Block (NYSE:XYZ) Insider Brian Grassadonia Sells 35,145 Shares

Block, Inc. (NYSE:XYZ) insider Brian Grassadonia sold 35,145 shares of the firm’s stock in a transaction that occurred on Wednesday, October 8th. The stock was sold at an average price of $80.00, for a total transaction of $2,811,600.00. Following the transaction, the insider owned 535,896 shares of the company’s stock, valued at approximately $42,871,680. The trade was a 6.15% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink.

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

• 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 shares were sold at an average price of $74.77, for a total transaction 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 transaction of $744,102.40.
• On Thursday, August 21st, Brian Grassadonia sold 6,465 shares of Block stock. The shares were sold at an average price of $73.20, for a total transaction of $473,238.00.

Block Stock Performance

NYSE:XYZ opened at $74.80 on Friday. The company has a fifty day moving average of $76.23 and a 200-day moving average of $66.72. The firm has a market capitalization of $45.60 billion, a P/E ratio of 16.02, a P/E/G ratio of 3.27 and a beta of 2.71. The company has a quick ratio of 1.96, a current ratio of 1.96 and a debt-to-equity ratio of 0.16. Block, Inc. has a twelve month low of $44.27 and a twelve month high of $99.26.

Block (NYSE:XYZ) last released its quarterly earnings data on Thursday, August 7th. The technology company reported $0.62 earnings per share for the quarter, beating the consensus estimate of $0.21 by $0.41. The company had revenue of $6.05 billion during the quarter, compared to analyst estimates of $6.32 billion. Block had a net margin of 12.32% and a return on equity of 7.85%. The company’s quarterly revenue was down 1.6% compared to the same quarter last year. As a group, sell-side analysts anticipate that Block, Inc. will post 2.54 EPS for the current year.

Wall Street Analyst Weigh In

Several analysts recently issued reports on XYZ shares. Jefferies Financial Group reduced their price target on shares of Block from $95.00 to $90.00 and set a “buy” rating for the company in a research report on Friday, August 15th. Morgan Stanley lifted their price target on shares of Block from $73.00 to $77.00 and gave the company an “equal weight” rating in a research report on Monday, August 11th. Deutsche Bank Aktiengesellschaft set a $82.00 price target on shares of Block and gave the company a “buy” rating in a research report on Thursday, July 17th. Oppenheimer lifted their price target on shares of Block from $70.00 to $71.00 and gave the company an “outperform” rating in a research report on Wednesday, July 2nd. Finally, Keefe, Bruyette & Woods lifted their price target on shares of Block from $80.00 to $95.00 and gave the company an “outperform” rating in a research report on Friday, August 8th. Twenty-four analysts have rated the stock with a Buy rating, ten have issued a Hold rating and three have assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $80.64.

Hedge Funds Weigh In On Block

A number of hedge funds have recently bought and sold shares of XYZ. Vanguard Group Inc. purchased a new position in Block during the 2nd quarter worth $3,730,489,000. Sands Capital Management LLC purchased a new position in Block during the 2nd quarter worth $702,446,000. Geode Capital Management LLC purchased a new position in Block during the 2nd quarter worth $634,721,000. Dragoneer Investment Group LLC purchased a new position in Block during the 2nd quarter worth $627,233,000. Finally, Ameriprise Financial Inc. purchased a new position in Block during the 2nd quarter worth $535,305,000. 70.44% of the stock is owned by hedge funds and other institutional investors.

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.