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 company’s stock in a transaction dated Wednesday, April 2nd. The shares were sold at an average price of $56.19, for a total transaction of $70,967.97. Following the transaction, the insider now owns 181,904 shares in the company, valued at $10,221,185.76. This represents a 0.69 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this link.

Block Stock Down 7.0 %

Shares of XYZ stock opened at $50.17 on Monday. Block, Inc. has a 12-month low of $47.69 and a 12-month high of $99.26. 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 business’s 50 day moving average is $69.53. The stock has a market cap of $31.08 billion, a price-to-earnings ratio of 11.03, a P/E/G ratio of 0.72 and a beta of 2.77.

Block (NYSE:XYZ) last issued its earnings results on Thursday, February 20th. The technology company reported $0.26 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.37 by ($0.11). The firm had revenue of $6.03 billion during the quarter, compared to the consensus estimate of $6.23 billion. Block had a net margin of 11.92% and a return on equity of 5.80%. As a group, equities analysts expect that Block, Inc. will post 2.54 EPS for the current year.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on XYZ shares. Barclays dropped their price target on Block from $112.00 to $97.00 and set an “overweight” rating on the stock in a research note on Monday, February 24th. Oppenheimer upgraded Block from a “market perform” rating to an “outperform” rating and set a $115.00 target price on the stock in a report on Thursday, December 19th. KeyCorp decreased their price target on shares of Block from $115.00 to $85.00 and set an “overweight” rating for the company in a research note on Tuesday, March 18th. Needham & Company LLC reaffirmed a “buy” rating and issued a $90.00 price objective on shares of Block in a research note on Friday, February 21st. Finally, Sanford C. Bernstein set a $100.00 target price on shares of Block in a research report on Saturday, March 8th. Three analysts have rated the stock with a hold rating and twenty-seven have issued a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $94.46.

Institutional Investors Weigh In On Block

Institutional investors have recently added to or reduced their stakes in the business. Captrust Financial Advisors raised its position in shares of Block by 4.4% in the third quarter. Captrust Financial Advisors now owns 23,320 shares of the technology company’s stock valued at $1,565,000 after purchasing an additional 988 shares during the period. Benjamin Edwards Inc. lifted its position in shares of Block by 3,570.3% during the third quarter. Benjamin Edwards Inc. now owns 39,235 shares of the technology company’s stock worth $2,634,000 after acquiring an additional 38,166 shares in the last quarter. Holocene Advisors LP boosted its holdings in shares of Block by 152.9% in the third quarter. Holocene Advisors LP now owns 80,125 shares of the technology company’s stock worth $5,379,000 after acquiring an additional 48,438 shares during the period. HighTower Advisors LLC grew its position in shares of Block by 6.2% in the third quarter. HighTower Advisors LLC now owns 212,282 shares of the technology company’s stock valued at $14,212,000 after purchasing an additional 12,410 shares in the last quarter. Finally, Janus Henderson Group PLC raised its stake in shares of Block by 0.4% during the 3rd quarter. Janus Henderson Group PLC now owns 53,878 shares of the technology company’s stock valued at $3,615,000 after purchasing an additional 200 shares during the period. 70.44% of the stock is owned by hedge funds and other institutional investors.

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.