Insider Selling: Block (NYSE:XYZ) Insider Sells $517,450.00 in Stock

Block, Inc. (NYSE:XYZ) insider Brian Grassadonia sold 10,349 shares of the stock in a transaction that occurred on Tuesday, February 24th. The shares were sold at an average price of $50.00, for a total value of $517,450.00. Following the transaction, the insider directly owned 503,784 shares of the company’s stock, valued at approximately $25,189,200. The trade was a 2.01% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink.

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

• On Tuesday, January 6th, Brian Grassadonia sold 1,983 shares of Block stock. The stock was sold at an average price of $68.52, for a total value of $135,875.16.
• On Friday, January 2nd, Brian Grassadonia sold 1,038 shares of Block stock. The stock was sold at an average price of $63.98, for a total value of $66,411.24.

Block Stock Up 5.0%

NYSE XYZ opened at $54.54 on Friday. The stock has a 50 day moving average price of $61.30 and a 200-day moving average price of $68.28. Block, Inc. has a one year low of $44.27 and a one year high of $82.50. The company has a debt-to-equity ratio of 0.25, a quick ratio of 2.18 and a current ratio of 2.18. The company has a market capitalization of $33.14 billion, a P/E ratio of 11.00, a P/E/G ratio of 1.07 and a beta of 2.67.

Block (NYSE:XYZ) last announced its quarterly earnings results on Thursday, February 26th. The technology company reported $0.65 earnings per share for the quarter, topping the consensus estimate of $0.26 by $0.39. The company had revenue of $6.25 billion for the quarter. Block had a net margin of 12.99% and a return on equity of 5.54%. The company’s revenue for the quarter was up 3.6% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.71 EPS. As a group, equities analysts predict that Block, Inc. will post 2.54 EPS for the current fiscal year.

Institutional Investors Weigh In On Block

A number of institutional investors and hedge funds have recently modified their holdings of the business. D.A. Davidson & CO. purchased a new stake in Block in the second quarter worth $1,068,000. Asset Management One Co. Ltd. bought a new position in shares of Block in the second quarter worth about $14,850,000. AlphaQuest LLC bought a new position in shares of Block in the second quarter worth about $207,000. Brighton Jones LLC purchased a new position in Block in the 2nd quarter worth about $319,000. Finally, Wealthfront Advisers LLC bought a new stake in Block during the 2nd quarter valued at about $3,052,000. 70.44% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

XYZ has been the topic of several analyst reports. Cantor Fitzgerald reduced their price objective on Block from $87.00 to $70.00 and set an “overweight” rating on the stock in a research note on Tuesday, February 17th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Block in a research note on Monday, December 29th. Bank of America boosted their target price on Block from $86.00 to $88.00 and gave the company a “buy” rating in a research report on Friday, November 21st. Mizuho increased their price target on Block from $88.00 to $100.00 and gave the company an “outperform” rating in a report on Thursday, November 20th. Finally, Truist Financial set a $72.00 price objective on shares of Block in a research note on Tuesday, January 20th. Two investment analysts have rated the stock with a Strong Buy rating, twenty-three have given a Buy rating, nine have assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $81.50.

Block Company Profile

Block (NYSE:XYZ) is a financial technology company that builds products and services to facilitate electronic payments, commerce, and consumer finance. Its principal business lines include a seller-focused ecosystem that provides point-of-sale hardware and software, payment processing, invoicing, payroll and lending services, and a consumer-facing platform that offers peer-to-peer payments, banking-like features, and investing. Block’s portfolio also encompasses music streaming and buy-now-pay-later capabilities through businesses acquired to broaden its reach beyond core payments.

The company was founded as Square in 2009 by Jack Dorsey and Jim McKelvey and later rebranded to Block to reflect a diversified set of businesses across payments, consumer finance, and emerging technologies.