Block, Inc. $XYZ Shares Sold by Mawer Investment Management Ltd.

Mawer Investment Management Ltd. decreased its holdings in shares of Block, Inc. (NYSE:XYZ) by 17.1% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 143,226 shares of the technology company’s stock after selling 29,579 shares during the quarter. Mawer Investment Management Ltd.’s holdings in Block were worth $10,531,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of XYZ. Wellington Grp LLC raised its stake in shares of Block by 60.9% during the third quarter. Wellington Grp LLC now owns 17,957 shares of the technology company’s stock worth $1,320,000 after buying an additional 6,798 shares during the last quarter. Diversified Trust Co bought a new position in Block in the third quarter valued at approximately $399,000. Allworth Financial LP boosted its stake in Block by 14.4% in the third quarter. Allworth Financial LP now owns 7,585 shares of the technology company’s stock valued at $576,000 after acquiring an additional 955 shares during the last quarter. Russell Investments Group Ltd. grew its holdings in Block by 4.7% during the 3rd quarter. Russell Investments Group Ltd. now owns 782,252 shares of the technology company’s stock worth $57,531,000 after acquiring an additional 35,252 shares during the period. Finally, Fifth Third Bancorp grew its holdings in Block by 0.8% during the 3rd quarter. Fifth Third Bancorp now owns 68,798 shares of the technology company’s stock worth $5,059,000 after acquiring an additional 540 shares during the period. Institutional investors and hedge funds own 70.44% of the company’s stock.

Insider Activity

In other news, Director Anthony Eisen sold 100,000 shares of the firm’s stock in a transaction dated Monday, November 9th. The stock was sold at an average price of $89.00, for a total transaction of $8,900,000.00. Following the sale, the director owned 1,077,672 shares of the company’s stock, valued at $95,912,808. This trade represents a 8.49% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 343,686 shares of company stock valued at $28,384,547 in the last ninety days. 11.37% of the stock is owned by corporate insiders.

Block Trading Up 2.6%

Block stock traded up $2.17 during mid-day trading on Friday, hitting $84.43. 4,455,475 shares of the company’s stock were exchanged, compared to its average volume of 6,179,822. The firm has a market capitalization of $50.73 billion, a P/E ratio of 114.10, a PEG ratio of 0.81 and a beta of 2.58. Block, Inc. has a fifty-two week low of $48.21 and a fifty-two week high of $89.39. The company has a quick ratio of 2.23, a current ratio of 2.23 and a debt-to-equity ratio of 0.25. The company’s 50 day simple moving average is $78.26 and its 200-day simple moving average is $72.00.

Block (NYSE:XYZ) last posted its earnings results on Tuesday, November 3rd. The technology company reported $1.13 earnings per share for the quarter, topping the consensus estimate of $0.68 by $0.45. Block had a return on equity of 9.63% and a net margin of 1.80%. The firm had revenue of $6.72 billion for the quarter. During the same quarter in the prior year, the firm posted $0.54 earnings per share. The business’s revenue was up 9.9% on a year-over-year basis. On average, equities analysts anticipate that Block, Inc. will post 2.86 earnings per share for the current year.

Analyst Upgrades and Downgrades

XYZ has been the subject of several recent research reports. BTIG Research reiterated a “buy” rating and set a $100.00 target price on shares of Block in a research report on Wednesday, October 28th. Wells Fargo & Company increased their price target on Block from $97.00 to $110.00 and gave the company an “overweight” rating in a research note on Thursday, November 5th. Evercore raised their price target on Block from $96.00 to $105.00 and gave the stock an “outperform” rating in a research report on Tuesday, August 11th. Freedom Broker lifted their price objective on Block from $105.00 to $115.00 and gave the stock a “buy” rating in a research note on Friday. Finally, Bank of America upped their price objective on Block from $115.00 to $117.00 and gave the company a “buy” rating in a report on Wednesday, November 4th. Two investment analysts have rated the stock with a Strong Buy rating, thirty-five have assigned a Buy rating, ten have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $100.67.

About Block

Block, Inc. is a financial technology company that provides payment and commerce tools to businesses and financial services for consumers. Its products include Square, a platform offering payment processing, point-of-sale software and related business services, and Cash App, which provides person-to-person payments and other financial features. The company also owns Afterpay, a buy-now, pay-later service, and TIDAL, a music and entertainment platform. Block serves businesses and consumers in the United States and other markets, with product availability varying by country.