Block, Inc. (NYSE:XYZ) Insider Sells $221,236.53 in Stock

Block, Inc. (NYSE:XYZ) insider Brian Grassadonia sold 3,253 shares of Block stock in a transaction on Monday, February 24th. The stock was sold at an average price of $68.01, for a total value of $221,236.53. Following the transaction, the insider now owns 548,597 shares in the company, valued at approximately $37,310,081.97. This represents a 0.59 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.

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

• On Friday, February 21st, Brian Grassadonia sold 4,520 shares of Block stock. The stock was sold at an average price of $70.32, for a total transaction of $317,846.40.

Block Stock Down 4.5 %

NYSE:XYZ traded down $2.99 during mid-day trading on Tuesday, hitting $62.93. The stock had a trading volume of 18,768,939 shares, compared to its average volume of 7,432,469. The company has a quick ratio of 2.07, a current ratio of 2.07 and a debt-to-equity ratio of 0.26. Block, Inc. has a twelve month low of $55.00 and a twelve month high of $99.26. The stock has a market cap of $39.00 billion, a price-to-earnings ratio of 13.83, a price-to-earnings-growth ratio of 0.72 and a beta of 2.53.

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

Wall Street Analyst Weigh In

Several research firms have recently weighed in on XYZ. Sanford C. Bernstein increased their price target on shares of Block from $90.00 to $120.00 and gave the company an “outperform” rating in a research note on Monday, December 2nd. Needham & Company LLC reiterated a “buy” rating and issued a $90.00 price objective on shares of Block in a research report on Friday. Macquarie lifted their target price on Block from $100.00 to $110.00 and gave the company an “outperform” rating in a research report on Tuesday, December 10th. Piper Sandler lowered their price target on Block from $101.00 to $85.00 and set an “overweight” rating for the company in a report on Monday. Finally, Keefe, Bruyette & Woods reduced their price objective on shares of Block from $100.00 to $87.00 and set a “market perform” rating on the stock in a report on Friday. Six investment analysts have rated the stock with a hold rating and twenty-five have given a buy rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $96.31.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the business. SouthState Corp raised its position in shares of Block by 85.3% during the 3rd quarter. SouthState Corp now owns 391 shares of the technology company’s stock worth $26,000 after acquiring an additional 180 shares in the last quarter. Versant Capital Management Inc increased its stake in Block by 67.7% in the fourth quarter. Versant Capital Management Inc now owns 394 shares of the technology company’s stock valued at $33,000 after purchasing an additional 159 shares during the last quarter. MassMutual Private Wealth & Trust FSB raised its holdings 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 in the last quarter. True Wealth Design LLC lifted its position in shares of Block by 64.7% during the 3rd quarter. True Wealth Design LLC now owns 494 shares of the technology company’s stock worth $33,000 after buying an additional 194 shares during the last quarter. Finally, Rosenberg Matthew Hamilton lifted its position in shares of Block by 18.3% during the 4th quarter. Rosenberg Matthew Hamilton now owns 982 shares of the technology company’s stock worth $83,000 after buying an additional 152 shares during the last quarter. 70.44% of the stock is owned by institutional investors and hedge funds.

About Block

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.