Owen Britton Jennings Sells 10,417 Shares of Block (NYSE:XYZ) Stock

Block, Inc. (NYSE:XYZ) insider Owen Britton Jennings sold 10,417 shares of the business’s stock in a transaction on Friday, November 21st. The shares were sold at an average price of $61.40, for a total value of $639,603.80. Following the completion of the sale, the insider directly owned 243,540 shares in the company, valued at approximately $14,953,356. This represents a 4.10% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link.

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

• On Thursday, October 2nd, Owen Britton Jennings sold 1,050 shares of Block stock. The stock was sold at an average price of $74.77, for a total value of $78,508.50.

Block Stock Up 2.2%

Shares of NYSE:XYZ opened at $65.11 on Thursday. Block, Inc. has a 52 week low of $44.27 and a 52 week high of $99.26. The company has a debt-to-equity ratio of 0.25, a quick ratio of 2.18 and a current ratio of 2.18. The company’s fifty day moving average is $72.46 and its 200-day moving average is $70.72. The company has a market capitalization of $39.57 billion, a PE ratio of 13.13, a P/E/G ratio of 3.57 and a beta of 2.73.

Block (NYSE:XYZ) last announced its earnings results on Thursday, November 6th. The technology company reported $0.54 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.25 by $0.29. Block had a net margin of 12.99% and a return on equity of 5.54%. The business had revenue of $6.11 billion during the quarter. During the same quarter last year, the business earned $0.53 EPS. The company’s revenue for the quarter was up 2.3% compared to the same quarter last year. Equities research analysts predict that Block, Inc. will post 2.54 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on the stock. Zacks Research cut shares of Block from a “strong-buy” rating to a “hold” rating in a research note on Monday, November 10th. Bank of America lifted their price objective on Block from $86.00 to $88.00 and gave the company a “buy” rating in a research report on Friday, November 21st. Morgan Stanley boosted their price objective on Block from $71.00 to $72.00 and gave the stock an “equal weight” rating in a research note on Friday, November 21st. Stephens restated an “overweight” rating and issued a $95.00 target price on shares of Block in a research note on Thursday, November 20th. Finally, Weiss Ratings reiterated a “hold (c+)” rating on shares of Block in a research report on Wednesday, October 8th. Three research 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 issued a Sell rating to the company’s stock. According to data from MarketBeat.com, Block presently has a consensus rating of “Moderate Buy” and an average target price of $83.42.

Institutional Trading of Block

Institutional investors have recently bought and sold shares of the business. Cromwell Holdings LLC acquired a new position in shares of Block in the 3rd quarter valued at $27,000. City Holding Co. bought a new stake in Block in the third quarter valued at about $27,000. Nemes Rush Group LLC acquired a new position in Block in the second quarter valued at about $26,000. Cary Street Partners Investment Advisory LLC bought a new position in Block during the third quarter worth about $28,000. Finally, Traub Capital Management LLC acquired a new position in shares of Block during the 2nd quarter worth about $26,000. Institutional investors and hedge funds own 70.44% of the company’s stock.

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.