Block, Inc. (NYSE:XYZ – Get Free Report) Director Anthony Eisen sold 6,000 shares of the stock in a transaction dated Friday, October 2nd. The shares were sold at an average price of $75.61, for a total transaction of $453,660.00. Following the completion of the sale, the director owned 1,320,672 shares of the company’s stock, valued at $99,856,009.92. This trade represents a 0.45% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.
Anthony Mathew Eisen also recently made the following trade(s):
- On Monday, October 5th, Anthony Eisen sold 6,000 shares of Block stock. The stock was sold at an average price of $74.24, for a total transaction of $445,440.00.
- On Wednesday, September 30th, Anthony Eisen sold 6,000 shares of Block stock. The shares were sold at an average price of $74.33, for a total transaction of $445,980.00.
- On Monday, September 28th, Anthony Eisen sold 6,000 shares of Block stock. The shares were sold at an average price of $75.20, for a total transaction of $451,200.00.
- On Friday, September 25th, Anthony Eisen sold 6,000 shares of Block stock. The stock was sold at an average price of $76.90, for a total transaction of $461,400.00.
- On Wednesday, September 23rd, Anthony Eisen sold 6,000 shares of Block stock. The stock was sold at an average price of $76.67, for a total value of $460,020.00.
- On Monday, September 21st, Anthony Eisen sold 6,000 shares of Block stock. The shares were sold at an average price of $77.54, for a total value of $465,240.00.
- On Friday, September 18th, Anthony Eisen sold 6,000 shares of Block stock. The shares were sold at an average price of $76.55, for a total value of $459,300.00.
- On Wednesday, September 16th, Anthony Eisen sold 6,000 shares of Block stock. The stock was sold at an average price of $78.36, for a total value of $470,160.00.
- On Monday, September 14th, Anthony Eisen sold 6,000 shares of Block stock. The stock was sold at an average price of $78.96, for a total value of $473,760.00.
- On Thursday, September 10th, Anthony Eisen sold 6,000 shares of Block stock. The shares were sold at an average price of $78.39, for a total value of $470,340.00.
Block Trading Up 0.5%
Shares of XYZ traded up $0.35 during midday trading on Tuesday, reaching $76.58. The company had a trading volume of 2,878,724 shares, compared to its average volume of 6,243,490. Block, Inc. has a 1-year low of $48.21 and a 1-year high of $86.92. The stock has a market cap of $46.01 billion, a PE ratio of 136.75, a price-to-earnings-growth ratio of 0.78 and a beta of 2.55. The firm has a 50 day simple moving average of $79.69 and a 200-day simple moving average of $73.86. The company has a quick ratio of 2.21, a current ratio of 2.21 and a debt-to-equity ratio of 0.26.
Analysts Set New Price Targets
Several equities analysts have weighed in on XYZ shares. Benchmark upgraded shares of Block to a “strong-buy” rating in a report on Thursday, September 10th. Robert W. Baird raised their price target on shares of Block from $105.00 to $106.00 and gave the stock an “outperform” rating in a report on Friday. Rosenblatt Securities set a $100.00 price target on shares of Block in a research report on Tuesday, June 30th. Wolfe Research lifted their price target on shares of Block from $100.00 to $115.00 and gave the company an “outperform” rating in a research report on Tuesday, August 25th. Finally, Craig Hallum started coverage on Block in a report on Tuesday, June 30th. They issued a “buy” rating on the stock. Four equities research analysts have rated the stock with a Strong Buy rating, twenty-nine have given a Buy rating and nine have given a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $95.45.
Get Our Latest Analysis on Block
Institutional Inflows and Outflows
A number of large investors have recently bought and sold shares of XYZ. BlackRock Inc. purchased a new stake in shares of Block in the 2nd quarter valued at approximately $621,703,000. Capital World Investors boosted its position in shares of Block by 41.8% during the 4th quarter. Capital World Investors now owns 16,023,441 shares of the technology company’s stock worth $1,042,966,000 after purchasing an additional 4,727,217 shares during the period. Arrowstreet Capital Limited Partnership boosted its position in shares of Block by 528.2% during the 1st quarter. Arrowstreet Capital Limited Partnership now owns 3,309,296 shares of the technology company’s stock worth $199,153,000 after purchasing an additional 2,782,523 shares during the period. J. Stern & Co. LLP increased its holdings in Block by 2,040.0% in the 4th quarter. J. Stern & Co. LLP now owns 2,299,565 shares of the technology company’s stock valued at $149,679,000 after purchasing an additional 2,192,110 shares during the last quarter. Finally, Contour Asset Management LLC increased its holdings in Block by 30.4% in the 4th quarter. Contour Asset Management LLC now owns 4,666,891 shares of the technology company’s stock valued at $303,768,000 after purchasing an additional 1,088,299 shares during the last quarter. Institutional investors and hedge funds own 70.44% of the company’s stock.
About Block
Block, Inc (NYSE:XYZ), formerly known as Square, is a financial technology company that develops tools for businesses, consumers and creators. Founded in 2009 by Jack Dorsey and Jim McKelvey, the company changed its corporate name to Block in 2021 to reflect the expansion of its operations beyond its original seller-payments business.
Block’s Square ecosystem provides payment processing, point-of-sale hardware and software, business banking, invoicing, payroll, inventory management and other services for merchants.
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