Insider Selling: Block (NYSE:XYZ) Director Sells $3,062,500.00 in Stock

Key Points

• Block director Anthony Eisen sold 35,000 shares for $3.06 million at an average price of $87.50, reducing his stake by 2.89% to 1,177,672 shares. The sale was made under a pre-arranged Rule 10b5-1 trading plan.
• Block reported quarterly earnings of $1.13 per share, beating the $0.68 consensus estimate; revenue rose 9.9% year over year to $6.72 billion.
• Analyst sentiment is broadly positive, with MarketBeat reporting a “Moderate Buy” consensus and an average price target of $98.24.

Block, Inc. (NYSE:XYZ - Get Free Report) Director Anthony Eisen sold 35,000 shares of the company's stock in a transaction that occurred on Wednesday, November 4th. The shares were sold at an average price of $87.50, for a total value of $3,062,500.00. Following the completion of the transaction, the director directly owned 1,177,672 shares in the company, valued at $103,046,300. This trade represents a 2.89% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Anthony Mathew Eisen also recently made the following trade(s):

• On Wednesday, October 28th, Anthony Eisen sold 6,000 shares of Block stock. The shares were sold at an average price of $74.44, for a total value of $446,640.00.
• On Monday, October 26th, Anthony Eisen sold 6,000 shares of Block stock. The stock was sold at an average price of $75.76, for a total value of $454,560.00.
• On Friday, October 23rd, Anthony Eisen sold 6,000 shares of Block stock. The stock was sold at an average price of $77.84, for a total value of $467,040.00.
• On Wednesday, October 21st, Anthony Eisen sold 6,000 shares of Block stock. The shares were sold at an average price of $79.07, for a total value of $474,420.00.
• On Monday, October 19th, Anthony Eisen sold 6,000 shares of Block stock. The shares were sold at an average price of $78.58, for a total value of $471,480.00.
• On Friday, October 16th, Anthony Eisen sold 6,000 shares of Block stock. The shares were sold at an average price of $80.43, for a total value of $482,580.00.
• On Wednesday, October 14th, Anthony Eisen sold 6,000 shares of Block stock. The stock was sold at an average price of $75.70, for a total value of $454,200.00.
• On Monday, October 12th, Anthony Eisen sold 6,000 shares of Block stock. The stock was sold at an average price of $76.97, for a total value of $461,820.00.
• On Friday, October 9th, Anthony Eisen sold 6,000 shares of Block stock. The stock was sold at an average price of $75.75, for a total value of $454,500.00.
• On Wednesday, October 7th, Anthony Eisen sold 6,000 shares of Block stock. The shares were sold at an average price of $75.35, for a total transaction of $452,100.00.

Block Stock Performance

Shares of NYSE XYZ traded up $1.54 during trading on Friday, reaching $85.58. 7,756,635 shares of the company traded hands, compared to its average volume of 6,217,359. The firm has a 50 day simple moving average of $77.90 and a 200-day simple moving average of $71.39. The company has a quick ratio of 2.21, a current ratio of 2.23 and a debt-to-equity ratio of 0.25. The stock has a market capitalization of $51.42 billion, a PE ratio of 115.65, a P/E/G ratio of 0.92 and a beta of 2.58. Block, Inc. has a 52-week low of $48.21 and a 52-week high of $88.51.

Block (NYSE:XYZ - Get Free Report) last released its quarterly earnings data on Tuesday, November 3rd. The technology company reported $1.13 earnings per share for the quarter, beating the consensus estimate of $0.68 by $0.45. The firm had revenue of $6.72 billion during the quarter. Block had a net margin of 1.80% and a return on equity of 9.63%. The firm's revenue for the quarter was up 9.9% on a year-over-year basis. During the same period in the previous year, the firm earned $0.54 earnings per share. Equities research analysts anticipate that Block, Inc. will post 2.75 earnings per share for the current year.

