Block (NYSE:XYZ) Insider Sells $673,618.66 in Stock

Block, Inc. (NYSE:XYZ) insider Brian Grassadonia sold 8,173 shares of the stock in a transaction that occurred on Monday, August 24th. The shares were sold at an average price of $82.42, for a total transaction of $673,618.66. Following the sale, the insider directly owned 513,981 shares of the company’s stock, valued at approximately $42,362,314.02. This represents a 1.57% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

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

• On Monday, August 3rd, Brian Grassadonia sold 25,908 shares of Block stock. The stock was sold at an average price of $81.64, for a total transaction of $2,115,129.12.
• On Thursday, July 2nd, Brian Grassadonia sold 43,348 shares of Block stock. The shares were sold at an average price of $80.00, for a total value of $3,467,840.00.

Block Price Performance

Shares of NYSE:XYZ opened at $83.28 on Thursday. The company has a market capitalization of $50.03 billion, a PE ratio of 148.71, a price-to-earnings-growth ratio of 0.92 and a beta of 2.53. The company has a debt-to-equity ratio of 0.26, a quick ratio of 2.21 and a current ratio of 2.21. The stock has a fifty day moving average of $79.26 and a 200-day moving average of $69.79. Block, Inc. has a one year low of $48.21 and a one year high of $86.75.

Block (NYSE:XYZ) last announced its earnings results on Wednesday, August 5th. The technology company reported $1.02 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.48 by $0.54. Block had a return on equity of 8.10% and a net margin of 1.43%.The company had revenue of $6.62 billion for the quarter. During the same period last year, the firm earned $0.62 earnings per share. The firm’s revenue for the quarter was up 9.3% on a year-over-year basis. Block has set its FY 2026 guidance at 4.020-4.020 EPS and its Q3 2026 guidance at 1.020-1.020 EPS. As a group, equities analysts anticipate that Block, Inc. will post 2.69 EPS for the current fiscal year.

Institutional Investors Weigh In On Block

Institutional investors have recently modified their holdings of the stock. Wellington Grp LLC grew its holdings in shares of Block by 68.3% during the 2nd quarter. Wellington Grp LLC now owns 11,159 shares of the technology company’s stock valued at $848,000 after acquiring an additional 4,527 shares in the last quarter. VIRGINIA RETIREMENT SYSTEMS ET Al purchased a new stake in shares of Block during the second quarter worth $11,240,000. California State Teachers Retirement System boosted its position in Block by 6,740.0% during the second quarter. California State Teachers Retirement System now owns 54,852,088 shares of the technology company’s stock valued at $4,168,759,000 after purchasing an additional 54,050,161 shares during the last quarter. Greenland Capital Management LP acquired a new stake in Block during the second quarter valued at $519,000. Finally, Ameritas Advisory Services LLC purchased a new position in Block in the second quarter valued at about $334,000. Institutional investors and hedge funds own 70.44% of the company’s stock.

Analyst Ratings Changes

A number of analysts have commented on the stock. Citigroup upped their price objective on shares of Block from $100.00 to $115.00 and gave the company a “buy” rating in a research note on Thursday, July 16th. Wolfe Research lifted their target price on shares of Block from $100.00 to $115.00 and gave the stock an “outperform” rating in a research report on Tuesday. Truist Financial upped their price target on shares of Block from $82.00 to $93.00 and gave the company a “buy” rating in a research report on Friday, July 24th. Jefferies Financial Group initiated coverage on shares of Block in a research note on Tuesday, June 30th. They issued a “hold” rating for the company. Finally, Wall Street Zen upgraded shares of Block from a “hold” rating to a “buy” rating in a research report on Saturday, May 9th. Three analysts have rated the stock with a Strong Buy rating, twenty-nine have assigned a Buy rating and eight have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $95.84.

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.