Insider Selling: Block, Inc. (NYSE:XYZ) Insider Sells 1,263 Shares of Stock

Block, Inc. (NYSE:XYZ) insider Owen Britton Jennings sold 1,263 shares of the stock in a transaction on Wednesday, April 2nd. The stock was sold at an average price of $56.19, for a total transaction of $70,967.97. Following the completion of the sale, the insider now owns 181,904 shares in the company, valued at $10,221,185.76. The trade was a 0.69 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link.

Block Stock Performance

Shares of NYSE:XYZ traded down $3.80 during midday trading on Friday, hitting $50.17. The company’s stock had a trading volume of 15,186,161 shares, compared to its average volume of 8,724,690. The stock has a market cap of $31.08 billion, a P/E ratio of 11.03, a P/E/G ratio of 0.72 and a beta of 2.77. Block, Inc. has a 12-month low of $47.69 and a 12-month high of $99.26. The business’s 50 day moving average is $69.53. The company has a debt-to-equity ratio of 0.26, a quick ratio of 2.07 and a current ratio of 2.07.

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

Hedge Funds Weigh In On Block

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Empirical Financial Services LLC d.b.a. Empirical Wealth Management raised its holdings in shares of Block by 183.8% during the 4th quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management now owns 9,154 shares of the technology company’s stock worth $778,000 after acquiring an additional 5,929 shares during the period. Guerra Pan Advisors LLC acquired a new stake in Block during the fourth quarter worth about $211,000. Moody Lynn & Lieberson LLC purchased a new position in Block during the fourth quarter worth about $3,775,000. Toth Financial Advisory Corp boosted its holdings in Block by 18,150.0% in the 4th quarter. Toth Financial Advisory Corp now owns 7,300 shares of the technology company’s stock valued at $620,000 after purchasing an additional 7,260 shares during the last quarter. Finally, Nepsis Inc. acquired a new position in Block in the 4th quarter valued at about $9,769,000. Institutional investors and hedge funds own 70.44% of the company’s stock.

Analysts Set New Price Targets

XYZ has been the topic of several analyst reports. The Goldman Sachs Group cut their price target on Block from $94.00 to $74.00 and set a “buy” rating on the stock in a research report on Wednesday. Morgan Stanley raised Block from an “equal weight” rating to an “overweight” rating and raised their target price for the stock from $65.00 to $67.00 in a report on Thursday. Canaccord Genuity Group decreased their price target on Block from $120.00 to $100.00 and set a “buy” rating for the company in a report on Friday, February 21st. BMO Capital Markets raised shares of Block from a “market perform” rating to an “outperform” rating and dropped their price objective for the stock from $100.00 to $89.00 in a research note on Monday, February 24th. Finally, KeyCorp cut their target price on shares of Block from $115.00 to $85.00 and set an “overweight” rating for the company in a report on Tuesday, March 18th. Three research analysts have rated the stock with a hold rating and twenty-seven have assigned a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $94.46.

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.