Gilbert & Cook Inc. Invests $443,000 in Block, Inc. $XYZ

Gilbert & Cook Inc. purchased a new stake in shares of Block, Inc. (NYSE:XYZ) during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor purchased 6,519 shares of the technology company’s stock, valued at approximately $443,000.

Other institutional investors also recently bought and sold shares of the company. Motley Fool Asset Management LLC purchased a new position in shares of Block during the 2nd quarter worth about $2,055,000. Lane Generational LLC purchased a new position in shares of Block during the second quarter valued at approximately $6,043,000. Bessemer Group Inc. bought a new position in shares of Block during the second quarter valued at approximately $62,389,000. OVERSEA CHINESE BANKING Corp Ltd purchased a new stake in shares of Block in the second quarter worth approximately $6,094,000. Finally, Cidel Asset Management Inc. purchased a new stake in shares of Block in the second quarter worth approximately $311,000. 70.44% of the stock is currently owned by institutional investors.

Insider Activity

In other Block 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 transaction of $60,000.00. Following the completion of the sale, the chief accounting officer directly owned 102,308 shares of the company’s stock, valued at approximately $8,184,640. This represents a 0.73% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, insider Owen Britton Jennings sold 1,050 shares of Block stock in a transaction that occurred on Thursday, October 2nd. The stock was 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 approximately $18,988,290.12. The trade was a 0.41% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 119,441 shares of company stock worth $9,085,327 over the last ninety days. 10.49% of the stock is currently owned by corporate insiders.

Block Stock Performance

Shares of XYZ stock opened at $75.91 on Monday. The firm has a market cap of $46.27 billion, a price-to-earnings ratio of 16.25, a PEG ratio of 3.09 and a beta of 2.73. Block, Inc. has a 52-week low of $44.27 and a 52-week high of $99.26. The company has a quick ratio of 1.96, a current ratio of 1.96 and a debt-to-equity ratio of 0.16. The company’s 50 day moving average is $76.62 and its 200 day moving average is $69.38.

Block (NYSE:XYZ) last announced its earnings results on Thursday, August 7th. The technology company reported $0.62 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.21 by $0.41. Block had a return on equity of 7.85% and a net margin of 12.32%.The business had revenue of $6.05 billion for the quarter, compared to analysts’ expectations of $6.32 billion. The business’s revenue for the quarter was down 1.6% compared to the same quarter last year. On average, sell-side analysts anticipate that Block, Inc. will post 2.54 EPS for the current fiscal year.

Analyst Ratings Changes

XYZ has been the topic of several research analyst reports. Morgan Stanley upped their price objective on Block from $73.00 to $77.00 and gave the company an “equal weight” rating in a research report on Monday, August 11th. Wells Fargo & Company raised shares of Block to a “strong-buy” rating in a research note on Wednesday, October 22nd. Zacks Research raised shares of Block from a “hold” rating to a “strong-buy” rating in a research note on Monday, October 13th. Bank of America boosted their price objective on shares of Block from $88.00 to $94.00 and gave the company a “buy” rating in a research report on Friday, August 8th. Finally, Raymond James Financial restated an “outperform” rating and issued a $95.00 target price (up from $79.00) on shares of Block in a research note on Friday, August 8th. Four investment analysts have rated the stock with a Strong Buy rating, twenty-two have given a Buy rating, nine have assigned a Hold rating and three have given a Sell rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $82.42.

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.