Block (NYSE:XYZ) Stock Price Passes Below 50 Day Moving Average - Time to Sell?

Block, Inc. (NYSE:XYZ - Get Free Report)'s stock price passed below its 50-day moving average during trading on Tuesday . The stock has a 50-day moving average of $71.78 and traded as low as $61.21. Block shares last traded at $61.38, with a volume of 7,356,756 shares trading hands.

Analysts Set New Price Targets

A number of analysts recently issued reports on XYZ shares. Royal Bank of Canada reissued an "outperform" rating and set a $110.00 target price on shares of Block in a research note on Thursday, February 20th. Morgan Stanley upgraded shares of Block from an "underweight" rating to an "equal weight" rating and set a $65.00 price objective on the stock in a report on Tuesday, February 25th. Keefe, Bruyette & Woods raised shares of Block from a "market perform" rating to an "outperform" rating and reduced their target price for the stock from $87.00 to $80.00 in a research note on Tuesday, March 18th. Wells Fargo & Company lifted their price target on Block from $85.00 to $95.00 and gave the company an "overweight" rating in a research note on Thursday, January 16th. Finally, BMO Capital Markets raised Block from a "market perform" rating to an "outperform" rating and reduced their price objective for the stock from $100.00 to $89.00 in a research report on Monday, February 24th. Four research analysts have rated the stock with a hold rating and twenty-six have assigned a buy rating to the stock. According to data from MarketBeat.com, Block currently has an average rating of "Moderate Buy" and a consensus price target of $95.11.

Block Stock Performance

The company has a current ratio of 2.07, a quick ratio of 2.07 and a debt-to-equity ratio of 0.26. The business's fifty day simple moving average is $71.20. The firm has a market capitalization of $34.30 billion, a price-to-earnings ratio of 12.17, a price-to-earnings-growth ratio of 0.72 and a beta of 2.78.

Block (NYSE:XYZ - Get Free Report) last posted its earnings results 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 company had revenue of $6.03 billion for the quarter, compared to analyst estimates of $6.23 billion. Block had a return on equity of 5.80% and a net margin of 11.92%. Analysts expect that Block, Inc. will post 2.54 earnings per share for the current fiscal year.

Insider Activity

In other Block news, CAO Ajmere Dale sold 2,044 shares of the business's stock in a transaction dated Thursday, January 2nd. The shares were sold at an average price of $86.72, for a total value of $177,255.68. Following the completion of the sale, the chief accounting officer now owns 83,966 shares of the company's stock, valued at $7,281,531.52. The trade was a 2.38 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Owen Britton Jennings sold 2,836 shares of the stock in a transaction that occurred on Thursday, January 2nd. The stock was sold at an average price of $89.38, for a total value of $253,481.68. Following the sale, the insider now directly owns 195,449 shares in the company, valued at $17,469,231.62. This represents a 1.43 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 21,967 shares of company stock valued at $1,649,113. 10.49% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of the stock. True Wealth Design LLC raised its position in shares of Block by 64.7% in the 3rd quarter. True Wealth Design LLC now owns 494 shares of the technology company's stock valued at $33,000 after buying an additional 194 shares in the last quarter. Versant Capital Management Inc raised its position in Block by 67.7% during the fourth quarter. Versant Capital Management Inc now owns 394 shares of the technology company's stock valued at $33,000 after purchasing an additional 159 shares in the last quarter. MassMutual Private Wealth & Trust FSB lifted its stake in Block by 48.2% during the fourth 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 last quarter. Larson Financial Group LLC boosted its holdings in shares of Block by 14.8% in the 3rd quarter. Larson Financial Group LLC now owns 1,192 shares of the technology company's stock valued at $80,000 after purchasing an additional 154 shares in the last quarter. Finally, Rosenberg Matthew Hamilton increased its stake in shares of Block by 18.3% in the 4th quarter. Rosenberg Matthew Hamilton now owns 982 shares of the technology company's stock valued at $83,000 after purchasing an additional 152 shares during the last quarter. 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.