What the bad jobs report means for markets
Jennings Owen Britton, the Business Lead at Block, Inc. (NYSE:XYZ), recently sold a portion of his holdings in the company. According to a filing with the Securities and Exchange Commission, Britton sold 1,263 shares of Block’s Class A common stock on April 2, 2025. The shares were sold at a price of $56.19 each, amounting to a total transaction value of $70,967. The sale occurred amid significant price volatility, with the stock currently trading near its 52-week low of $52.25 and showing a year-to-date decline of 36.5%. InvestingPro analysis suggests the stock is currently undervalued.
Following this sale, Britton retains ownership of 181,904 shares in Block. It’s noteworthy that the sale was conducted to meet the company’s income tax withholding obligations related to the vesting of restricted stock units. Despite recent price weakness, Block maintains strong fundamentals with a healthy current ratio of 2.33 and a market capitalization of approximately $31 billion.
Block, Inc., formerly known as Square, Inc., is a prominent player in the prepackaged software services industry. The company, incorporated in Delaware, operates out of its headquarters in Oakland, California. With a robust revenue growth of 10% in the last twelve months and positive earnings of $4.56 per share, Block demonstrates solid operational performance. For deeper insights into Block’s financial health and growth prospects, access the comprehensive Pro Research Report available on InvestingPro, which covers over 1,400 top US stocks.
In other recent news, Block Inc. has been the focus of multiple analyst updates and strategic decisions. Bernstein analysts have adjusted their price target for Block from $100 to $85, maintaining an Outperform rating, while highlighting potential growth in Gross Payment Volume and EBITDA due to efficiency improvements. CLSA upgraded Block to a High-Conviction Outperform, citing early signs of success in growth initiatives and a strong value proposition during economic challenges, maintaining a price target of $112. BMO Capital Markets has kept its Outperform rating with a price target of $89, noting that recent layoffs could lead to significant cost savings and potentially boost Block’s adjusted operating income by more than 10% in 2025.
Keefe, Bruyette & Woods also maintained their Outperform rating with an $80 price target, emphasizing the potential benefits of the company’s strategic workforce reductions on sales and marketing efforts. KeyBanc Capital Markets has lowered its price target for Block to $85, maintaining an Overweight rating, due to a softer revenue outlook for small and medium-sized businesses and a decline in peer group multiples. The company’s decision to lay off 931 employees has been a key focus, with analysts suggesting these measures could enhance investment flexibility and operational efficiency. Despite these changes, analysts remain optimistic about Block’s potential for growth, driven by strategic initiatives and market positioning.
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