Block, Inc. (NYSE:XYZ) Insider Owen Britton Jennings Sells 1,263 Shares

Block, Inc. (NYSE:XYZ) insider Owen Britton Jennings sold 1,263 shares of Block stock in a transaction that occurred on Wednesday, April 2nd. The stock was sold at an average price of $56.19, for a total transaction of $70,967.97. Following the completion of the sale, the insider now directly owns 181,904 shares in the company, valued at $10,221,185.76. This trade represents a 0.69 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink.

Block Stock Performance

Shares of NYSE:XYZ opened at $50.17 on Friday. The stock has a market capitalization of $31.08 billion, a price-to-earnings ratio of 11.03, a PEG ratio of 0.72 and a beta of 2.77. The company has a debt-to-equity ratio of 0.26, a current ratio of 2.07 and a quick ratio of 2.07. Block, Inc. has a 52-week low of $47.69 and a 52-week high of $99.26. The stock has a fifty day moving average of $69.53.

Block (NYSE:XYZ) last posted its quarterly earnings data on Thursday, February 20th. The technology company reported $0.26 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.37 by ($0.11). The firm had revenue of $6.03 billion during the quarter, compared to analysts’ expectations of $6.23 billion. Block had a return on equity of 5.80% and a net margin of 11.92%. On average, sell-side analysts forecast that Block, Inc. will post 2.54 EPS for the current fiscal year.

Analysts Set New Price Targets

XYZ has been the topic of several research reports. Sanford C. Bernstein set a $100.00 target price on Block in a research note on Saturday, March 8th. The Goldman Sachs Group dropped their price objective on shares of Block from $94.00 to $74.00 and set a “buy” rating on the stock in a report on Wednesday. Barclays reduced their target price on shares of Block from $112.00 to $97.00 and set an “overweight” rating for the company in a research note on Monday, February 24th. Macquarie restated an “outperform” rating and set a $110.00 price target on shares of Block in a research note on Thursday, March 6th. Finally, Morgan Stanley raised shares of Block from an “equal weight” rating to an “overweight” rating and boosted their target price for the company from $65.00 to $67.00 in a report on Thursday. Three equities research analysts have rated the stock with a hold rating and twenty-seven have issued a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $94.46.

Institutional Trading of Block

Hedge funds and other institutional investors have recently bought and sold shares of the company. Diversify Advisory Services LLC bought a new stake in shares of Block in the 4th quarter worth approximately $1,315,000. Perpetual Ltd bought a new stake in Block in the fourth quarter worth $10,779,000. Nomura Asset Management Co. Ltd. boosted its position in Block by 6.2% during the third quarter. Nomura Asset Management Co. Ltd. now owns 253,787 shares of the technology company’s stock valued at $17,037,000 after buying an additional 14,822 shares during the period. Wealthcare Advisory Partners LLC boosted its position in Block by 9.8% during the fourth quarter. Wealthcare Advisory Partners LLC now owns 8,065 shares of the technology company’s stock valued at $685,000 after buying an additional 717 shares during the period. Finally, TB Alternative Assets Ltd. bought a new position in shares of Block during the fourth quarter valued at about $3,530,000. Hedge funds and other institutional investors own 70.44% of the company’s stock.

About Block

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.