Insider Selling: Block (NYSE:XYZ) Insider Sells $435,633.00 in Stock

Block, Inc. (NYSE:XYZ) insider Arnaud Weber sold 7,095 shares of the firm’s stock in a transaction dated Friday, November 21st. The shares were sold at an average price of $61.40, for a total transaction of $435,633.00. Following the transaction, the insider owned 259,136 shares of the company’s stock, valued at $15,910,950.40. This trade represents a 2.66% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website.

Block Stock Up 2.2%

XYZ stock opened at $65.11 on Friday. The company has a debt-to-equity ratio of 0.25, a current ratio of 2.18 and a quick ratio of 2.18. The company’s 50 day simple moving average is $72.21 and its 200-day simple moving average is $70.68. Block, Inc. has a 12 month low of $44.27 and a 12 month high of $99.26. The firm has a market capitalization of $39.57 billion, a PE ratio of 13.13, a P/E/G ratio of 3.64 and a beta of 2.73.

Block (NYSE:XYZ) last announced its earnings results on Thursday, November 6th. The technology company reported $0.54 EPS for the quarter, beating analysts’ consensus estimates of $0.25 by $0.29. The firm had revenue of $6.11 billion for the quarter. Block had a return on equity of 5.54% and a net margin of 12.99%.Block’s quarterly revenue was up 2.3% compared to the same quarter last year. During the same quarter last year, the company posted $0.53 EPS. Equities analysts expect 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 bought and sold shares of the stock. Vanguard Group Inc. boosted its holdings in shares of Block by 23.1% in the 3rd quarter. Vanguard Group Inc. now owns 67,626,485 shares of the technology company’s stock valued at $4,887,366,000 after purchasing an additional 12,709,824 shares during the last quarter. Sands Capital Management LLC raised its position in shares of Block by 12.2% in the 3rd quarter. Sands Capital Management LLC now owns 11,603,057 shares of the technology company’s stock worth $838,553,000 after buying an additional 1,262,317 shares during the period. Capital World Investors raised its position in shares of Block by 192.7% in the 3rd quarter. Capital World Investors now owns 11,296,224 shares of the technology company’s stock worth $816,378,000 after buying an additional 7,436,380 shares during the period. Geode Capital Management LLC acquired a new position in Block in the second quarter valued at $634,721,000. Finally, Dragoneer Investment Group LLC purchased a new stake in Block during the second quarter valued at about $627,233,000. Institutional investors and hedge funds own 70.44% of the company’s stock.

Analysts Set New Price Targets

XYZ has been the subject of a number of recent research reports. Royal Bank Of Canada reiterated an “outperform” rating and set a $90.00 price objective on shares of Block in a research report on Thursday, November 20th. Bank of America lifted their price target on shares of Block from $86.00 to $88.00 and gave the stock a “buy” rating in a report on Friday, November 21st. Weiss Ratings reissued a “hold (c+)” rating on shares of Block in a research note on Wednesday, October 8th. Needham & Company LLC reaffirmed a “buy” rating and issued a $80.00 target price on shares of Block in a research note on Monday. Finally, Zacks Research downgraded Block from a “strong-buy” rating to a “hold” rating in a report on Monday, November 10th. Three analysts have rated the stock with a Strong Buy rating, twenty-one have given a Buy rating, twelve have given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, Block currently has a consensus rating of “Moderate Buy” and an average price target of $83.42.

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.