Block (NYSE:XYZ) Stock Price Passes Below Fifty Day Moving Average – What’s Next?

Block, Inc. (NYSE:XYZ)’s share price passed below its fifty day moving average during trading on Tuesday . The stock has a fifty day moving average of $71.78 and traded as low as $61.21. Block shares last traded at $61.38, with a volume of 7,356,756 shares traded.

Analyst Ratings Changes

XYZ has been the topic of a number of analyst reports. KeyCorp decreased their price objective on shares of Block from $115.00 to $85.00 and set an “overweight” rating on the stock in a research report on Tuesday, March 18th. Needham & Company LLC restated a “buy” rating and set a $90.00 price target on shares of Block in a report on Friday, February 21st. Monness Crespi & Hardt upgraded Block from a “neutral” rating to a “buy” rating and set a $115.00 price objective for the company in a report on Friday, December 13th. BMO Capital Markets raised Block from a “market perform” rating to an “outperform” rating and dropped their price target for the stock from $100.00 to $89.00 in a research note on Monday, February 24th. Finally, StockNews.com started coverage on shares of Block in a research note on Saturday, February 15th. They issued a “hold” rating for the company. Four research analysts have rated the stock with a hold rating and twenty-six have issued a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $95.11.

Block Price Performance

The company has a current ratio of 2.07, a quick ratio of 2.07 and a debt-to-equity ratio of 0.26. The business’s 50-day moving average is $71.39. The company has a market cap of $35.29 billion, a P/E ratio of 12.52, a P/E/G ratio of 0.72 and a beta of 2.78.

Block (NYSE:XYZ) last released its quarterly earnings results on Thursday, February 20th. The technology company reported $0.26 earnings per share 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 the consensus estimate of $6.23 billion. On average, analysts predict that Block, Inc. will post 2.54 EPS for the current year.

Insider Buying and Selling at Block

In other Block news, insider Owen Britton Jennings sold 2,836 shares of the stock in a transaction that occurred on Thursday, January 2nd. The shares were sold at an average price of $89.38, for a total value of $253,481.68. Following the transaction, the insider now directly owns 195,449 shares in the company, valued at approximately $17,469,231.62. This trade represents a 1.43 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Brian Grassadonia sold 4,520 shares of the business’s stock in a transaction on Friday, February 21st. The shares were sold at an average price of $70.32, for a total transaction of $317,846.40. Following the sale, the insider now directly owns 551,850 shares of the company’s stock, valued at approximately $38,806,092. The trade was a 0.81 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 21,967 shares of company stock valued at $1,649,113. 10.49% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in XYZ. Geode Capital Management LLC increased its holdings in Block by 1.6% in the 3rd quarter. Geode Capital Management LLC now owns 8,690,075 shares of the technology company’s stock worth $581,923,000 after acquiring an additional 133,002 shares in the last quarter. Southpoint Capital Advisors LP purchased a new stake in shares of Block in the third quarter worth $114,121,000. Ribbit Management Company LLC raised its position in shares of Block by 9.6% during the 3rd quarter. Ribbit Management Company LLC now owns 1,001,500 shares of the technology company’s stock valued at $67,231,000 after purchasing an additional 88,000 shares during the period. Azora Capital LP lifted its stake in shares of Block by 358.4% during the 3rd quarter. Azora Capital LP now owns 503,402 shares of the technology company’s stock valued at $33,793,000 after buying an additional 393,593 shares in the last quarter. Finally, Bamco Inc. NY lifted its stake in shares of Block by 6.3% during the 3rd quarter. Bamco Inc. NY now owns 457,751 shares of the technology company’s stock valued at $30,729,000 after buying an additional 27,070 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.