Block, Inc. (NYSE:XYZ) Insider Brian Grassadonia Sells 4,520 Shares

Block, Inc. (NYSE:XYZ) insider Brian Grassadonia sold 4,520 shares of the stock in a transaction on Friday, February 21st. The stock was sold at an average price of $70.32, for a total value of $317,846.40. Following the completion of the transaction, 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 transaction was disclosed in a filing with the SEC, which is available at the SEC website.

Brian Grassadonia also recently made the following trade(s):

• On Monday, February 24th, Brian Grassadonia sold 3,253 shares of Block stock. The stock was sold at an average price of $68.01, for a total transaction of $221,236.53.

Block Trading Down 4.5 %

Shares of NYSE:XYZ traded down $2.99 during midday trading on Tuesday, hitting $62.93. The company’s stock had a trading volume of 18,768,939 shares, compared to its average volume of 7,432,469. The company has a debt-to-equity ratio of 0.26, a quick ratio of 2.07 and a current ratio of 2.07. The company has a market cap of $39.00 billion, a P/E ratio of 13.83, a P/E/G ratio of 0.72 and a beta of 2.53. Block, Inc. has a fifty-two week low of $55.00 and a fifty-two week high of $99.26.

Block (NYSE:XYZ) last announced its quarterly earnings data 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 return on equity of 5.80% and a net margin of 11.92%. The company had revenue of $6.03 billion during the quarter, compared to analyst estimates of $6.23 billion. Equities research analysts predict that Block, Inc. will post 2.54 earnings per share for the current year.

Institutional Investors Weigh In On Block

Institutional investors have recently added to or reduced their stakes in the company. SouthState Corp raised its holdings in Block by 85.3% in the 3rd quarter. SouthState Corp now owns 391 shares of the technology company’s stock valued at $26,000 after acquiring an additional 180 shares in the last quarter. True Wealth Design LLC increased its holdings in Block by 64.7% in the 3rd quarter. True Wealth Design LLC now owns 494 shares of the technology company’s stock valued at $33,000 after buying an additional 194 shares during the period. Versant Capital Management Inc raised its position in Block by 67.7% in the fourth quarter. Versant Capital Management Inc now owns 394 shares of the technology company’s stock worth $33,000 after purchasing an additional 159 shares in the last quarter. MassMutual Private Wealth & Trust FSB lifted its stake in Block by 48.2% during the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 418 shares of the technology company’s stock worth $36,000 after purchasing an additional 136 shares during the period. Finally, Morton Brown Family Wealth LLC acquired a new stake in Block during the third quarter valued at approximately $67,000. 70.44% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research analysts recently commented on XYZ shares. Keefe, Bruyette & Woods lowered their price objective on shares of Block from $100.00 to $87.00 and set a “market perform” rating on the stock in a research note on Friday. Macquarie raised their price objective on shares of Block from $100.00 to $110.00 and gave the company an “outperform” rating in a research report on Tuesday, December 10th. UBS Group dropped their target price on shares of Block from $98.00 to $97.00 and set a “buy” rating on the stock in a report on Friday. Barclays reduced their target price on shares of Block from $112.00 to $97.00 and set an “overweight” rating for the company in a report on Monday. Finally, Royal Bank of Canada reaffirmed an “outperform” rating and issued a $110.00 price target on shares of Block in a report on Thursday, February 20th. Six equities research analysts have rated the stock with a hold rating and twenty-five have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $96.31.

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.