Block (NYSE:XYZ) Insider Sells $78,508.50 in Stock

Block, Inc. (NYSE:XYZ) insider Owen Britton Jennings sold 1,050 shares of Block stock in a transaction dated Thursday, October 2nd. The stock was sold at an average price of $74.77, for a total value of $78,508.50. Following the sale, the insider directly owned 253,956 shares in the company, valued at approximately $18,988,290.12. This trade represents a 0.41% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

Owen Britton Jennings also recently made the following trade(s):

• On Friday, August 22nd, Owen Britton Jennings sold 8,501 shares of Block stock. The stock was sold at an average price of $73.87, for a total value of $627,968.87.
• On Thursday, August 21st, Owen Britton Jennings sold 10,424 shares of Block stock. The stock was sold at an average price of $73.20, for a total value of $763,036.80.
• On Monday, July 21st, Owen Britton Jennings sold 3,993 shares of Block stock. The shares were sold at an average price of $78.60, for a total value of $313,849.80.

Block Stock Up 1.0%

Shares of XYZ stock opened at $77.75 on Tuesday. The stock has a market cap of $47.39 billion, a P/E ratio of 16.65, a price-to-earnings-growth ratio of 3.11 and a beta of 2.71. Block, Inc. has a one year low of $44.27 and a one year high of $99.26. The stock has a fifty day moving average price of $76.05 and a 200 day moving average price of $66.31. The company has a debt-to-equity ratio of 0.16, a current ratio of 1.96 and a quick ratio of 1.96.

Block (NYSE:XYZ) last posted 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. Block had a net margin of 12.32% and a return on equity of 7.85%. The firm had revenue of $6.05 billion for the quarter, compared to the consensus estimate of $6.32 billion. The business’s quarterly revenue was down 1.6% compared to the same quarter last year. Analysts predict that Block, Inc. will post 2.54 earnings per share for the current year.

Institutional Trading of Block

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Nemes Rush Group LLC bought a new position in shares of Block in the second quarter valued at about $26,000. Traub Capital Management LLC acquired a new stake in Block in the 2nd quarter valued at about $26,000. SouthState Corp bought a new position in shares of Block in the second quarter worth about $29,000. First Horizon Advisors Inc. acquired a new position in shares of Block during the second quarter worth approximately $30,000. Finally, Comprehensive Financial Planning Inc. PA bought a new stake in shares of Block during the second quarter valued at approximately $31,000. 70.44% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research firms recently issued reports on XYZ. Deutsche Bank Aktiengesellschaft set a $82.00 price target on shares of Block and gave the stock a “buy” rating in a research report on Thursday, July 17th. Monness Crespi & Hardt raised their target price on Block from $75.00 to $95.00 and gave the stock a “buy” rating in a research report on Monday, August 4th. JPMorgan Chase & Co. upped their price target on Block from $60.00 to $90.00 and gave the company an “overweight” rating in a research report on Monday, July 21st. Bank of America lifted their price objective on Block from $88.00 to $94.00 and gave the company a “buy” rating in a report on Friday, August 8th. Finally, Evercore ISI upped their target price on shares of Block from $75.00 to $85.00 and gave the stock an “outperform” rating in a report on Thursday, July 17th. Twenty-four equities research analysts have rated the stock with a Buy rating, ten have given a Hold rating and three have assigned a Sell rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $80.64.

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.