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 dated Monday, February 24th. The shares were sold at an average price of $68.01, for a total value of $221,236.53. Following the completion of the sale, the insider now owns 548,597 shares of the company’s stock, valued at $37,310,081.97. This trade represents a 0.59 % 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 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 Trading Down 1.4 %

Shares of XYZ opened at $64.36 on Friday. Block, Inc. has a 52 week low of $55.00 and a 52 week high of $99.26. The company has a quick ratio of 2.07, a current ratio of 2.07 and a debt-to-equity ratio of 0.26. The company has a market capitalization of $39.89 billion, a PE ratio of 14.15, a PEG ratio of 0.72 and a beta of 2.53.

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

Wall Street Analysts Forecast Growth

XYZ has been the subject of a number of research analyst reports. Piper Sandler dropped their price objective on Block from $101.00 to $85.00 and set an “overweight” rating for the company in a report on Monday. Citigroup raised their price objective on Block from $90.00 to $108.00 and gave the stock a “buy” rating in a report on Tuesday, January 14th. StockNews.com began coverage on Block in a report on Saturday, February 15th. They set a “hold” rating for the company. Wells Fargo & Company raised their price target on shares of Block from $85.00 to $95.00 and gave the company an “overweight” rating in a report on Thursday, January 16th. Finally, Needham & Company LLC reiterated a “buy” rating and set a $90.00 price objective on shares of Block in a research note on Friday, February 21st. Six investment analysts have rated the stock with a hold rating and twenty-five have given a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $96.31.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of XYZ. SouthState Corp lifted its holdings in Block by 85.3% in the third quarter. SouthState Corp now owns 391 shares of the technology company’s stock worth $26,000 after acquiring an additional 180 shares during the last quarter. True Wealth Design LLC grew its holdings in shares of Block by 64.7% during the third quarter. True Wealth Design LLC now owns 494 shares of the technology company’s stock valued at $33,000 after purchasing an additional 194 shares during the last quarter. Versant Capital Management Inc lifted its holdings in shares of Block by 67.7% in the 4th quarter. Versant Capital Management Inc now owns 394 shares of the technology company’s stock worth $33,000 after purchasing an additional 159 shares during the last quarter. MassMutual Private Wealth & Trust FSB lifted its holdings in shares of Block by 48.2% in the 4th 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 last quarter. Finally, Morton Brown Family Wealth LLC acquired a new position in Block during the 3rd quarter valued at approximately $67,000. 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.