Block (NYSE:XYZ) Insider Sells $78,508.50 in Stock

Key Points

• Block, Inc. insider Owen Britton Jennings sold 1,050 shares for a total of $78,508.50, decreasing his ownership by 0.41% to 253,956 shares.
• The company's stock price reached $77.75, with a market cap of $47.39 billion and a PE ratio of 16.65.
• Analysts have increased target prices for Block's stock, with some ratings upgraded to "outperform" and a consensus target price of $80.64.

Block, Inc. (NYSE:XYZ - Get Free Report) insider Owen Britton Jennings sold 1,050 shares of the business's stock in a transaction that occurred on Thursday, October 2nd. The shares were sold at an average price of $74.77, for a total value of $78,508.50. Following the completion of the transaction, the insider directly owned 253,956 shares of the company's stock, valued at $18,988,290.12. The trade was a 0.41% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website.

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

• On Friday, August 22nd, Owen Britton Jennings sold 8,501 shares of Block stock. The shares were sold at an average price of $73.87, for a total value of $627,968.87.
• 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.

Block Stock Performance

NYSE:XYZ traded up $0.80 during trading hours on Monday, reaching $77.75. The company had a trading volume of 5,318,100 shares, compared to its average volume of 9,390,499. Block, Inc. has a 1-year low of $44.27 and a 1-year high of $99.26. The firm has a market cap of $47.39 billion, a PE ratio of 16.65, a price-to-earnings-growth ratio of 3.11 and a beta of 2.71. The business's 50 day moving average price is $76.11 and its 200-day moving average price is $66.20. The company has a debt-to-equity ratio of 0.16, a current ratio of 1.96 and a quick ratio of 1.96.

Block (NYSE:XYZ - Get Free Report) last announced its earnings results on Thursday, August 7th. The technology company reported $0.62 earnings per share for the quarter, topping the consensus estimate of $0.21 by $0.41. The business had revenue of $6.05 billion during the quarter, compared to the consensus estimate of $6.32 billion. Block had a return on equity of 7.85% and a net margin of 12.32%.Block's revenue was down 1.6% on a year-over-year basis. Research analysts forecast that Block, Inc. will post 2.54 EPS for the current year.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on XYZ. Keefe, Bruyette & Woods upped their target price on Block from $80.00 to $95.00 and gave the stock an "outperform" rating in a research note on Friday, August 8th. Robert W. Baird upped their target price on Block from $76.00 to $84.00 and gave the stock an "outperform" rating in a research note on Monday, July 21st. Wall Street Zen raised Block from a "sell" rating to a "hold" rating in a research note on Saturday, July 5th. Cowen reaffirmed a "buy" rating on shares of Block in a research note on Friday, August 8th. Finally, Truist Financial increased their price objective on Block from $65.00 to $70.00 and gave the company a "sell" rating in a research note on Thursday, August 21st. Twenty-four investment analysts have rated the stock with a Buy rating, ten have given a Hold rating and three have assigned a Sell rating to the stock. According to data from MarketBeat, Block presently has an average rating of "Moderate Buy" and a consensus target price of $80.64.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the company. Vanguard Group Inc. acquired a new position in Block in the 2nd quarter valued at $3,730,489,000. Sands Capital Management LLC purchased a new stake in Block in the 2nd quarter valued at $702,446,000. Geode Capital Management LLC purchased a new stake in Block in the 2nd quarter valued at $634,721,000. Dragoneer Investment Group LLC purchased a new stake in Block in the 2nd quarter valued at $627,233,000. Finally, Ameriprise Financial Inc. purchased a new stake in Block in the 2nd quarter valued at $535,305,000. 70.44% of the stock is owned by institutional investors and hedge funds.

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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