Key Points
- Insider sale: Owen Britton Jennings sold 3,555 shares on March 3 at an average price of $63.41 for $225,422.55, reducing his stake by 1.51% to 231,262 shares (≈$14.66M).
- Earnings beat: Block reported $0.65 EPS vs. $0.26 expected and $6.25 billion in revenue (up 3.6% YoY), and analysts forecast $2.54 EPS for the current year.
- Market and analyst view: The stock was trading near $66.84 (down 0.8%), carries a consensus "Moderate Buy" with a mean target of $82.79, and institutional investors own about 70.44% of the company (Invesco recently raised its stake 40.2%).
Block, Inc. (NYSE:XYZ - Get Free Report) insider Owen Britton Jennings sold 3,555 shares of Block stock in a transaction on Tuesday, March 3rd. The stock was sold at an average price of $63.41, for a total transaction of $225,422.55. Following the transaction, the insider directly owned 231,262 shares in the company, valued at approximately $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 Securities & Exchange Commission, which is accessible 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 transaction of $52,591.56.
Block Stock Down 0.8%
XYZ stock traded down $0.54 during midday trading on Friday, hitting $66.84. The company's stock had a trading volume of 4,783,999 shares, compared to its average volume of 9,120,352. The stock has a market capitalization of $40.62 billion, a P/E ratio of 31.83, a PEG ratio of 1.30 and a beta of 2.65. The company's fifty day moving average price is $61.22 and its 200 day moving average price is $67.92. The company has a debt-to-equity ratio of 0.26, a current ratio of 2.20 and a quick ratio of 2.20. Block, Inc. has a twelve month low of $44.27 and a twelve month high of $82.50.
Block (NYSE:XYZ - Get Free Report) last issued its quarterly earnings results on Thursday, February 26th. The technology company reported $0.65 EPS for the quarter, beating the consensus estimate of $0.26 by $0.39. Block had a return on equity of 6.66% and a net margin of 5.40%.The firm had revenue of $6.25 billion during the quarter. During the same period last year, the company posted $0.71 earnings per share. The business's revenue for the quarter was up 3.6% on a year-over-year basis. As a group, equities research analysts predict that Block, Inc. will post 2.54 EPS for the current year.
Wall Street Analysts Forecast Growth
A number of equities research analysts have recently issued reports on XYZ shares. Weiss Ratings restated a "hold (c)" rating on shares of Block in a report on Monday, December 29th. Cantor Fitzgerald reaffirmed an "overweight" rating and set a $70.00 price target on shares of Block in a report on Friday, February 27th. BTIG Research restated a "buy" rating and issued a $90.00 price target on shares of Block in a research report on Friday, February 27th. Royal Bank Of Canada reissued an "outperform" rating and issued a $90.00 price objective on shares of Block in a research report on Thursday, November 20th. Finally, HSBC raised Block from a "hold" rating to a "buy" rating and raised their target price for the stock from $70.00 to $77.00 in a research note on Tuesday. Three equities research analysts have rated the stock with a Strong Buy rating, twenty-five have given a Buy rating, eight have issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $82.79.
Check Out Our Latest Research Report on XYZ
Hedge Funds Weigh In On Block
Several institutional investors have recently added to or reduced their stakes in XYZ. SHP Wealth Management purchased a new stake in Block during the 4th quarter worth about $78,000. Reflection Asset Management purchased a new position in shares of Block in the 4th quarter worth about $50,000. Walser Wealth Management Company A Ltd Liability Co purchased a new position in shares of Block in the 4th quarter worth about $229,000. Invesco Ltd. raised its holdings in shares of Block by 40.2% during the 4th quarter. Invesco Ltd. now owns 5,299,033 shares of the technology company's stock valued at $344,914,000 after buying an additional 1,520,735 shares in the last quarter. Finally, Axxcess Wealth Management LLC lifted its position in Block by 24.2% in the 4th quarter. Axxcess Wealth Management LLC now owns 4,454 shares of the technology company's stock worth $290,000 after buying an additional 869 shares during the last quarter. Institutional investors own 70.44% of the company's stock.
Block Company Profile
(
Get Free Report)
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.
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