Insider Selling: Block (NYSE:XYZ) Insider Sells 3,555 Shares of Stock

Block, Inc. (NYSE:XYZ) insider Owen Britton Jennings sold 3,555 shares of the business’s stock in a transaction that occurred on Tuesday, March 3rd. The stock was sold at an average price of $63.41, for a total value of $225,422.55. Following the transaction, the insider directly owned 231,262 shares in the company, valued at $14,664,323.42. The trade was a 1.51% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink.

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

• On Friday, January 2nd, Owen Britton Jennings sold 822 shares of Block stock. The shares were sold at an average price of $63.98, for a total value of $52,591.56.

Block Stock Performance

XYZ stock traded up $1.89 during midday trading on Thursday, reaching $67.13. 11,828,995 shares of the company were exchanged, compared to its average volume of 9,228,104. Block, Inc. has a one year low of $44.27 and a one year high of $82.50. The firm has a market capitalization of $40.79 billion, a price-to-earnings ratio of 31.97, a price-to-earnings-growth ratio of 1.43 and a beta of 2.65. The business has a 50-day moving average price of $61.20 and a two-hundred day moving average price of $67.92. The company has a debt-to-equity ratio of 0.26, a current ratio of 2.20 and a quick ratio of 2.20.

Block (NYSE:XYZ) last posted its earnings results on Thursday, February 26th. The technology company reported $0.65 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.26 by $0.39. The company had revenue of $6.25 billion during the quarter. Block had a net margin of 5.40% and a return on equity of 6.66%. The business’s quarterly revenue was up 3.6% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.71 EPS. Equities research analysts forecast that Block, Inc. will post 2.54 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on XYZ. Truist Financial set a $72.00 target price on Block in a research note on Tuesday, January 20th. Oppenheimer upped their price objective on Block from $85.00 to $89.00 and gave the company an “outperform” rating in a report on Friday, February 27th. Morgan Stanley raised Block from an “equal weight” rating to an “overweight” rating and lifted their target price for the stock from $72.00 to $93.00 in a report on Friday, February 27th. Stephens reissued an “overweight” rating and issued a $95.00 target price on shares of Block in a research report on Thursday, November 20th. Finally, Zacks Research lowered shares of Block from a “strong-buy” rating to a “hold” rating in a research report on Monday, November 10th. Three analysts have rated the stock with a Strong Buy rating, twenty-five have issued a Buy rating, eight have given a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, Block has a consensus rating of “Moderate Buy” and a consensus price target of $82.79.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Vanguard Group Inc. lifted its position in Block by 23.1% during the third quarter. Vanguard Group Inc. now owns 67,626,485 shares of the technology company’s stock worth $4,887,366,000 after purchasing an additional 12,709,824 shares during the period. Capital World Investors raised its position in shares of Block by 41.8% in the 4th quarter. Capital World Investors now owns 16,023,441 shares of the technology company’s stock valued at $1,042,966,000 after buying an additional 4,727,217 shares in the last quarter. Geode Capital Management LLC lifted its holdings in shares of Block by 0.5% during the 4th quarter. Geode Capital Management LLC now owns 14,406,899 shares of the technology company’s stock worth $934,121,000 after acquiring an additional 67,560 shares during the period. Sands Capital Management LLC boosted its position in shares of Block by 12.2% during the 3rd quarter. Sands Capital Management LLC now owns 11,603,057 shares of the technology company’s stock worth $838,553,000 after acquiring an additional 1,262,317 shares in the last quarter. Finally, Dragoneer Investment Group LLC bought a new position in Block in the second quarter valued at approximately $627,233,000. 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.