FNY Investment Advisers LLC Purchases Shares of 4,434 Block, Inc. $XYZ

FNY Investment Advisers LLC purchased a new stake in shares of Block, Inc. (NYSE:XYZ) in the second quarter, according to the company in its most recent 13F filing with the SEC. The fund purchased 4,434 shares of the technology company’s stock, valued at approximately $301,000.

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

Analysts Set New Price Targets

XYZ has been the subject of several recent analyst reports. Wall Street Zen upgraded shares of Block from a “sell” rating to a “hold” rating in a research note on Saturday, July 5th. Weiss Ratings reiterated a “hold (c+)” rating on shares of Block in a research note on Wednesday, October 8th. Needham & Company LLC reiterated a “buy” rating and issued a $100.00 target price (up previously from $80.00) on shares of Block in a research note on Friday, August 8th. Piper Sandler reiterated an “underweight” rating and issued a $58.00 target price (up previously from $50.00) on shares of Block in a research note on Friday, August 8th. Finally, Bank of America upped their target price on shares of Block from $88.00 to $94.00 and gave the stock a “buy” rating in a research note on Friday, August 8th. Two analysts have rated the stock with a Strong Buy rating, twenty-four have assigned a Buy rating, nine have given a Hold rating and three have assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $82.30.

Insider Buying and Selling at Block

In other Block news, insider Owen Britton Jennings sold 1,050 shares of the company’s stock in a transaction dated Thursday, October 2nd. The shares were sold at an average price of $74.77, for a total transaction of $78,508.50. Following the sale, the insider directly owned 253,956 shares of the company’s stock, valued at $18,988,290.12. This represents a 0.41% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Brian Grassadonia sold 35,145 shares of the company’s stock in a transaction dated Wednesday, October 8th. The shares were sold at an average price of $80.00, for a total transaction of $2,811,600.00. Following the sale, the insider directly owned 535,896 shares in the company, valued at approximately $42,871,680. This trade represents a 6.15% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 123,041 shares of company stock valued at $9,355,075. Insiders own 10.85% of the company’s stock.

Block Price Performance

Shares of NYSE:XYZ opened at $75.85 on Thursday. The company’s 50-day moving average is $76.32 and its 200 day moving average is $67.85. The company has a debt-to-equity ratio of 0.16, a quick ratio of 1.96 and a current ratio of 1.96. The company has a market capitalization of $46.24 billion, a P/E ratio of 16.24, a price-to-earnings-growth ratio of 3.17 and a beta of 2.71. Block, Inc. has a fifty-two week low of $44.27 and a fifty-two week high of $99.26.

Block (NYSE:XYZ) last issued its quarterly earnings results on Thursday, August 7th. The technology company reported $0.62 earnings per share for the quarter, topping analysts’ consensus estimates of $0.21 by $0.41. The company had revenue of $6.05 billion for the quarter, compared to the consensus estimate of $6.32 billion. Block had a net margin of 12.32% and a return on equity of 7.85%. The firm’s revenue for the quarter was down 1.6% compared to the same quarter last year. On average, equities research analysts forecast that Block, Inc. will post 2.54 earnings per share for the current year.

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.