Brian Grassadonia Sells 3,253 Shares of Block, Inc. (NYSE:XYZ) Stock

Block, Inc. (NYSE:XYZ) insider Brian Grassadonia sold 3,253 shares of the company’s stock in a transaction dated Monday, February 24th. The stock was sold at an average price of $68.01, for a total transaction of $221,236.53. Following the completion of the transaction, the insider now owns 548,597 shares of the company’s stock, valued at approximately $37,310,081.97. This trade represents a 0.59 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link.

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 value of $317,846.40.

Block Stock Down 1.4 %

XYZ stock opened at $64.36 on Friday. Block, Inc. has a one year low of $55.00 and a one year high of $99.26. The stock has a market cap of $39.89 billion, a price-to-earnings ratio of 14.15, a PEG ratio of 0.72 and a beta of 2.53. The company has a quick ratio of 2.07, a current ratio of 2.07 and a debt-to-equity ratio of 0.26.

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

Analyst Ratings Changes

Several brokerages have weighed in on XYZ. Needham & Company LLC reaffirmed a “buy” rating and set a $90.00 target price on shares of Block in a research note on Friday, February 21st. Macquarie lifted their price objective on shares of Block from $100.00 to $110.00 and gave the company an “outperform” rating in a research note on Tuesday, December 10th. Morgan Stanley upgraded shares of Block from an “underweight” rating to an “equal weight” rating and set a $65.00 target price for the company in a research report on Tuesday. Keefe, Bruyette & Woods dropped their price target on shares of Block from $100.00 to $87.00 and set a “market perform” rating on the stock in a research report on Friday, February 21st. Finally, Raymond James reduced their price target on shares of Block from $115.00 to $103.00 and set an “outperform” rating for the company in a research note on Friday, February 21st. Six equities research analysts have rated the stock with a hold rating and twenty-five have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $96.31.

Institutional Trading of Block

Hedge funds have recently modified their holdings of the business. SouthState Corp grew its holdings in shares of Block by 85.3% during the third quarter. SouthState Corp now owns 391 shares of the technology company’s stock valued at $26,000 after buying an additional 180 shares in the last quarter. True Wealth Design LLC boosted its position in Block by 64.7% during the 3rd quarter. True Wealth Design LLC now owns 494 shares of the technology company’s stock worth $33,000 after acquiring an additional 194 shares during the period. Versant Capital Management Inc grew its stake in Block by 67.7% during the 4th quarter. Versant Capital Management Inc now owns 394 shares of the technology company’s stock valued at $33,000 after acquiring an additional 159 shares in the last quarter. MassMutual Private Wealth & Trust FSB increased 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 valued at $36,000 after purchasing an additional 136 shares during the period. Finally, Morton Brown Family Wealth LLC acquired a new position in shares of Block in the 3rd quarter valued at about $67,000. Hedge funds and other institutional investors own 70.44% of the company’s stock.

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.