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

Block, Inc. (NYSE:XYZ) insider Owen Britton Jennings sold 1,263 shares of Block stock in a transaction dated Wednesday, April 2nd. The stock was sold at an average price of $56.19, for a total value of $70,967.97. Following the completion of the transaction, the insider now owns 181,904 shares of the company’s stock, valued at $10,221,185.76. This trade represents a 0.69 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website.

Block Trading Down 7.0 %

XYZ opened at $50.17 on Friday. The company has a current ratio of 2.07, a quick ratio of 2.07 and a debt-to-equity ratio of 0.26. Block, Inc. has a 1 year low of $47.69 and a 1 year high of $99.26. The company’s fifty day moving average price is $69.53. The firm has a market capitalization of $31.08 billion, a PE ratio of 11.03, a price-to-earnings-growth ratio of 0.72 and a beta of 2.77.

Block (NYSE:XYZ) 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). Block had a net margin of 11.92% and a return on equity of 5.80%. The business had revenue of $6.03 billion during the quarter, compared to analyst estimates of $6.23 billion. As a group, sell-side analysts forecast that Block, Inc. will post 2.54 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Block

Several hedge funds have recently bought and sold shares of XYZ. Versant Capital Management Inc raised its stake in shares of Block by 67.7% in the 4th quarter. Versant Capital Management Inc now owns 394 shares of the technology company’s stock valued at $33,000 after acquiring an additional 159 shares in the last quarter. MassMutual Private Wealth & Trust FSB grew its holdings in Block by 48.2% during the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 418 shares of the technology company’s stock valued at $36,000 after purchasing an additional 136 shares during the last quarter. Rosenberg Matthew Hamilton raised its position in shares of Block by 18.3% in the fourth 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 period. TD Private Client Wealth LLC lifted its stake in shares of Block by 15.8% in the third quarter. TD Private Client Wealth LLC now owns 2,066 shares of the technology company’s stock worth $139,000 after buying an additional 282 shares during the last quarter. Finally, Ulland Investment Advisors LLC boosted its holdings in shares of Block by 92.3% during the 4th quarter. Ulland Investment Advisors LLC now owns 2,135 shares of the technology company’s stock worth $181,000 after buying an additional 1,025 shares during the period. 70.44% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on XYZ. Keefe, Bruyette & Woods upgraded Block from a “market perform” rating to an “outperform” rating and decreased their target price for the stock from $87.00 to $80.00 in a research report on Tuesday, March 18th. The Goldman Sachs Group lowered their target price on shares of Block from $94.00 to $74.00 and set a “buy” rating for the company in a research note on Wednesday. Monness Crespi & Hardt upgraded shares of Block from a “neutral” rating to a “buy” rating and set a $115.00 price target on the stock in a research report on Friday, December 13th. Morgan Stanley raised shares of Block from an “equal weight” rating to an “overweight” rating and boosted their price objective for the company from $65.00 to $67.00 in a research report on Thursday. Finally, Barclays cut their target price 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. Three investment analysts have rated the stock with a hold rating and twenty-seven have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock 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.