More Block News

Here are the key news stories impacting Block this week:

• Positive Sentiment: Several firms raised price targets, reinforcing expectations for further gains. UBS lifted its target to $105, Raymond James to $100 while maintaining an “outperform” rating, and BMO to $102 with a “market perform” rating. Wells Fargo raised its target to $110 and Barclays to $105, both with “overweight” ratings; Argus raised its target to $105 and maintained “buy.” UBS rating Raymond James rating BMO target update Wells Fargo rating Barclays rating Argus rating
• Positive Sentiment: Block reported better-than-expected earnings, with quarterly EPS of $1.13 versus the $0.68 consensus and revenue growth of 9.9% year over year. Shares subsequently reached a 52-week high, and traders bought a large volume of call options—signals of favorable investor expectations. Earnings and 52-week high Call options activity
• Neutral Sentiment: Rothschild & Co Redburn raised its target from $75 to $85 but kept a “neutral” rating, putting its estimate close to the recent share price. Redburn target update
• Negative Sentiment: Block reportedly made another round of job cuts this year, affecting employees in its Cash App businesses. The reductions may raise concerns about execution or operating pressures despite the recent earnings beat. Report on Block job cuts

Analyst Upgrades and Downgrades

XYZ has been the subject of a number of research reports. KeyCorp upped their price objective on Block from $105.00 to $108.00 and gave the company an "overweight" rating in a research report on Thursday, August 6th. Barclays raised their target price on Block from $100.00 to $105.00 and gave the stock an "overweight" rating in a research report on Thursday. The Goldman Sachs Group cut their price target on Block from $107.00 to $102.00 and set a "buy" rating for the company in a research note on Tuesday, October 13th. Citizens Jmp assumed coverage on shares of Block in a research report on Wednesday. They set a "hold" rating for the company. Finally, Rothschild & Co Redburn increased their price objective on shares of Block from $75.00 to $85.00 and gave the stock a "neutral" rating in a research note on Tuesday. Two investment analysts have rated the stock with a Strong Buy rating, thirty-four have issued a Buy rating, ten have issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $98.24.

Institutional Trading of Block

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Allworth Financial LP increased its position in Block by 14.4% during the third quarter. Allworth Financial LP now owns 7,585 shares of the technology company's stock valued at $576,000 after acquiring an additional 955 shares during the last quarter. Russell Investments Group Ltd. lifted its holdings in shares of Block by 4.7% in the 3rd quarter. Russell Investments Group Ltd. now owns 782,252 shares of the technology company's stock worth $57,531,000 after acquiring an additional 35,252 shares during the last quarter. Fifth Third Bancorp lifted its holdings in shares of Block by 0.8% in the 3rd quarter. Fifth Third Bancorp now owns 68,798 shares of the technology company's stock worth $5,059,000 after acquiring an additional 540 shares during the last quarter. Maryland State Retirement & Pension System boosted its stake in shares of Block by 11.2% during the 3rd quarter. Maryland State Retirement & Pension System now owns 31,914 shares of the technology company's stock worth $2,347,000 after purchasing an additional 3,226 shares during the period. Finally, Jacobi Capital Management LLC purchased a new stake in Block in the 3rd quarter worth about $126,000. Hedge funds and other institutional investors own 70.44% of the company's stock.

Block Company Profile

Block, Inc is a financial technology company that provides payments, commerce, and financial services through an ecosystem of business and consumer products. Formerly known as Square, the company was co-founded by Jack Dorsey and Jim McKelvey and changed its corporate name to Block in 2021.

Its Square ecosystem serves businesses with point-of-sale hardware, payment processing, invoicing, payroll, inventory management, customer engagement, online commerce, and other software tools. Block also offers lending and other financial services to eligible business customers through Square-related products.

For consumers, Block operates Cash App, a mobile financial services platform that supports services such as peer-to-peer payments, money transfers, a Cash App Card, direct deposit, investing, and bitcoin transactions, subject to product and geographic availability.

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