Block (NYSE:XYZ) Insider Brian Grassadonia Sells 6,465 Shares

Block, Inc. (NYSE:XYZ) insider Brian Grassadonia sold 6,465 shares of Block stock in a transaction that occurred on Thursday, August 21st. The shares were sold at an average price of $73.20, for a total value of $473,238.00. Following the sale, the insider directly owned 583,822 shares in the company, valued at approximately $42,735,770.40. The trade was a 1.10% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink.

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

• On Wednesday, July 2nd, Brian Grassadonia sold 1,342 shares of Block stock. The shares were sold at an average price of $69.26, for a total value of $92,946.92.

Block Stock Performance

Block stock opened at $79.53 on Thursday. The stock’s 50 day simple moving average is $72.77 and its two-hundred day simple moving average is $64.72. The company has a debt-to-equity ratio of 0.16, a quick ratio of 1.96 and a current ratio of 1.96. The stock has a market cap of $48.48 billion, a price-to-earnings ratio of 17.03, a PEG ratio of 3.19 and a beta of 2.71. Block, Inc. has a fifty-two week low of $44.27 and a fifty-two week high of $99.26.

Block (NYSE:XYZ) last announced its earnings results on Thursday, August 7th. The technology company reported $0.62 earnings per share for the quarter, beating analysts’ consensus estimates of $0.21 by $0.41. Block had a net margin of 12.32% and a return on equity of 7.85%. The business had revenue of $6.05 billion during the quarter, compared to the consensus estimate of $6.32 billion. The company’s quarterly revenue was down 1.6% compared to the same quarter last year. As a group, analysts expect that Block, Inc. will post 2.54 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Block

A number of institutional investors have recently made changes to their positions in XYZ. Traub Capital Management LLC purchased a new stake in shares of Block during the second quarter valued at approximately $26,000. Nemes Rush Group LLC purchased a new stake in Block in the second quarter worth approximately $26,000. SouthState Corp purchased a new stake in Block in the second quarter worth approximately $29,000. First Horizon Advisors Inc. purchased a new stake in Block in the second quarter worth approximately $30,000. Finally, Comprehensive Financial Planning Inc. PA purchased a new stake in Block in the second quarter worth approximately $31,000. Hedge funds and other institutional investors own 70.44% of the company’s stock.

Analyst Upgrades and Downgrades

XYZ has been the subject of a number of analyst reports. Keefe, Bruyette & Woods raised their target price on shares of Block from $80.00 to $95.00 and gave the company an “outperform” rating in a research note on Friday, August 8th. Macquarie raised their target price on shares of Block from $50.00 to $67.00 and gave the company a “neutral” rating in a research note on Tuesday, August 12th. Mizuho raised their target price on shares of Block from $71.00 to $88.00 and gave the company an “outperform” rating in a research note on Thursday, August 14th. Seaport Res Ptn downgraded shares of Block from a “strong-buy” rating to a “hold” rating in a research note on Friday, May 2nd. Finally, Wall Street Zen raised shares of Block from a “sell” rating to a “hold” rating in a research note on Saturday, July 5th. One analyst has rated the stock with a Strong Buy rating, twenty-five have given a Buy rating, eight have issued a Hold rating and three have given a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $79.97.

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.