Insider Selling: Block (NYSE:XYZ) Director Sells $3,062,500.00 in Stock

Block, Inc. (NYSE:XYZ) Director Anthony Eisen sold 35,000 shares of the business’s stock in a transaction on Wednesday, November 4th. The shares were sold at an average price of $87.50, for a total value of $3,062,500.00. Following the transaction, the director owned 1,177,672 shares of the company’s stock, valued at approximately $103,046,300. The trade was a 2.89% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Anthony Mathew Eisen also recently made the following trade(s):

• On Wednesday, October 28th, Anthony Eisen sold 6,000 shares of Block stock. The shares were sold at an average price of $74.44, for a total value of $446,640.00.
• On Monday, October 26th, Anthony Eisen sold 6,000 shares of Block stock. The stock was sold at an average price of $75.76, for a total value of $454,560.00.
• On Friday, October 23rd, Anthony Eisen sold 6,000 shares of Block stock. The stock was sold at an average price of $77.84, for a total value of $467,040.00.
• On Wednesday, October 21st, Anthony Eisen sold 6,000 shares of Block stock. The stock was sold at an average price of $79.07, for a total value of $474,420.00.
• On Monday, October 19th, Anthony Eisen sold 6,000 shares of Block stock. The shares were sold at an average price of $78.58, for a total transaction of $471,480.00.
• On Friday, October 16th, Anthony Eisen sold 6,000 shares of Block stock. The stock was sold at an average price of $80.43, for a total transaction of $482,580.00.
• On Wednesday, October 14th, Anthony Eisen sold 6,000 shares of Block stock. The stock was sold at an average price of $75.70, for a total transaction of $454,200.00.
• On Monday, October 12th, Anthony Eisen sold 6,000 shares of Block stock. The stock was sold at an average price of $76.97, for a total transaction of $461,820.00.
• On Friday, October 9th, Anthony Eisen sold 6,000 shares of Block stock. The shares were sold at an average price of $75.75, for a total transaction of $454,500.00.
• On Wednesday, October 7th, Anthony Eisen sold 6,000 shares of Block stock. The shares were sold at an average price of $75.35, for a total transaction of $452,100.00.

Block Trading Up 1.8%

Block stock traded up $1.54 during trading hours on Friday, hitting $85.58. The company had a trading volume of 7,756,635 shares, compared to its average volume of 6,217,359. The firm has a market cap of $51.42 billion, a P/E ratio of 115.65, a P/E/G ratio of 0.92 and a beta of 2.58. The company has a debt-to-equity ratio of 0.25, a quick ratio of 2.21 and a current ratio of 2.23. Block, Inc. has a 1 year low of $48.21 and a 1 year high of $88.51. The company has a 50-day moving average price of $77.90 and a two-hundred day moving average price of $71.39.

Block (NYSE:XYZ) last issued its earnings results on Tuesday, November 3rd. The technology company reported $1.13 EPS for the quarter, topping analysts’ consensus estimates of $0.68 by $0.45. Block had a net margin of 1.80% and a return on equity of 9.63%. The business had revenue of $6.72 billion for the quarter. During the same period last year, the business posted $0.54 earnings per share. The business’s revenue was up 9.9% compared to the same quarter last year. On average, sell-side analysts anticipate that Block, Inc. will post 2.75 earnings per share for the current year.

Hedge Funds Weigh In On Block

Large investors have recently bought and sold shares of the business. BlackRock Inc. bought a new stake in Block during the 2nd quarter valued at $621,703,000. Sumitomo Mitsui Trust Group Inc. raised its position in shares of Block by 18.3% in the 3rd quarter. Sumitomo Mitsui Trust Group Inc. now owns 3,194,419 shares of the technology company’s stock worth $234,886,000 after acquiring an additional 494,083 shares in the last quarter. Hyperion Asset Management Ltd raised its position in shares of Block by 6.9% in the 2nd quarter. Hyperion Asset Management Ltd now owns 2,682,854 shares of the technology company’s stock worth $203,897,000 after acquiring an additional 172,848 shares in the last quarter. Arrowstreet Capital Limited Partnership lifted its stake in shares of Block by 528.2% during the 1st quarter. Arrowstreet Capital Limited Partnership now owns 3,309,296 shares of the technology company’s stock worth $199,153,000 after purchasing an additional 2,782,523 shares during the last quarter. Finally, Dimensional Fund Advisors LP lifted its stake in shares of Block by 1.3% during the 1st quarter. Dimensional Fund Advisors LP now owns 3,147,988 shares of the technology company’s stock worth $189,353,000 after purchasing an additional 39,112 shares during the last quarter. Institutional investors own 70.44% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have commented on XYZ shares. Loop Capital raised their price objective on Block from $85.00 to $94.00 in a report on Thursday, August 6th. Keefe, Bruyette & Woods increased their price target on Block from $90.00 to $100.00 and gave the stock an “outperform” rating in a research report on Thursday, August 6th. Daiwa Securities Group raised their price target on Block from $80.00 to $94.00 and gave the company an “outperform” rating in a research note on Thursday, August 13th. Raymond James Financial lifted their price objective on Block from $97.00 to $100.00 and gave the company an “outperform” rating in a report on Wednesday. Finally, Truist Financial decreased their price objective on Block from $93.00 to $89.00 and set a “buy” rating for the company in a report on Friday, October 23rd. Two analysts have rated the stock with a Strong Buy rating, thirty-four have assigned a Buy rating, ten have assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, Block has an average rating of “Moderate Buy” and an average target price of $98.24.

Block News Summary

Here are the key news stories impacting Block this week:

• Positive Sentiment: Several firms raised price targets, reinforcing expectations for further gains. UBS lifted its target to $105, Raymond James to $100 while maintaining an “outperform” rating, and BMO to $102 with a “market perform” rating. Wells Fargo raised its target to $110 and Barclays to $105, both with “overweight” ratings; Argus raised its target to $105 and maintained “buy.” UBS rating Raymond James rating BMO target update Wells Fargo rating Barclays rating Argus rating
• Positive Sentiment: Block reported better-than-expected earnings, with quarterly EPS of $1.13 versus the $0.68 consensus and revenue growth of 9.9% year over year. Shares subsequently reached a 52-week high, and traders bought a large volume of call options—signals of favorable investor expectations. Earnings and 52-week high Call options activity
• Neutral Sentiment: Rothschild & Co Redburn raised its target from $75 to $85 but kept a “neutral” rating, putting its estimate close to the recent share price. Redburn target update
• Negative Sentiment: Block reportedly made another round of job cuts this year, affecting employees in its Cash App businesses. The reductions may raise concerns about execution or operating pressures despite the recent earnings beat. Report on Block job cuts

Block Company Profile

Block, Inc is a financial technology company that provides payments, commerce, and financial services through an ecosystem of business and consumer products. Formerly known as Square, the company was co-founded by Jack Dorsey and Jim McKelvey and changed its corporate name to Block in 2021.

Its Square ecosystem serves businesses with point-of-sale hardware, payment processing, invoicing, payroll, inventory management, customer engagement, online commerce, and other software tools. Block also offers lending and other financial services to eligible business customers through Square-related products.

For consumers, Block operates Cash App, a mobile financial services platform that supports services such as peer-to-peer payments, money transfers, a Cash App Card, direct deposit, investing, and bitcoin transactions, subject to product and geographic availability.