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

Block, Inc. (NYSE:XYZ) insider Brian Grassadonia sold 4,520 shares of the company’s stock in a transaction on Friday, February 21st. The stock was sold at an average price of $70.32, for a total value of $317,846.40. Following the transaction, the insider now owns 551,850 shares of the company’s stock, valued at approximately $38,806,092. The trade was a 0.81 % decrease in their ownership of the stock. The sale was disclosed in a legal filing 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 stock was sold at an average price of $68.01, for a total value of $221,236.53.

Block Stock Down 4.5 %

Shares of NYSE XYZ opened at $62.93 on Wednesday. Block, Inc. has a 12 month low of $55.00 and a 12 month high of $99.26. The firm has a market cap of $39.00 billion, a PE ratio of 13.83, a P/E/G ratio of 0.72 and a beta of 2.53. The company has a debt-to-equity ratio of 0.26, a current ratio of 2.07 and a quick ratio of 2.07.

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

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the business. Swiss National Bank raised its position in Block by 0.5% during the third quarter. Swiss National Bank now owns 1,651,886 shares of the technology company’s stock valued at $110,891,000 after buying an additional 8,200 shares during the period. National Pension Service increased its position in Block by 13.5% in the 3rd quarter. National Pension Service now owns 1,083,113 shares of the technology company’s stock worth $72,709,000 after purchasing an additional 128,832 shares during the last quarter. Diversify Advisory Services LLC acquired a new position in Block in the 4th quarter worth about $1,315,000. Baillie Gifford & Co. increased its position in Block by 1.5% in the 3rd quarter. Baillie Gifford & Co. now owns 10,233,102 shares of the technology company’s stock worth $686,948,000 after purchasing an additional 147,873 shares during the last quarter. Finally, Perpetual Ltd acquired a new position in Block in the 4th quarter worth about $10,779,000. 70.44% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on the company. Keefe, Bruyette & Woods reduced their price target on Block from $100.00 to $87.00 and set a “market perform” rating for the company in a research report on Friday, February 21st. Sanford C. Bernstein boosted their price target on Block from $90.00 to $120.00 and gave the stock an “outperform” rating in a research report on Monday, December 2nd. UBS Group reduced their price target on Block from $98.00 to $97.00 and set a “buy” rating for the company in a research report on Friday, February 21st. Piper Sandler reduced their price target on Block from $101.00 to $85.00 and set an “overweight” rating for the company in a research report on Monday. Finally, Oppenheimer upgraded Block from a “market perform” rating to an “outperform” rating and set a $115.00 price target for the company in a research report on Thursday, December 19th. Six analysts have rated the stock with a hold rating and twenty-five have given a buy rating to the company. According to MarketBeat.com, Block currently has a consensus rating of “Moderate Buy” and an average target price of $96.31.

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.