Insider Selling: Block (NYSE:XYZ) Insider Sells $225,422.55 in Stock

Block, Inc. (NYSE:XYZ) insider Owen Britton Jennings sold 3,555 shares of the firm’s stock in a transaction dated Tuesday, March 3rd. The shares were sold at an average price of $63.41, for a total transaction of $225,422.55. Following the completion of the transaction, the insider directly owned 231,262 shares in the company, valued at $14,664,323.42. This represents a 1.51% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link.

Owen Britton Jennings also recently made the following trade(s):

• On Friday, January 2nd, Owen Britton Jennings sold 822 shares of Block stock. The stock was sold at an average price of $63.98, for a total value of $52,591.56.

Block Price Performance

NYSE:XYZ opened at $66.54 on Friday. The stock has a 50 day moving average of $61.23 and a two-hundred day moving average of $67.80. Block, Inc. has a 12 month low of $44.27 and a 12 month high of $82.50. The firm has a market cap of $40.43 billion, a P/E ratio of 31.69, a price-to-earnings-growth ratio of 1.22 and a beta of 2.65. The company has a current ratio of 2.20, a quick ratio of 2.20 and a debt-to-equity ratio of 0.26.

Block (NYSE:XYZ) last released its earnings results on Thursday, February 26th. The technology company reported $0.65 earnings per share for the quarter, beating the consensus estimate of $0.26 by $0.39. The business had revenue of $6.25 billion for the quarter. Block had a return on equity of 6.66% and a net margin of 5.40%.The business’s revenue was up 3.6% compared to the same quarter last year. During the same quarter last year, the business earned $0.71 EPS. On average, analysts expect that Block, Inc. will post 2.54 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

XYZ has been the topic of several recent research reports. TD Cowen lifted their target price on shares of Block from $91.00 to $95.00 and gave the stock a “buy” rating in a research note on Friday, February 27th. Oppenheimer raised their price target on shares of Block from $85.00 to $89.00 and gave the stock an “outperform” rating in a research note on Friday, February 27th. Keefe, Bruyette & Woods lowered their price target on shares of Block from $90.00 to $85.00 and set an “outperform” rating on the stock in a research report on Friday, January 2nd. Weiss Ratings reiterated a “hold (c)” rating on shares of Block in a report on Monday, December 29th. Finally, Bank of America initiated coverage on shares of Block in a research note on Thursday. They issued a “buy” rating and a $88.00 target price on the stock. Three analysts have rated the stock with a Strong Buy rating, twenty-five have given a Buy rating, eight have given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $82.79.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of the company. Vanguard Group Inc. increased its position in Block by 23.1% during the third quarter. Vanguard Group Inc. now owns 67,626,485 shares of the technology company’s stock worth $4,887,366,000 after purchasing an additional 12,709,824 shares during the last quarter. Capital World Investors boosted its holdings in Block by 41.8% in the 4th quarter. Capital World Investors now owns 16,023,441 shares of the technology company’s stock valued at $1,042,966,000 after purchasing an additional 4,727,217 shares during the last quarter. Geode Capital Management LLC grew its stake in shares of Block by 0.5% in the 4th quarter. Geode Capital Management LLC now owns 14,406,899 shares of the technology company’s stock valued at $934,121,000 after buying an additional 67,560 shares during the period. Sands Capital Management LLC grew its stake in shares of Block by 12.2% in the 3rd quarter. Sands Capital Management LLC now owns 11,603,057 shares of the technology company’s stock valued at $838,553,000 after buying an additional 1,262,317 shares during the period. Finally, Dragoneer Investment Group LLC acquired a new stake in shares of Block during the 2nd quarter worth approximately $627,233,000. Institutional investors and hedge funds own 70.44% of the company’s stock.

About Block

Block (NYSE:XYZ) is a financial technology company that builds products and services to facilitate electronic payments, commerce, and consumer finance. Its principal business lines include a seller-focused ecosystem that provides point-of-sale hardware and software, payment processing, invoicing, payroll and lending services, and a consumer-facing platform that offers peer-to-peer payments, banking-like features, and investing. Block’s portfolio also encompasses music streaming and buy-now-pay-later capabilities through businesses acquired to broaden its reach beyond core payments.

The company was founded as Square in 2009 by Jack Dorsey and Jim McKelvey and later rebranded to Block to reflect a diversified set of businesses across payments, consumer finance, and emerging technologies.