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

Block, Inc. (NYSE:XYZ) insider Brian Grassadonia sold 4,520 shares of Block stock in a transaction dated Friday, February 21st. The shares were sold at an average price of $70.32, for a total value of $317,846.40. Following the completion of the sale, the insider now owns 551,850 shares of the company’s stock, valued at $38,806,092. This trade represents a 0.81 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink.

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

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

Block Stock Down 4.5 %

Shares of XYZ opened at $62.93 on Wednesday. Block, Inc. has a 52-week low of $55.00 and a 52-week high of $99.26. 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 company has a market capitalization 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 issued its quarterly earnings results 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). Block had a net margin of 11.92% and a return on equity of 5.80%. The firm had revenue of $6.03 billion during the quarter, compared to the consensus estimate of $6.23 billion. Equities analysts forecast that Block, Inc. will post 2.54 EPS for the current year.

Analyst Upgrades and Downgrades

Several analysts have commented on XYZ shares. Oppenheimer upgraded Block from a “market perform” rating to an “outperform” rating and set a $115.00 price target for the company in a report on Thursday, December 19th. Morgan Stanley raised Block from an “underweight” rating to an “equal weight” rating and set a $65.00 price objective on the stock in a research note on Tuesday. Barclays reduced their price objective on Block from $112.00 to $97.00 and set an “overweight” rating on the stock in a research note on Monday. UBS Group reduced their price objective on Block from $98.00 to $97.00 and set a “buy” rating on the stock in a research note on Friday, February 21st. Finally, BNP Paribas lowered Block from an “outperform” rating to a “neutral” rating and set a $88.00 price objective on the stock. in a research note on Wednesday, November 20th. Six research analysts have rated the stock with a hold rating and twenty-five have assigned a buy rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $96.31.

Institutional Investors Weigh In On Block

Institutional investors have recently made changes to their positions in the company. Swiss National Bank increased its holdings in shares of Block by 0.5% in the 3rd quarter. Swiss National Bank now owns 1,651,886 shares of the technology company’s stock valued at $110,891,000 after acquiring an additional 8,200 shares during the last quarter. National Pension Service increased its holdings in shares of Block by 13.5% in the 3rd quarter. National Pension Service now owns 1,083,113 shares of the technology company’s stock valued at $72,709,000 after acquiring an additional 128,832 shares during the last quarter. Diversify Advisory Services LLC bought a new stake in shares of Block in the 4th quarter valued at approximately $1,315,000. Baillie Gifford & Co. grew its stake in Block by 1.5% during the 3rd quarter. Baillie Gifford & Co. now owns 10,233,102 shares of the technology company’s stock worth $686,948,000 after buying an additional 147,873 shares during the last quarter. Finally, Perpetual Ltd bought a new position in Block during the 4th quarter worth $10,779,000. 70.44% of the stock is currently owned by institutional investors.

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.