Block, Inc. (NYSE:XYZ) Insider Chrysty Esperanza Sells 7,500 Shares

Block, Inc. (NYSE:XYZ) insider Chrysty Esperanza sold 7,500 shares of the stock in a transaction that occurred on Monday, May 12th. The stock was sold at an average price of $55.00, for a total transaction of $412,500.00. Following the completion of the transaction, the insider now owns 133,940 shares in the company, valued at $7,366,700. This trade represents a 5.30% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link.

Block Stock Performance

NYSE:XYZ opened at $58.06 on Thursday. The company has a debt-to-equity ratio of 0.26, a quick ratio of 2.07 and a current ratio of 2.07. The company has a market capitalization of $35.97 billion, a P/E ratio of 12.76, a PEG ratio of 0.72 and a beta of 2.83. Block, Inc. has a 52-week low of $44.27 and a 52-week high of $99.26. The stock’s 50-day moving average price is $55.18.

Block (NYSE:XYZ) last released its quarterly earnings data on Thursday, February 20th. The technology company reported $0.26 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.37 by ($0.11). Block had a net margin of 11.92% and a return on equity of 5.80%. The business had revenue of $6.03 billion during the quarter, compared to analyst estimates of $6.23 billion. On average, research analysts predict that Block, Inc. will post 2.54 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Block

A number of hedge funds have recently added to or reduced their stakes in XYZ. Wealth Enhancement Advisory Services LLC grew its position in Block by 0.5% during the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 26,864 shares of the technology company’s stock worth $2,283,000 after acquiring an additional 145 shares during the last quarter. CHICAGO TRUST Co NA acquired a new position in Block during the 4th quarter worth approximately $302,000. Harbour Capital Advisors LLC bought a new position in shares of Block in the fourth quarter valued at approximately $279,000. Claro Advisors LLC bought a new position in shares of Block in the fourth quarter valued at approximately $220,000. Finally, Johnson & White Wealth Management LLC bought a new position in Block during the fourth quarter valued at $221,000. Institutional investors own 70.44% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on XYZ. Benchmark downgraded Block from a “buy” rating to a “hold” rating in a research report on Friday, May 2nd. Morgan Stanley upgraded Block from an “equal weight” rating to an “overweight” rating and boosted their price target for the stock from $65.00 to $67.00 in a research note on Thursday, April 3rd. Royal Bank of Canada lowered their price objective on Block from $86.00 to $63.00 and set an “outperform” rating on the stock in a research report on Friday, May 2nd. Canaccord Genuity Group decreased their target price on Block from $100.00 to $80.00 and set a “buy” rating on the stock in a research report on Friday, May 2nd. Finally, KeyCorp cut their target price on Block from $65.00 to $60.00 and set an “overweight” rating for the company in a research note on Friday, May 2nd. Eleven equities research analysts have rated the stock with a hold rating and twenty have given a buy rating to the stock. According to MarketBeat.com, Block has a consensus rating of “Moderate Buy” and an average price target of $75.54.

About Block

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.