35,856 Shares in Block, Inc. $XYZ Acquired by Northwestern Mutual Wealth Management Co.

Northwestern Mutual Wealth Management Co. acquired 35,856 shares of Block, Inc. in Q2, valued at $2.44 million. Other major institutional investors also increased their stakes in Block. The company's stock opened at $62.18, with a market cap of $37.78 billion. Recent insider trading saw significant stock sales by company insiders. Analysts have mixed ratings on Block, with some setting high price targets. Block's recent earnings exceeded expectations, with a net margin of 12.99% and revenue growth of 2.3% year-over-year.

Northwestern Mutual Wealth Management Co. purchased a new position in shares of Block, Inc. (NYSE:XYZ - Free Report) in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 35,856 shares of the technology company's stock, valued at approximately $2,436,000.

Hims, Block, and NRG Just Launched Huge Stock Buybacks

Several other institutional investors and hedge funds also recently modified their holdings of the stock. Vanguard Group Inc. purchased a new stake in Block during the 2nd quarter worth approximately $3,730,489,000. Geode Capital Management LLC bought a new stake in Block in the second quarter valued at about $634,721,000. ARK Investment Management LLC acquired a new stake in Block during the second quarter valued at approximately $210,016,000. Sumitomo Mitsui Trust Group Inc. bought a new position in Block during the 2nd quarter worth approximately $204,223,000. Finally, Legal & General Group Plc acquired a new position in shares of Block in the 2nd quarter worth approximately $189,211,000. Hedge funds and other institutional investors own 70.44% of the company's stock.

Block Stock Up 1.8%

Shares of Block stock opened at $62.18 on Friday. Block, Inc. has a 1 year low of $44.27 and a 1 year high of $99.26. The company has a current ratio of 2.18, a quick ratio of 2.18 and a debt-to-equity ratio of 0.25. The company has a market cap of $37.78 billion, a P/E ratio of 12.54, a P/E/G ratio of 2.43 and a beta of 2.65. The stock has a 50-day moving average price of $70.88 and a 200 day moving average price of $70.88.

Block Levels Up: What S&P 500 Inclusion Means for Investors

Block (NYSE:XYZ - Get Free Report) last issued its quarterly earnings data on Thursday, November 6th. The technology company reported $0.54 earnings per share for the quarter, beating the consensus estimate of $0.25 by $0.29. The firm had revenue of $6.11 billion for the quarter. Block had a net margin of 12.99% and a return on equity of 5.54%. Block's revenue was up 2.3% compared to the same quarter last year. During the same period in the previous year, the business posted $0.53 EPS. As a group, analysts expect that Block, Inc. will post 2.54 EPS for the current fiscal year.

Insider Activity at Block

In other news, insider Owen Britton Jennings sold 10,417 shares of Block stock in a transaction dated Friday, November 21st. The stock was sold at an average price of $61.40, for a total value of $639,603.80. Following the transaction, the insider directly owned 243,540 shares in the company, valued at approximately $14,953,356. The trade was a 4.10% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Chrysty Esperanza sold 3,608 shares of the company's stock in a transaction that occurred on Friday, November 21st. The stock was sold at an average price of $61.40, for a total value of $221,531.20. Following the transaction, the insider owned 123,198 shares of the company's stock, valued at approximately $7,564,357.20. This trade represents a 2.85% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 99,198 shares of company stock worth $6,968,155 in the last 90 days. Insiders own 10.85% of the company's stock.

Analysts Set New Price Targets

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Several equities research analysts recently issued reports on XYZ shares. Royal Bank Of Canada reissued an "outperform" rating and set a $90.00 price target on shares of Block in a research report on Thursday, November 20th. Weiss Ratings reiterated a "hold (c+)" rating on shares of Block in a research note on Wednesday, October 8th. Mizuho raised their price target on shares of Block from $88.00 to $100.00 and gave the stock an "outperform" rating in a research report on Thursday, November 20th. BNP Paribas Exane downgraded shares of Block from an "outperform" rating to a "neutral" rating and set a $86.00 price objective for the company. in a research report on Tuesday, September 2nd. Finally, Oppenheimer reiterated an "outperform" rating and set a $85.00 price objective on shares of Block in a research note on Friday, November 7th. Three analysts have rated the stock with a Strong Buy rating, twenty-one have issued a Buy rating, twelve have given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $83.42.

View Our Latest Stock Analysis on Block

Block Profile

(Free Report)

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.

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