Block (NYSE:XYZ) Insider Sells $396,644.00 in Stock

Block, Inc. (NYSE:XYZ) insider Brian Grassadonia sold 6,460 shares of the business’s stock in a transaction that occurred on Friday, November 21st. The stock was sold at an average price of $61.40, for a total transaction of $396,644.00. Following the completion of the transaction, the insider owned 529,437 shares in the company, valued at $32,507,431.80. This trade represents a 1.21% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website.

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

• On Monday, November 24th, Brian Grassadonia sold 8,085 shares of Block stock. The stock was sold at an average price of $61.96, for a total transaction of $500,946.60.
• On Wednesday, October 8th, Brian Grassadonia sold 35,145 shares of Block stock. The shares were sold at an average price of $80.00, for a total transaction of $2,811,600.00.
• On Friday, October 3rd, Brian Grassadonia sold 1,679 shares of Block stock. The shares were sold at an average price of $76.69, for a total transaction of $128,762.51.
• 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 shares were sold at an average price of $76.24, for a total value of $744,102.40.

Block Trading Up 2.9%

Shares of Block stock traded up $1.78 on Tuesday, hitting $63.64. 7,216,840 shares of the company’s stock traded hands, compared to its average volume of 9,071,260. The company has a fifty day moving average of $72.91 and a two-hundred day moving average of $70.66. Block, Inc. has a one year low of $44.27 and a one year high of $99.26. The company has a market capitalization of $38.67 billion, a price-to-earnings ratio of 12.83, a price-to-earnings-growth ratio of 3.47 and a beta of 2.73. The company has a debt-to-equity ratio of 0.25, a current ratio of 2.18 and a quick ratio of 2.18.

Block (NYSE:XYZ) last issued its quarterly earnings results on Thursday, November 6th. The technology company reported $0.54 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.25 by $0.29. Block had a return on equity of 5.54% and a net margin of 12.99%.The firm had revenue of $6.11 billion for the quarter. During the same period last year, the firm posted $0.53 earnings per share. Block’s quarterly revenue was up 2.3% compared to the same quarter last year. As a group, sell-side analysts expect that Block, Inc. will post 2.54 earnings per share for the current year.

Analyst Ratings Changes

A number of brokerages recently commented on XYZ. BTIG Research reaffirmed a “buy” rating and issued a $90.00 target price on shares of Block in a research report on Thursday, November 20th. Macquarie boosted their price objective on Block from $50.00 to $67.00 and gave the company a “neutral” rating in a report on Tuesday, August 12th. BNP Paribas Exane lowered Block from an “outperform” rating to a “neutral” rating and set a $86.00 target price on the stock. in a research report on Tuesday, September 2nd. The Goldman Sachs Group cut their target price on Block from $96.00 to $82.00 and set a “buy” rating on the stock in a report on Friday, November 7th. Finally, Canaccord Genuity Group restated a “buy” rating and set a $80.00 price target on shares of Block in a research note on Tuesday, September 23rd. Three equities research analysts have rated the stock with a Strong Buy rating, twenty-one have issued a Buy rating, twelve have given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $83.42.

Hedge Funds Weigh In On Block

Several large investors have recently bought and sold shares of the stock. Cromwell Holdings LLC purchased a new position in Block during the 3rd quarter worth $27,000. City Holding Co. bought a new position in shares of Block during the third quarter valued at about $27,000. Nemes Rush Group LLC purchased a new position in Block during the second quarter worth about $26,000. Cary Street Partners Investment Advisory LLC purchased a new position in shares of Block in the 3rd quarter worth approximately $28,000. Finally, Traub Capital Management LLC purchased a new stake in shares of Block during the second quarter valued at approximately $26,000. 70.44% of the stock is currently owned by institutional investors.

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.