Owen Britton Jennings Sells 10,417 Shares of Block (NYSE:XYZ) Stock

Block, Inc. (NYSE:XYZ) insider Owen Britton Jennings sold 10,417 shares of Block stock in a transaction on Friday, November 21st. The stock was sold at an average price of $61.40, for a total value of $639,603.80. Following the sale, the insider owned 243,540 shares in the company, valued at $14,953,356. The trade was a 4.10% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website.

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

• On Thursday, October 2nd, Owen Britton Jennings sold 1,050 shares of Block stock. The shares were sold at an average price of $74.77, for a total transaction of $78,508.50.

Block Stock Performance

Shares of NYSE:XYZ traded up $1.78 during mid-day trading on Tuesday, reaching $63.64. The company had a trading volume of 7,216,840 shares, compared to its average volume of 9,071,260. The company has a current ratio of 2.18, a quick ratio of 2.18 and a debt-to-equity ratio of 0.25. The company’s 50-day moving average price is $72.91 and its 200-day moving average price is $70.66. Block, Inc. has a one year low of $44.27 and a one year high of $99.26. The firm has a market cap of $38.67 billion, a price-to-earnings ratio of 12.83, a PEG ratio of 3.47 and a beta of 2.73.

Block (NYSE:XYZ) last announced its quarterly earnings data on Thursday, November 6th. The technology company reported $0.54 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.25 by $0.29. Block had a return on equity of 5.54% and a net margin of 12.99%.The business had revenue of $6.11 billion for the quarter. During the same quarter in the prior year, the firm posted $0.53 earnings per share. The company’s revenue was up 2.3% on a year-over-year basis. As a group, equities research analysts anticipate that Block, Inc. will post 2.54 EPS for the current fiscal year.

Institutional Investors Weigh In On Block

Hedge funds have recently added to or reduced their stakes in the company. Motley Fool Asset Management LLC purchased a new stake in shares of Block during the second quarter worth about $2,055,000. Y.D. More Investments Ltd bought a new position in Block during the 2nd quarter valued at approximately $1,628,000. Lane Generational LLC purchased a new stake in Block in the 2nd quarter worth approximately $6,043,000. Cidel Asset Management Inc. bought a new stake in shares of Block in the 2nd quarter worth approximately $311,000. Finally, Bessemer Group Inc. bought a new stake in shares of Block in the 2nd quarter worth approximately $62,389,000. Institutional investors own 70.44% of the company’s stock.

Analyst Ratings Changes

XYZ has been the topic of a number of analyst reports. Weiss Ratings reissued a “hold (c+)” rating on shares of Block in a report on Wednesday, October 8th. Morgan Stanley increased their price objective on Block from $71.00 to $72.00 and gave the stock an “equal weight” rating in a report on Friday. Compass Point upgraded shares of Block from a “strong sell” rating to a “hold” rating in a research report on Friday. BTIG Research reissued a “buy” rating and issued a $90.00 price target on shares of Block in a report on Thursday, November 20th. Finally, Truist Financial upgraded shares of Block from a “sell” rating to a “hold” rating in a research report on Monday, November 17th. Three research analysts have rated the stock with a Strong Buy rating, twenty-one have given a Buy rating, twelve have issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, Block has a consensus rating of “Moderate Buy” and an average price target of $83.42.

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.