Block (NYSE:XYZ) Insider Chrysty Esperanza Sells 406 Shares

Key Points

• Insider Chrysty Esperanza sold 406 shares of Block at an average price of $74.77, totaling approximately $30,356, decreasing their ownership by 0.32%.
• Block's quarterly earnings report indicated an EPS of $0.62, surpassing estimates of $0.21, but revenue declined by 1.6% year-over-year, totaling $6.05 billion.
• The company's stock has a market capitalization of $47.39 billion and a current price of $77.75, with analysts maintaining a consensus rating of "Moderate Buy" and a target price of approximately $80.64.

Block, Inc. (NYSE:XYZ - Get Free Report) insider Chrysty Esperanza sold 406 shares of the company's stock in a transaction dated Thursday, October 2nd. The stock was sold at an average price of $74.77, for a total transaction of $30,356.62. Following the transaction, the insider owned 126,806 shares of the company's stock, valued at $9,481,284.62. This represents a 0.32% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link.

Chrysty Esperanza also recently made the following trade(s):

• On Thursday, August 21st, Chrysty Esperanza sold 3,609 shares of Block stock. The stock was sold at an average price of $73.20, for a total value of $264,178.80.

Block Price Performance

Shares of XYZ traded up $0.80 during trading hours on Monday, hitting $77.75. 5,318,100 shares of the company were exchanged, compared to its average volume of 9,390,499. The company has a debt-to-equity ratio of 0.16, a current ratio of 1.96 and a quick ratio of 1.96. The company has a market capitalization of $47.39 billion, a PE ratio of 16.65, a PEG ratio of 3.11 and a beta of 2.71. The firm has a fifty day simple moving average of $76.11 and a 200-day simple moving average of $66.20. Block, Inc. has a one year low of $44.27 and a one year high of $99.26.

Block (NYSE:XYZ - Get Free Report) last released its quarterly earnings data on Thursday, August 7th. The technology company reported $0.62 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.21 by $0.41. Block had a return on equity of 7.85% and a net margin of 12.32%.The firm had revenue of $6.05 billion during the quarter, compared to analysts' expectations of $6.32 billion. The business's revenue was down 1.6% on a year-over-year basis. As a group, sell-side analysts predict that Block, Inc. will post 2.54 earnings per share for the current year.

Hedge Funds Weigh In On Block

Hedge funds and other institutional investors have recently modified their holdings of the business. JBGlobal.com LLC purchased a new stake in Block in the third quarter worth $422,000. Insight Wealth Strategies LLC purchased a new stake in shares of Block in the third quarter worth $4,238,000. Venture Visionary Partners LLC bought a new stake in shares of Block during the 3rd quarter valued at about $326,000. Aaron Wealth Advisors LLC purchased a new stake in Block in the third quarter valued at approximately $555,000. Finally, GAMMA Investing LLC bought a new stake in shares of Block during the 3rd quarter worth $316,000. Hedge funds and other institutional investors own 70.44% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on XYZ shares. Weiss Ratings reiterated a "hold (c+)" rating on shares of Block in a report on Saturday, September 27th. BNP Paribas Exane downgraded shares of Block from an "outperform" rating to a "neutral" rating and set a $86.00 price objective for the company. in a research note on Tuesday, September 2nd. Needham & Company LLC reaffirmed a "buy" rating and set a $100.00 price target (up from $80.00) on shares of Block in a research report on Friday, August 8th. Morgan Stanley lifted their target price on Block from $73.00 to $77.00 and gave the stock an "equal weight" rating in a research note on Monday, August 11th. Finally, Robert W. Baird raised their price objective on shares of Block from $76.00 to $84.00 and gave the stock an "outperform" rating in a research report on Monday, July 21st. Twenty-four equities research analysts have rated the stock with a Buy rating, ten have assigned a Hold rating and three have given a Sell rating to the stock. Based on data from MarketBeat, Block currently has a consensus rating of "Moderate Buy" and a consensus target price of $80.64.

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.

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