Arnaud Weber Sells 7,095 Shares of Block (NYSE:XYZ) Stock

Block, Inc. (NYSE:XYZ) insider Arnaud Weber sold 7,095 shares of the firm’s stock in a transaction that occurred on Friday, November 21st. The shares were sold at an average price of $61.40, for a total transaction of $435,633.00. Following the completion of the transaction, the insider owned 259,136 shares in the company, valued at $15,910,950.40. The trade was a 2.66% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website.

Block Price Performance

XYZ opened at $65.11 on Thursday. Block, Inc. has a 52-week low of $44.27 and a 52-week high of $99.26. The company has a 50 day moving average of $72.46 and a two-hundred day moving average of $70.72. The company has a market cap of $39.57 billion, a P/E ratio of 13.13, a P/E/G ratio of 3.57 and a beta of 2.73. The company has a quick ratio of 2.18, a current ratio of 2.18 and a debt-to-equity ratio of 0.25.

Block (NYSE:XYZ) last posted its earnings results on Thursday, November 6th. The technology company reported $0.54 earnings per share for the quarter, beating the consensus estimate of $0.25 by $0.29. Block had a net margin of 12.99% and a return on equity of 5.54%. The business had revenue of $6.11 billion for the quarter. During the same quarter in the previous year, the firm posted $0.53 EPS. The business’s revenue was up 2.3% compared to the same quarter last year. On average, analysts expect that Block, Inc. will post 2.54 earnings per share for the current year.

Analyst Ratings Changes

A number of research analysts have commented on XYZ shares. Bank of America boosted their price objective on Block from $86.00 to $88.00 and gave the stock a “buy” rating in a research note on Friday, November 21st. Macquarie boosted their price target on Block from $50.00 to $67.00 and gave the stock a “neutral” rating in a research report on Tuesday, August 12th. Mizuho upped their price target on Block from $88.00 to $100.00 and gave the stock an “outperform” rating in a report on Thursday, November 20th. Jefferies Financial Group lifted their price objective on shares of Block from $90.00 to $95.00 and gave the company a “buy” rating in a research note on Tuesday, October 21st. Finally, Zacks Research cut shares of Block from a “strong-buy” rating to a “hold” rating in a research report on Monday, November 10th. Three analysts have rated the stock with a Strong Buy rating, twenty-one have assigned a Buy rating, twelve have assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $83.42.

Institutional Trading of Block

Several institutional investors have recently added to or reduced their stakes in XYZ. Traub Capital Management LLC acquired a new position in Block during the 2nd quarter worth $26,000. Nemes Rush Group LLC acquired a new stake in shares of Block in the 2nd quarter valued at about $26,000. City Holding Co. bought a new position in shares of Block during the third quarter worth about $27,000. Cromwell Holdings LLC acquired a new position in Block in the third quarter worth about $27,000. Finally, Cary Street Partners Investment Advisory LLC acquired a new position in Block in the third quarter worth about $28,000. 70.44% of the stock is owned by institutional investors and hedge funds.

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.