Insider Selling: Block, Inc. (NYSE:XYZ) Insider Sells 1,263 Shares of Stock

Block, Inc. (NYSE:XYZ - Get Free Report) insider Owen Britton Jennings sold 1,263 shares of the business's stock in a transaction dated Wednesday, April 2nd. The stock was sold at an average price of $56.19, for a total value of $70,967.97. Following the sale, the insider now owns 181,904 shares in the company, valued at $10,221,185.76. The trade was a 0.69 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink.

Block Stock Performance

Shares of NYSE XYZ traded up $0.04 during mid-day trading on Wednesday, reaching $49.12. The company's stock had a trading volume of 3,462,015 shares, compared to its average volume of 8,724,522. Block, Inc. has a 1-year low of $46.42 and a 1-year high of $99.26. The firm has a market cap of $30.43 billion, a PE ratio of 10.80, a P/E/G ratio of 0.72 and a beta of 2.77. The company has a quick ratio of 2.07, a current ratio of 2.07 and a debt-to-equity ratio of 0.26. The business has a 50-day simple moving average of $67.22.

Block (NYSE:XYZ - Get Free Report) last issued its earnings results on Thursday, February 20th. The technology company reported $0.26 earnings per share for the quarter, missing the consensus estimate of $0.37 by ($0.11). Block had a return on equity of 5.80% and a net margin of 11.92%. The company had revenue of $6.03 billion for the quarter, compared to analyst estimates of $6.23 billion. Analysts predict that Block, Inc. will post 2.54 EPS for the current fiscal year.

Institutional Trading of Block

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Versant Capital Management Inc grew its position in Block by 67.7% in the fourth quarter. Versant Capital Management Inc now owns 394 shares of the technology company's stock worth $33,000 after acquiring an additional 159 shares during the period. MassMutual Private Wealth & Trust FSB grew its holdings in shares of Block by 48.2% during the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 418 shares of the technology company's stock worth $36,000 after purchasing an additional 136 shares during the period. Rosenberg Matthew Hamilton grew its holdings in shares of Block by 18.3% during the 4th quarter. Rosenberg Matthew Hamilton now owns 982 shares of the technology company's stock worth $83,000 after purchasing an additional 152 shares during the period. TD Private Client Wealth LLC raised its holdings in Block by 15.8% in the 3rd quarter. TD Private Client Wealth LLC now owns 2,066 shares of the technology company's stock valued at $139,000 after buying an additional 282 shares during the period. Finally, Ulland Investment Advisors LLC raised its holdings in Block by 92.3% in the 4th quarter. Ulland Investment Advisors LLC now owns 2,135 shares of the technology company's stock valued at $181,000 after buying an additional 1,025 shares during the period. 70.44% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

XYZ has been the topic of a number of recent analyst reports. BMO Capital Markets upgraded shares of Block from a "market perform" rating to an "outperform" rating and cut their price target for the company from $100.00 to $89.00 in a research note on Monday, February 24th. Canaccord Genuity Group cut their target price on Block from $120.00 to $100.00 and set a "buy" rating on the stock in a research report on Friday, February 21st. Royal Bank of Canada reaffirmed an "outperform" rating and set a $110.00 price target on shares of Block in a research report on Thursday, February 20th. Oppenheimer raised Block from a "market perform" rating to an "outperform" rating and set a $115.00 price objective on the stock in a report on Thursday, December 19th. Finally, Morgan Stanley raised Block from an "equal weight" rating to an "overweight" rating and lifted their target price for the stock from $65.00 to $67.00 in a report on Thursday, April 3rd. Four equities research analysts have rated the stock with a hold rating and twenty-seven have assigned a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of $92.31.

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.