SWS Partners Has $4.83 Million Stock Position in Block, Inc. $XYZ

SWS Partners increased its holdings in shares of Block, Inc. (NYSE:XYZ) by 69.8% in the 4th quarter, Holdings Channel.com reports. The institutional investor owned 74,247 shares of the technology company’s stock after purchasing an additional 30,515 shares during the period. Block makes up 0.9% of SWS Partners’ holdings, making the stock its 25th biggest holding. SWS Partners’ holdings in Block were worth $4,833,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors have also bought and sold shares of the business. Tema Etfs LLC raised its stake in Block by 27.0% during the fourth quarter. Tema Etfs LLC now owns 10,103 shares of the technology company’s stock worth $658,000 after acquiring an additional 2,147 shares in the last quarter. Bourgeon Capital Management LLC acquired a new stake in shares of Block in the 4th quarter valued at approximately $7,509,000. Nilsine Partners LLC boosted its stake in shares of Block by 4.1% in the 4th quarter. Nilsine Partners LLC now owns 6,936 shares of the technology company’s stock valued at $451,000 after purchasing an additional 274 shares in the last quarter. LeConte Wealth Management LLC grew its holdings in shares of Block by 14.1% during the 4th quarter. LeConte Wealth Management LLC now owns 3,483 shares of the technology company’s stock valued at $227,000 after purchasing an additional 430 shares during the last quarter. Finally, Polianta Ltd grew its holdings in shares of Block by 9.1% during the 4th quarter. Polianta Ltd now owns 21,500 shares of the technology company’s stock valued at $1,399,000 after purchasing an additional 1,800 shares during the last quarter. 70.44% of the stock is owned by institutional investors and hedge funds.

Block Stock Down 1.1%

NYSE:XYZ opened at $59.51 on Thursday. Block, Inc. has a one year low of $44.27 and a one year high of $82.50. 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 has a market cap of $35.65 billion, a PE ratio of 28.34, a P/E/G ratio of 1.04 and a beta of 2.65. The firm’s 50 day simple moving average is $58.85 and its 200 day simple moving average is $65.73.

Block (NYSE:XYZ) last announced its quarterly earnings results on Thursday, February 26th. The technology company reported $0.65 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.26 by $0.39. The firm had revenue of $6.25 billion during the quarter. Block had a net margin of 5.40% and a return on equity of 6.66%. The company’s revenue was up 3.6% compared to the same quarter last year. During the same quarter last year, the company posted $0.71 earnings per share. On average, research analysts anticipate that Block, Inc. will post 2.54 earnings per share for the current year.

Analysts Set New Price Targets

XYZ has been the subject of several research reports. TD Cowen increased their price objective on shares of Block from $91.00 to $95.00 and gave the company a “buy” rating in a research note on Friday, February 27th. Royal Bank Of Canada reaffirmed an “outperform” rating and set a $90.00 target price on shares of Block in a research note on Tuesday, March 17th. Raymond James Financial upgraded shares of Block to a “moderate buy” rating in a report on Friday, February 27th. Keefe, Bruyette & Woods dropped their price target on Block from $90.00 to $85.00 and set an “outperform” rating for the company in a research note on Friday, January 2nd. Finally, Wall Street Zen downgraded Block from a “buy” rating to a “hold” rating in a report on Saturday, March 28th. Three investment analysts have rated the stock with a Strong Buy rating, twenty-seven have issued a Buy rating, eight have assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, Block has a consensus rating of “Moderate Buy” and an average price target of $81.72.

Insider Buying and Selling at Block

In other Block news, insider Brian Grassadonia sold 10,349 shares of the company’s stock in a transaction dated Tuesday, February 24th. The stock was sold at an average price of $50.00, for a total value of $517,450.00. Following the sale, the insider owned 503,784 shares in the company, valued at approximately $25,189,200. The trade was a 2.01% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, CAO Ajmere Dale sold 1,173 shares of the stock in a transaction dated Friday, January 2nd. The shares were sold at an average price of $65.09, for a total value of $76,350.57. Following the completion of the sale, the chief accounting officer directly owned 98,412 shares of the company’s stock, valued at approximately $6,405,637.08. The trade was a 1.18% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders sold 20,352 shares of company stock worth $1,165,720. Company insiders own 10.85% of the company’s stock.

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.