Block (NYSE:XYZ) Insider Sells $128,762.51 in Stock

Block, Inc. (NYSE:XYZ) insider Brian Grassadonia sold 1,679 shares of the business’s stock in a transaction that occurred on Friday, October 3rd. The shares were sold at an average price of $76.69, for a total value of $128,762.51. Following the completion of the transaction, the insider owned 571,041 shares of the company’s stock, valued at $43,793,134.29. This represents a 0.29% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this link.

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

• On Thursday, October 2nd, Brian Grassadonia sold 1,342 shares of Block stock. The stock was sold at an average price of $74.77, for a total value of $100,341.34.
• On Tuesday, September 2nd, Brian Grassadonia sold 9,760 shares of Block stock. The stock was sold at an average price of $76.24, for a total value of $744,102.40.
• On Thursday, August 21st, Brian Grassadonia sold 6,465 shares of Block stock. The stock was sold at an average price of $73.20, for a total value of $473,238.00.

Block Trading Up 2.6%

NYSE:XYZ opened at $81.11 on Thursday. Block, Inc. has a twelve month low of $44.27 and a twelve month high of $99.26. The company has a quick ratio of 1.96, a current ratio of 1.96 and a debt-to-equity ratio of 0.16. The business has a 50 day moving average price of $76.14 and a two-hundred day moving average price of $66.50. The company has a market cap of $49.44 billion, a P/E ratio of 17.37, a price-to-earnings-growth ratio of 3.19 and a beta of 2.71.

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

Wall Street Analyst Weigh In

XYZ has been the topic of a number of research analyst reports. Oppenheimer increased their price target on Block from $70.00 to $71.00 and gave the company an “outperform” rating in a research note on Wednesday, July 2nd. Cowen restated a “buy” rating on shares of Block in a research note on Friday, August 8th. Morgan Stanley increased their price target on Block from $73.00 to $77.00 and gave the company an “equal weight” rating in a research note on Monday, August 11th. BNP Paribas Exane cut Block from an “outperform” rating to a “neutral” rating and set a $86.00 price target on the stock. in a research note on Tuesday, September 2nd. Finally, Evercore ISI increased their price target on Block from $75.00 to $85.00 and gave the company an “outperform” rating in a research note on Thursday, July 17th. Twenty-four analysts have rated the stock with a Buy rating, ten have issued a Hold rating and three have issued a Sell rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $80.64.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in the company. Nemes Rush Group LLC bought a new position in Block during the 2nd quarter worth $26,000. Traub Capital Management LLC acquired a new stake in shares of Block during the 2nd quarter worth $26,000. SouthState Corp acquired a new stake in shares of Block during the 2nd quarter worth $29,000. First Horizon Advisors Inc. acquired a new stake in shares of Block during the 2nd quarter worth $30,000. Finally, Comprehensive Financial Planning Inc. PA acquired a new stake in shares of Block during the 2nd quarter worth $31,000. Institutional investors own 70.44% of the company’s stock.

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.