Insider Selling: Block (NYSE:XYZ) Insider Sells 10,424 Shares of Stock

Key Points

• Insider Owen Britton Jennings sold a total of 10,424 shares of Block stock on August 21 at an average price of $73.20, reducing his position by 3.81%.
• Block's stock recently traded up 0.1% to $79.16, with a market capitalization of approximately $48.25 billion.
• Recent analyst ratings for Block are mixed, with price targets ranging from $58.00 to $90.00, reflecting varying sentiments about the company's future performance.

Block, Inc. (NYSE:XYZ - Get Free Report) insider Owen Britton Jennings sold 10,424 shares of the stock in a transaction on Thursday, August 21st. The shares were sold at an average price of $73.20, for a total value of $763,036.80. Following the completion of the transaction, the insider directly owned 263,507 shares in the company, valued at approximately $19,288,712.40. This trade represents a 3.81% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link.

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 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 shares were 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 shares were sold at an average price of $65.00, for a total value of $142,025.00.

Block Trading Up 0.1%

Block stock traded up $0.04 during mid-day trading on Monday, hitting $79.16. 6,547,401 shares of the company's stock were exchanged, compared to its average volume of 8,847,188. The firm has a market capitalization of $48.25 billion, a P/E ratio of 39.56, a PEG ratio of 3.20 and a beta of 2.71. Block, Inc. has a fifty-two week low of $44.27 and a fifty-two week high of $99.26. The company has a quick ratio of 1.96, a current ratio of 1.96 and a debt-to-equity ratio of 0.16. The company's 50 day simple moving average is $72.14 and its 200-day simple moving average is $64.52.

Block (NYSE:XYZ - Get Free Report) last issued its quarterly earnings data on Thursday, August 7th. The technology company reported $0.62 EPS for the quarter, topping the consensus estimate of $0.21 by $0.41. The business had revenue of $6.05 billion for 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%.The company's revenue was down 1.6% compared to the same quarter last year. On average, equities analysts anticipate that Block, Inc. will post 2.54 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several analysts recently commented on the company. Deutsche Bank Aktiengesellschaft set a $82.00 price objective on Block and gave the stock a "buy" rating in a research note on Thursday, July 17th. JPMorgan Chase & Co. lifted their price target on Block from $60.00 to $90.00 and gave the company an "overweight" rating in a research note on Monday, July 21st. Piper Sandler reissued an "underweight" rating and issued a $58.00 price target (up previously from $50.00) on shares of Block in a research note on Friday, August 8th. BMO Capital Markets reissued a "market perform" rating and issued a $58.00 price target (down previously from $80.00) on shares of Block in a research note on Friday, May 2nd. Finally, Compass Point reissued a "sell" rating and issued a $65.00 price target (down previously from $80.00) on shares of Block in a research note on Friday, August 8th. 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 given a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $79.97.

Hedge Funds Weigh In On Block

Several hedge funds have recently modified their holdings of the stock. Nemes Rush Group LLC acquired a new stake in Block in the second quarter valued at $26,000. Traub Capital Management LLC acquired a new stake in Block in the second quarter valued at $26,000. SouthState Corp acquired a new stake in Block in the second quarter valued at $29,000. First Horizon Advisors Inc. acquired a new stake in Block in the second quarter valued at $30,000. Finally, Comprehensive Financial Planning Inc. PA acquired a new stake in Block in the second quarter valued at $31,000. Institutional investors 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.