Key Points
- Block director Anthony Eisen sold 100,000 shares for $8.9 million at an average price of $89 on November 9. The sale, made under a pre-arranged Rule 10b5-1 plan, reduced his position by 8.49%; he still holds 1,077,672 shares.
- Eisen had also made multiple stock sales in recent weeks, including 35,000 shares on November 4 and several smaller sales in October.
- Block’s latest quarterly results beat analyst expectations, with EPS of $1.13 versus estimates of $0.68 and revenue up 9.9% year over year; analysts’ consensus rating was “Moderate Buy,” with a $100.32 average price target.
Block, Inc. (NYSE:XYZ - Get Free Report) Director Anthony Eisen sold 100,000 shares of Block stock in a transaction on Monday, November 9th. The shares were sold at an average price of $89.00, for a total transaction of $8,900,000.00. Following the completion of the sale, the director owned 1,077,672 shares in the company, valued at approximately $95,912,808. This trade represents a 8.49% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.
Anthony Mathew Eisen also recently made the following trade(s):
- On Wednesday, November 4th, Anthony Eisen sold 35,000 shares of Block stock. The shares were sold at an average price of $87.50, for a total transaction of $3,062,500.00.
- On Wednesday, October 28th, Anthony Eisen sold 6,000 shares of Block stock. The stock was sold at an average price of $74.44, for a total transaction of $446,640.00.
- On Monday, October 26th, Anthony Eisen sold 6,000 shares of Block stock. The stock was sold at an average price of $75.76, for a total transaction of $454,560.00.
- On Friday, October 23rd, Anthony Eisen sold 6,000 shares of Block stock. The stock was sold at an average price of $77.84, for a total transaction of $467,040.00.
- On Wednesday, October 21st, Anthony Eisen sold 6,000 shares of Block stock. The shares were sold at an average price of $79.07, for a total transaction of $474,420.00.
- On Monday, October 19th, Anthony Eisen sold 6,000 shares of Block stock. The shares were sold at an average price of $78.58, for a total transaction of $471,480.00.
- On Friday, October 16th, Anthony Eisen sold 6,000 shares of Block stock. The shares were sold at an average price of $80.43, for a total transaction of $482,580.00.
- On Wednesday, October 14th, Anthony Eisen sold 6,000 shares of Block stock. The shares were sold at an average price of $75.70, for a total transaction of $454,200.00.
- On Monday, October 12th, Anthony Eisen sold 6,000 shares of Block stock. The stock was sold at an average price of $76.97, for a total transaction of $461,820.00.
- On Friday, October 9th, Anthony Eisen sold 6,000 shares of Block stock. The stock was sold at an average price of $75.75, for a total transaction of $454,500.00.
Block Stock Performance
Shares of XYZ opened at $82.31 on Friday. The company has a debt-to-equity ratio of 0.25, a current ratio of 2.23 and a quick ratio of 2.23. Block, Inc. has a one year low of $48.21 and a one year high of $89.39. The company has a 50-day simple moving average of $78.24 and a two-hundred day simple moving average of $71.90. The firm has a market capitalization of $49.45 billion, a PE ratio of 111.24, a price-to-earnings-growth ratio of 0.85 and a beta of 2.58.
Block (NYSE:XYZ - Get Free Report) last posted its earnings results on Tuesday, November 3rd. The technology company reported $1.13 earnings per share for the quarter, topping analysts' consensus estimates of $0.68 by $0.45. Block had a return on equity of 9.63% and a net margin of 1.80%. The firm had revenue of $6.72 billion for the quarter. During the same quarter last year, the company posted $0.54 EPS. The firm's revenue was up 9.9% on a year-over-year basis. On average, analysts anticipate that Block, Inc. will post 2.86 EPS for the current fiscal year.
Institutional Investors Weigh In On Block
Several institutional investors and hedge funds have recently made changes to their positions in XYZ. BlackRock Inc. purchased a new position in Block in the 2nd quarter worth approximately $621,703,000. Sumitomo Mitsui Trust Group Inc. lifted its position in Block by 18.3% in the 3rd quarter. Sumitomo Mitsui Trust Group Inc. now owns 3,194,419 shares of the technology company's stock valued at $234,886,000 after acquiring an additional 494,083 shares in the last quarter. Hyperion Asset Management Ltd lifted its position in Block by 6.9% in the 2nd quarter. Hyperion Asset Management Ltd now owns 2,682,854 shares of the technology company's stock valued at $203,897,000 after acquiring an additional 172,848 shares in the last quarter. Arrowstreet Capital Limited Partnership boosted its stake in Block by 528.2% during the 1st quarter. Arrowstreet Capital Limited Partnership now owns 3,309,296 shares of the technology company's stock valued at $199,153,000 after purchasing an additional 2,782,523 shares during the last quarter. Finally, Dimensional Fund Advisors LP boosted its stake in Block by 1.3% during the 1st quarter. Dimensional Fund Advisors LP now owns 3,147,988 shares of the technology company's stock valued at $189,353,000 after purchasing an additional 39,112 shares during the last quarter. Institutional investors own 70.44% of the company's stock.
Wall Street Analysts Forecast Growth
XYZ has been the topic of several research reports. Wolfe Research lifted their price target on Block from $100.00 to $115.00 and gave the company an "outperform" rating in a research report on Tuesday, August 25th. Zacks Research downgraded Block from a "strong-buy" rating to a "hold" rating in a report on Thursday, July 30th. Scotiabank increased their price objective on Block from $82.00 to $89.00 and gave the stock a "sector perform" rating in a report on Wednesday, November 4th. UBS Group raised their price objective on Block from $96.00 to $105.00 in a research report on Tuesday, November 3rd. Finally, Barclays raised their price objective on Block from $100.00 to $105.00 and gave the company an "overweight" rating in a research report on Thursday, November 5th. Two equities research analysts have rated the stock with a Strong Buy rating, thirty-four have given a Buy rating, ten have assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price of $100.32.
View Our Latest Stock Report on XYZ
Block Company Profile
(
Get Free Report)
Block, Inc. is a financial technology company that provides payment and commerce tools to businesses and financial services for consumers. Its products include Square, a platform offering payment processing, point-of-sale software and related business services, and Cash App, which provides person-to-person payments and other financial features. The company also owns Afterpay, a buy-now, pay-later service, and TIDAL, a music and entertainment platform. Block serves businesses and consumers in the United States and other markets, with product availability varying by country.
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