Block, Inc. (NYSE:XYZ) Insider Sells $70,967.97 in Stock

Block, Inc. (NYSE:XYZ) insider Owen Britton Jennings sold 1,263 shares of Block stock in a transaction that occurred on Wednesday, April 2nd. The stock was sold at an average price of $56.19, for a total value of $70,967.97. Following the sale, the insider now directly owns 181,904 shares of the company’s stock, valued at approximately $10,221,185.76. The trade was a 0.69 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website.

Block Price Performance

XYZ opened at $50.17 on Monday. The stock’s 50 day simple moving average is $69.53. The company has a market cap of $31.08 billion, a price-to-earnings ratio of 11.03, a price-to-earnings-growth ratio of 0.72 and a beta of 2.77. Block, Inc. has a fifty-two week low of $47.69 and a fifty-two week high of $99.26. The company has a quick ratio of 2.07, a current ratio of 2.07 and a debt-to-equity ratio of 0.26.

Block (NYSE:XYZ) last posted its quarterly earnings data 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 company had revenue of $6.03 billion during the quarter, compared to analyst estimates of $6.23 billion. Block had a net margin of 11.92% and a return on equity of 5.80%. As a group, equities research analysts predict that Block, Inc. will post 2.54 EPS for the current year.

Analysts Set New Price Targets

Several research firms have weighed in on XYZ. Wells Fargo & Company increased their price objective on Block from $85.00 to $95.00 and gave the stock an “overweight” rating in a research report on Thursday, January 16th. UBS Group dropped their price objective on shares of Block from $98.00 to $97.00 and set a “buy” rating for the company in a research note on Friday, February 21st. StockNews.com began coverage on shares of Block in a research report on Saturday, February 15th. They set a “hold” rating on the stock. Morgan Stanley upgraded shares of Block from an “equal weight” rating to an “overweight” rating and lifted their price target for the company from $65.00 to $67.00 in a research report on Thursday. Finally, The Goldman Sachs Group reduced 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, April 2nd. Three research analysts have rated the stock with a hold rating and twenty-seven have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $94.46.

Hedge Funds Weigh In On Block

A number of hedge funds have recently made changes to their positions in XYZ. Versant Capital Management Inc increased its position in Block by 67.7% during the 4th quarter. Versant Capital Management Inc now owns 394 shares of the technology company’s stock valued at $33,000 after purchasing an additional 159 shares during the period. MassMutual Private Wealth & Trust FSB boosted its stake in shares of Block by 48.2% in the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 418 shares of the technology company’s stock valued at $36,000 after purchasing an additional 136 shares during the last quarter. Rosenberg Matthew Hamilton increased its position in shares of Block by 18.3% during the fourth quarter. Rosenberg Matthew Hamilton now owns 982 shares of the technology company’s stock worth $83,000 after buying an additional 152 shares during the period. TD Private Client Wealth LLC raised its stake in Block by 15.8% during the third quarter. TD Private Client Wealth LLC now owns 2,066 shares of the technology company’s stock worth $139,000 after buying an additional 282 shares during the last quarter. Finally, Ulland Investment Advisors LLC lifted its holdings in Block by 92.3% in the fourth quarter. Ulland Investment Advisors LLC now owns 2,135 shares of the technology company’s stock valued at $181,000 after buying an additional 1,025 shares during the period. 70.44% of the stock is currently owned by institutional investors.

About Block

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.