Rep. Jefferson Shreve Unloads Block, Inc. (NYSE:XYZ) Stock

Representative Jefferson Shreve (R-Indiana) recently sold shares of Block, Inc. (NYSE:XYZ). In a filing disclosed on March 09th, the Representative disclosed that they had sold between $15,001 and $50,000 in Block stock on February 24th. The trade occurred in the Representative’s “CRT – STANDARD UNIT TRUST” account.

Representative Jefferson Shreve also recently made the following trade(s):

• Purchased $15,001 – $50,000 in shares of RTX (NYSE:RTX) on 2/24/2025.
• Purchased $15,001 – $50,000 in shares of Royal Gold (NASDAQ:RGLD) on 2/24/2025.
• Purchased $15,001 – $50,000 in shares of QUALCOMM (NASDAQ:QCOM) on 2/24/2025.
• Purchased $15,001 – $50,000 in shares of Pfizer (NYSE:PFE) on 2/24/2025.
• Sold $15,001 – $50,000 in shares of Norfolk Southern (NYSE:NSC) on 2/24/2025.
• Purchased $15,001 – $50,000 in shares of CoStar Group (NASDAQ:CSGP) on 2/24/2025.
• Purchased $50,001 – $100,000 in shares of AbbVie (NYSE:ABBV) on 2/24/2025.
• Purchased $15,001 – $50,000 in shares of Johnson & Johnson (NYSE:JNJ) on 2/24/2025.
• Purchased $15,001 – $50,000 in shares of The Cigna Group (NYSE:CI) on 2/24/2025.
• Purchased $15,001 – $50,000 in shares of Adobe (NASDAQ:ADBE) on 2/24/2025.

Block Stock Performance

Shares of XYZ opened at $55.48 on Wednesday. Block, Inc. has a one year low of $53.54 and a one year high of $99.26. The stock has a market capitalization of $34.37 billion, a PE ratio of 12.19, a PEG ratio of 0.72 and a beta of 2.78. 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 (NYSE:XYZ) last announced its quarterly earnings data 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 during the quarter, compared to analyst estimates of $6.23 billion. As a group, analysts forecast that Block, Inc. will post 2.54 EPS for the current year.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on XYZ shares. Barclays lowered their price objective on shares of Block from $112.00 to $97.00 and set an “overweight” rating on the stock in a report on Monday, February 24th. Canaccord Genuity Group lowered their target price on shares of Block from $120.00 to $100.00 and set a “buy” rating on the stock in a report on Friday, February 21st. Monness Crespi & Hardt upgraded Block from a “neutral” rating to a “buy” rating and set a $115.00 price target for the company in a research note on Friday, December 13th. Wells Fargo & Company boosted their price objective on Block from $85.00 to $95.00 and gave the stock an “overweight” rating in a report on Thursday, January 16th. Finally, Oppenheimer upgraded Block from a “market perform” rating to an “outperform” rating and set a $115.00 target price on the stock in a report on Thursday, December 19th. Six research analysts have rated the stock with a hold rating and twenty-five have issued a buy rating to the stock. Based on data from MarketBeat, Block currently has a consensus rating of “Moderate Buy” and an average price target of $95.62.

Institutional Investors Weigh In On Block

Several large investors have recently added to or reduced their stakes in the company. SouthState Corp boosted its position in Block by 85.3% during the third quarter. SouthState Corp now owns 391 shares of the technology company’s stock worth $26,000 after purchasing an additional 180 shares during the period. True Wealth Design LLC lifted its stake in shares of Block by 64.7% during 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 boosted its holdings in Block by 67.7% in the 4th quarter. Versant Capital Management Inc now owns 394 shares of the technology company’s stock worth $33,000 after buying an additional 159 shares during the period. MassMutual Private Wealth & Trust FSB grew its stake in Block by 48.2% in the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 418 shares of the technology company’s stock valued at $36,000 after buying an additional 136 shares in the last quarter. Finally, Darwin Wealth Management LLC bought a new stake in Block during the 3rd quarter valued at $74,000. Hedge funds and other institutional investors own 70.44% of the company’s stock.

Insiders Place Their Bets

In related news, CFO Amrita Ahuja sold 1,502 shares of the business’s stock in a transaction that occurred on Thursday, January 2nd. The shares were sold at an average price of $86.52, for a total transaction of $129,953.04. Following the completion of the transaction, the chief financial officer now owns 242,199 shares of the company’s stock, valued at approximately $20,955,057.48. The trade was a 0.62 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CAO Ajmere Dale sold 1,467 shares of the stock in a transaction that occurred on Friday, February 21st. The stock was sold at an average price of $70.32, for a total transaction of $103,159.44. Following the completion of the sale, the chief accounting officer now owns 82,499 shares in the company, valued at $5,801,329.68. This represents a 1.75 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 21,967 shares of company stock worth $1,649,113 over the last 90 days. Corporate insiders own 10.49% of the company’s stock.

About Representative Shreve

Jefferson Shreve (Republican Party) is a member of the U.S. House, representing Indiana’s 6th Congressional District. He assumed office on January 3, 2025. His current term ends on January 3, 2027.

Shreve (Republican Party) is running for re-election to the U.S. House to represent Indiana’s 6th Congressional District. He declared candidacy for the 2026 election.

Email [email protected] to notify us of updates to this biography.
Jefferson Shreve earned a bachelor’s degree from Indiana University in 1989, a graduate degree from the University of London in 1998, and a graduate degree from Purdue University in 2003. Shreve’s career experience includes working as a real estate executive.

Shreve was elected 7th District Vice Chairman of the Indiana Republican State Committee on January 17, 2018, and was re-elected on March 6, 2021. In 2020, he was selected as a district-level delegate to the 2020 Republican National Convention.

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.