sold at an average price of $75.00, for a total transaction of $2,318,925.00. Following the sale, the chief financial officer owned 500,816 shares in the company, valued at $37,561,200. This represents a 5.81% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 49,725 shares of company stock worth $3,401,393 over the last three months. 10.49% of the stock is owned by insiders.

Block Stock Up 0.1%

NYSE XYZ opened at $71.70 on Monday. The company has a debt-to-equity ratio of 0.26, a current ratio of 2.20 and a quick ratio of 2.20. The company’s 50 day simple moving average is $61.37 and its 200 day simple moving average is $64.47. Block, Inc. has a 12 month low of $44.27 and a 12 month high of $82.50. The company has a market capitalization of $42.96 billion, a P/E ratio of 34.14, a PEG ratio of 1.04 and a beta of 2.61.

Block (NYSE:XYZ – Get Free Report) last released its earnings results on Thursday, February 26th. The technology company reported $0.65 EPS for the quarter, topping analysts’ consensus estimates of $0.26 by $0.39. Block had a net margin of 5.40% and a return on equity of 6.66%. The business had revenue of $6.25 billion for the quarter. During the same quarter in the previous year, the firm earned $0.71 earnings per share. The firm’s revenue for the quarter was up 3.6% compared to the same quarter last year. Equities research analysts expect that Block, Inc. will post 2.22 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of research firms recently commented on XYZ. Piper Sandler dropped their target price on shares of Block from $55.00 to $51.00 and set an “underweight” rating on the stock in a report on Wednesday, January 14th. Wall Street Zen downgraded shares of Block from a “buy” rating to a “hold” rating in a report on Sunday, April 19th. BMO Capital Markets began coverage on shares of Block in a report on Tuesday, April 21st. They issued a “market perform” rating and a $74.00 target price on the stock. Bank of America dropped their target price on shares of Block from $85.00 to $80.00 and set a “buy” rating on the stock in a report on Wednesday, March 25th. Finally, BNP Paribas Exane upgraded shares of Block from a “hold” rating to an “outperform” rating and set a $83.00 target price on the stock in a report on Wednesday, January 7th. Four investment analysts have rated the stock with a Strong Buy rating, twenty-seven have issued a Buy rating, seven have given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, Block currently has a consensus rating of “Moderate Buy” and a consensus price target of $82.78.

Read Our Latest Research Report on XYZ

Block Profile

(Free Report)

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.

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