Block Sees Unusually High Options Volume (NYSE:XYZ)

Block, Inc. (NYSE:XYZ) experienced unusual options trading with 74,566 call options acquired, a 33% increase from the average. Analysts have mixed ratings, with a consensus price target of $83.42. The stock fell 6.6% to $60.07, with a market cap of $36.50 billion. Recent insider sales and institutional investments were noted. Block's quarterly earnings exceeded expectations, reporting $0.54 EPS and $6.11 billion revenue.

Block, Inc. (NYSE:XYZ - Get Free Report) was the target of some unusual options trading on Tuesday. Traders purchased 74,566 call options on the stock. This represents an increase of approximately 33% compared to the average volume of 56,085 call options.

Wall Street Analyst Weigh In

Hims, Block, and NRG Just Launched Huge Stock Buybacks

XYZ has been the topic of a number of analyst reports. The Goldman Sachs Group cut their price target on Block from $96.00 to $82.00 and set a "buy" rating on the stock in a research note on Friday, November 7th. Needham & Company LLC reissued a "buy" rating and issued a $80.00 target price on shares of Block in a research note on Monday, November 24th. BTIG Research restated a "buy" rating and set a $90.00 target price on shares of Block in a report on Thursday, November 20th. Macquarie upped their price target on Block from $50.00 to $67.00 and gave the company a "neutral" rating in a research note on Tuesday, August 12th. Finally, BNP Paribas cut shares of Block from a "strong-buy" rating to a "hold" rating and set a $86.00 price objective for the company. in a report on Tuesday, September 2nd. Three equities research 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 given a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $83.42.

Read Our Latest Research Report on XYZ

Block Stock Down 6.6%

Block Levels Up: What S&P 500 Inclusion Means for Investors

Shares of XYZ traded down $4.28 during midday trading on Tuesday, hitting $60.07. The stock had a trading volume of 20,634,413 shares, compared to its average volume of 9,082,720. The firm has a market cap of $36.50 billion, a price-to-earnings ratio of 12.11, a price-to-earnings-growth ratio of 2.65 and a beta of 2.66. The company has a 50 day simple moving average of $71.75 and a two-hundred day simple moving average of $70.99. Block has a twelve month low of $44.27 and a twelve month high of $99.26. The company has a debt-to-equity ratio of 0.25, a current ratio of 2.18 and a quick ratio of 2.18.

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

Insider Transactions at Block

Snag These 3 Bargain Tech Stocks Before They Pop

In other Block news, CAO Ajmere Dale sold 2,724 shares of the company's stock in a transaction dated Friday, November 21st. The shares were sold at an average price of $61.40, for a total transaction of $167,253.60. Following the transaction, the chief accounting officer directly owned 99,585 shares in the company, valued at approximately $6,114,519. This represents a 2.66% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Owen Britton Jennings sold 10,417 shares of Block stock in a transaction that occurred on Friday, November 21st. The stock was sold at an average price of $61.40, for a total transaction of $639,603.80. Following the sale, the insider owned 243,540 shares of the company's stock, valued at approximately $14,953,356. This represents a 4.10% decrease in their position. The SEC filing for this sale provides additional information. Over the last 90 days, insiders sold 99,198 shares of company stock valued at $6,968,155. 10.49% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in XYZ. Vanguard Group Inc. acquired a new stake in Block in the 2nd quarter valued at $3,730,489,000. Sands Capital Management LLC bought a new position in shares of Block in the 2nd quarter valued at about $702,446,000. Geode Capital Management LLC acquired a new stake in shares of Block in the second quarter valued at about $634,721,000. Dragoneer Investment Group LLC bought a new stake in Block during the second quarter worth about $627,233,000. Finally, Ameriprise Financial Inc. bought a new stake in Block during the second quarter worth about $535,305,000. Institutional investors and hedge funds own 70.44% of the company's stock.

Block Company Profile

(Get Free Report)

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.

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