Insider Selling: Block (NYSE:XYZ) Insider Sells $46,743.36 in Stock

Key Points

• Block insider Owen Britton Jennings sold 584 shares at an average price of $80.04, generating $46,743.36; the transaction was conducted under a Rule 10b5-1 plan and reduced his ownership by 0.13%.
• Jennings also sold 1,317 shares the following Monday for $107,309.16, while Block shares traded near $81.38 and remained close to their 52-week high of $86.75.
• Block recently beat quarterly earnings expectations, reporting $1.02 in EPS versus the $0.48 consensus and $6.62 billion in revenue. Analysts maintain a Moderate Buy consensus with an average price target of $95.23.

Block, Inc. (NYSE:XYZ - Get Free Report) insider Owen Britton Jennings sold 584 shares of the firm's stock in a transaction dated Friday, August 21st. The shares were sold at an average price of $80.04, for a total transaction of $46,743.36. Following the completion of the transaction, the insider directly owned 461,445 shares in the company, valued at $36,934,057.80. This represents a 0.13% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

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

• On Monday, August 24th, Owen Britton Jennings sold 1,317 shares of Block stock. The stock was sold at an average price of $81.48, for a total value of $107,309.16.

Block Price Performance

Shares of NYSE XYZ traded down $0.79 during mid-day trading on Monday, reaching $81.38. The company's stock had a trading volume of 4,068,129 shares, compared to its average volume of 4,955,299. The stock has a 50-day moving average of $78.89 and a two-hundred day moving average of $69.40. The stock has a market capitalization of $48.89 billion, a P/E ratio of 145.31, a P/E/G ratio of 0.92 and a beta of 2.53. The company has a debt-to-equity ratio of 0.26, a quick ratio of 2.21 and a current ratio of 2.21. Block, Inc. has a 1-year low of $48.21 and a 1-year high of $86.75.

Block (NYSE:XYZ - Get Free Report) last announced its quarterly earnings results on Wednesday, August 5th. The technology company reported $1.02 earnings per share for the quarter, beating the consensus estimate of $0.48 by $0.54. Block had a net margin of 1.43% and a return on equity of 8.10%. The firm had revenue of $6.62 billion for the quarter. During the same period in the previous year, the firm posted $0.62 EPS. The company's revenue was up 9.3% compared to the same quarter last year. Block has set its FY 2026 guidance at 4.020-4.020 EPS and its Q3 2026 guidance at 1.020-1.020 EPS. On average, equities research analysts anticipate that Block, Inc. will post 2.69 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research firms have commented on XYZ. Piper Sandler upped their target price on shares of Block from $100.00 to $105.00 and gave the company an "overweight" rating in a research report on Thursday, August 6th. The Goldman Sachs Group raised shares of Block from a "buy" rating to a "buy" rating in a research note on Tuesday, June 30th. Truist Financial upped their price objective on shares of Block from $82.00 to $93.00 and gave the stock a "buy" rating in a report on Friday, July 24th. Morgan Stanley reiterated an "overweight" rating on shares of Block in a report on Wednesday, August 5th. Finally, Zacks Research lowered Block from a "strong-buy" rating to a "hold" rating in a research report on Thursday, July 30th. Three equities research analysts have rated the stock with a Strong Buy rating, twenty-eight have issued a Buy rating and eight have assigned a Hold rating to the company. According to data from MarketBeat.com, Block presently has an average rating of "Moderate Buy" and an average target price of $95.23.

Institutional Investors Weigh In On Block

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Elevation Wealth Partners LLC boosted its position in shares of Block by 301.0% during the 2nd quarter. Elevation Wealth Partners LLC now owns 389 shares of the technology company's stock worth $30,000 after purchasing an additional 292 shares in the last quarter. Rachor Investment Advisory Services LLC purchased a new stake in shares of Block in the fourth quarter valued at about $32,000. Global Assets Advisory LLC acquired a new position in shares of Block during the 1st quarter worth approximately $31,000. Cary Street Partners Investment Advisory LLC lifted its stake in Block by 57.6% in the 4th quarter. Cary Street Partners Investment Advisory LLC now owns 610 shares of the technology company's stock valued at $40,000 after buying an additional 223 shares in the last quarter. Finally, Darwin Wealth Management LLC acquired a new stake in Block during the 2nd quarter valued at $43,000. Institutional investors and hedge funds own 70.44% of the company's stock.

Block Company Profile

Block NYSE: XYZ is a financial technology company that builds products and services to facilitate electronic payments, commerce, and consumer finance. Its principal business lines include a seller-focused ecosystem that provides point-of-sale hardware and software, payment processing, invoicing, payroll and lending services, and a consumer-facing platform that offers peer-to-peer payments, banking-like features, and investing. Block's portfolio also encompasses music streaming and buy-now-pay-later capabilities through businesses acquired to broaden its reach beyond core payments.

The company was founded as Square in 2009 by Jack Dorsey and Jim McKelvey and later rebranded to Block to reflect a diversified set of businesses across payments, consumer finance, and emerging technologies.

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