Block (NYSE:XYZ) Insider Sells $627,968.87 in Stock

Key Points

• Block, Inc. insider Owen Britton Jennings sold 8,501 shares for a total of $627,968.87, reducing his ownership by 3.23% to 255,006 shares valued at approximately $18.8 million.
• Block's recent quarterly earnings report showed an EPS of $0.62, exceeding analysts' expectations of $0.21, although revenue was down 1.6% year-over-year at $6.05 billion.
• Analysts have varying ratings for Block, with a consensus of "Moderate Buy" and an average price target of $79.97, reflecting positive sentiment around the stock's performance.

Block, Inc. (NYSE:XYZ - Get Free Report) insider Owen Britton Jennings sold 8,501 shares of the company's stock in a transaction that occurred on Friday, August 22nd. The shares were sold at an average price of $73.87, for a total value of $627,968.87. Following the completion of the sale, the insider owned 255,006 shares in the company, valued at approximately $18,837,293.22. This represents a 3.23% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink.

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

• On Thursday, August 21st, Owen Britton Jennings sold 10,424 shares of Block stock. The shares were sold at an average price of $73.20, for a total value of $763,036.80.
• On Monday, July 21st, Owen Britton Jennings sold 3,993 shares of Block stock. The shares were sold at an average price of $78.60, for a total value of $313,849.80.
• On Wednesday, July 2nd, Owen Britton Jennings sold 1,050 shares of Block stock. The stock was sold at an average price of $69.26, for a total value of $72,723.00.
• On Friday, June 6th, Owen Britton Jennings sold 2,185 shares of Block stock. The stock was sold at an average price of $65.00, for a total value of $142,025.00.

Block Price Performance

NYSE XYZ traded up $0.04 during trading hours on Monday, reaching $79.16. 6,547,401 shares of the company's stock were exchanged, compared to its average volume of 8,847,188. The stock has a market cap of $48.25 billion, a PE ratio of 39.56, a price-to-earnings-growth ratio of 3.20 and a beta of 2.71. Block, Inc. has a one year low of $44.27 and a one year high of $99.26. The firm has a fifty day moving average of $72.14 and a 200-day moving average of $64.52. The company has a current ratio of 1.96, a quick ratio of 1.96 and a debt-to-equity ratio of 0.16.

Block (NYSE:XYZ - Get Free Report) last released its quarterly earnings results on Thursday, August 7th. The technology company reported $0.62 EPS for the quarter, topping 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 business had revenue of $6.05 billion for the quarter, compared to analyst estimates of $6.32 billion. Block's revenue for the quarter was down 1.6% on a year-over-year basis. On average, equities research analysts predict that Block, Inc. will post 2.54 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several research analysts have issued reports on the company. BNP Paribas raised Block from a "hold" rating to a "strong-buy" rating in a report on Tuesday, May 27th. Robert W. Baird upped their price objective on Block from $76.00 to $84.00 and gave the stock an "outperform" rating in a report on Monday, July 21st. Jefferies Financial Group reduced their price objective on Block from $95.00 to $90.00 and set a "buy" rating on the stock in a report on Friday, August 15th. Evercore ISI upped their price objective on Block from $75.00 to $85.00 and gave the stock an "outperform" rating in a report on Thursday, July 17th. Finally, Monness Crespi & Hardt increased their price target on Block from $75.00 to $95.00 and gave the company a "buy" rating in a research note on Monday, August 4th. One equities research analyst has rated the stock with a Strong Buy rating, twenty-five have assigned a Buy rating, eight have issued a Hold rating and three have issued a Sell rating to the company. Based on data from MarketBeat.com, Block presently has a consensus rating of "Moderate Buy" and an average price target of $79.97.

Institutional Trading of Block

Several hedge funds have recently added to or reduced their stakes in XYZ. Traub Capital Management LLC acquired a new stake in Block during the 2nd quarter worth $26,000. Nemes Rush Group LLC acquired a new stake in Block during the 2nd quarter worth $26,000. SouthState Corp acquired a new stake in Block during the 2nd quarter worth $29,000. First Horizon Advisors Inc. acquired a new stake in Block during the 2nd quarter worth $30,000. Finally, Comprehensive Financial Planning Inc. PA acquired a new stake in Block during the 2nd quarter worth $31,000. 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.

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