Block (NYSE:XYZ) Sets New 1-Year Low on Insider Selling

Block, Inc. (NYSE:XYZ) shares hit a new 52-week low during mid-day trading on Monday following insider selling activity. The stock traded as low as $47.60 and last traded at $47.60, with a volume of 137332 shares trading hands. The stock had previously closed at $50.26.

Specifically, CFO Amrita Ahuja sold 1,976 shares of the stock in a transaction that occurred on Wednesday, April 2nd. The shares were sold at an average price of $56.19, for a total value of $111,031.44. Following the completion of the sale, the chief financial officer now owns 233,878 shares of the company’s stock, valued at $13,141,604.82. This represents a 0.84 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, insider Owen Britton Jennings sold 1,263 shares of the company’s stock in a transaction on Wednesday, April 2nd. The shares were sold at an average price of $56.19, for a total value of $70,967.97. Following the completion of the transaction, the insider now directly owns 181,904 shares in the company, valued at approximately $10,221,185.76. This trade represents a 0.69 % decrease in their position. The disclosure for this sale can be found here. In other Block news, CAO Ajmere Dale sold 500 shares of the stock in a transaction dated Tuesday, April 1st. The shares were sold at an average price of $54.48, for a total transaction of $27,240.00. Following the completion of the transaction, the chief accounting officer now owns 81,999 shares of the company’s stock, valued at $4,467,305.52. This trade represents a 0.61 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on XYZ shares. Barclays cut their price objective on Block from $112.00 to $97.00 and set an “overweight” rating on the stock in a report on Monday, February 24th. Canaccord Genuity Group reduced their price target on shares of Block from $120.00 to $100.00 and set a “buy” rating on the stock in a research report on Friday, February 21st. Sanford C. Bernstein set a $100.00 price objective on shares of Block in a research note on Saturday, March 8th. Macquarie reaffirmed an “outperform” rating and set a $110.00 target price on shares of Block in a research note on Thursday, March 6th. Finally, StockNews.com assumed coverage on shares of Block in a research report on Saturday, February 15th. They issued a “hold” rating for the company. Three equities research analysts have rated the stock with a hold rating and twenty-seven have assigned a buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $94.46.

Block Stock Up 0.4 %

The company has a quick ratio of 2.07, a current ratio of 2.07 and a debt-to-equity ratio of 0.26. The stock’s 50 day moving average is $68.83. The company has a market cap of $31.27 billion, a P/E ratio of 11.09, a price-to-earnings-growth ratio of 0.72 and a beta of 2.77.

Block (NYSE:XYZ) last announced its quarterly earnings results on Thursday, February 20th. The technology company reported $0.26 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.37 by ($0.11). Block had a net margin of 11.92% and a return on equity of 5.80%. The firm had revenue of $6.03 billion for the quarter, compared to analyst estimates of $6.23 billion. As a group, analysts forecast that Block, Inc. will post 2.54 EPS for the current year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the company. Versant Capital Management Inc boosted its position in shares of Block by 67.7% during the fourth quarter. Versant Capital Management Inc now owns 394 shares of the technology company’s stock worth $33,000 after buying an additional 159 shares during the period. MassMutual Private Wealth & Trust FSB boosted its position in Block by 48.2% during the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 418 shares of the technology company’s stock worth $36,000 after acquiring an additional 136 shares during the period. Rosenberg Matthew Hamilton grew its stake in shares of Block by 18.3% in the fourth quarter. Rosenberg Matthew Hamilton now owns 982 shares of the technology company’s stock worth $83,000 after purchasing an additional 152 shares in the last quarter. TD Private Client Wealth LLC increased its holdings in shares of Block by 15.8% during the third quarter. TD Private Client Wealth LLC now owns 2,066 shares of the technology company’s stock valued at $139,000 after purchasing an additional 282 shares during the period. Finally, Ulland Investment Advisors LLC raised its stake in shares of Block by 92.3% during the fourth quarter. Ulland Investment Advisors LLC now owns 2,135 shares of the technology company’s stock valued at $181,000 after purchasing an additional 1,025 shares in the last quarter. Institutional investors own 70.44% of the company’s stock.

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.