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

Block, Inc. (NYSE:XYZ - Get Free Report) insider Owen Britton Jennings sold 1,263 shares of the firm's stock in a transaction dated Wednesday, April 2nd. The shares were sold at an average price of $56.19, for a total transaction of $70,967.97. Following the completion of the transaction, the insider now directly owns 181,904 shares in the company, valued at approximately $10,221,185.76. This represents a 0.69 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link.

Block Stock Up 0.4 %

Block stock traded up $0.22 during mid-day trading on Monday, hitting $50.48. 12,993,164 shares of the stock were exchanged, compared to its average volume of 8,790,441. The firm's fifty day moving average price is $69.53. The company has a quick ratio of 2.07, a current ratio of 2.07 and a debt-to-equity ratio of 0.26. Block, Inc. has a 12 month low of $46.42 and a 12 month high of $99.26. The firm has a market capitalization of $31.27 billion, a PE ratio of 11.09, a price-to-earnings-growth ratio of 0.72 and a beta of 2.77.

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

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Institutional Investors Weigh In On Block

Several institutional investors and hedge funds have recently made changes to their positions in XYZ. Empirical Financial Services LLC d.b.a. Empirical Wealth Management boosted its holdings in shares of Block by 183.8% during the 4th quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management now owns 9,154 shares of the technology company's stock worth $778,000 after buying an additional 5,929 shares in the last quarter. Guerra Pan Advisors LLC bought a new position in Block during the fourth quarter worth $211,000. Moody Lynn & Lieberson LLC bought a new position in Block during the fourth quarter worth $3,775,000. Toth Financial Advisory Corp grew its holdings in Block by 18,150.0% in the fourth quarter. Toth Financial Advisory Corp now owns 7,300 shares of the technology company's stock worth $620,000 after purchasing an additional 7,260 shares during the period. Finally, Nepsis Inc. bought a new stake in Block in the fourth quarter valued at $9,769,000. Institutional investors own 70.44% of the company's stock.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on XYZ. Raymond James decreased their price objective on shares of Block from $115.00 to $103.00 and set an "outperform" rating on the stock in a research note on Friday, February 21st. Barclays decreased their price target on Block from $112.00 to $97.00 and set an "overweight" rating on the stock in a research note on Monday, February 24th. Wells Fargo & Company upped their price objective on Block from $85.00 to $95.00 and gave the stock an "overweight" rating in a research report on Thursday, January 16th. Piper Sandler lowered their target price on Block from $101.00 to $85.00 and set an "overweight" rating for the company in a research note on Monday, February 24th. Finally, Citigroup dropped their target price on shares of Block from $108.00 to $90.00 and set a "buy" rating for the company in a report on Friday, March 14th. Three analysts have rated the stock with a hold rating and twenty-seven have assigned a buy rating to the stock. According to MarketBeat.com, Block presently has an average rating of "Moderate Buy" and a consensus target price of $94.46.

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.