Block (NYSE:XYZ) Insider Sells $396,644.00 in Stock

Block, Inc. (NYSE:XYZ) insider Brian Grassadonia sold 6,460 shares of the stock in a transaction dated Friday, November 21st. The shares were sold at an average price of $61.40, for a total transaction of $396,644.00. Following the transaction, the insider owned 529,437 shares of the company’s stock, valued at approximately $32,507,431.80. The trade was a 1.21% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website.

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

• On Monday, November 24th, Brian Grassadonia sold 8,085 shares of Block stock. The stock was sold at an average price of $61.96, for a total transaction of $500,946.60.
• On Wednesday, October 8th, Brian Grassadonia sold 35,145 shares of Block stock. The stock was sold at an average price of $80.00, for a total transaction of $2,811,600.00.
• 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 value 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 value of $100,341.34.
• On Tuesday, September 2nd, Brian Grassadonia sold 9,760 shares of Block stock. The stock was sold at an average price of $76.24, for a total value of $744,102.40.

Block Stock Performance

Shares of XYZ traded up $1.78 during mid-day trading on Tuesday, hitting $63.64. The stock had a trading volume of 7,216,840 shares, compared to its average volume of 9,071,260. Block, Inc. has a 52 week low of $44.27 and a 52 week high of $99.26. The company has a debt-to-equity ratio of 0.25, a current ratio of 2.18 and a quick ratio of 2.18. The business has a fifty day moving average price of $72.91 and a 200-day moving average price of $70.66. The firm has a market cap of $38.67 billion, a P/E ratio of 12.83, a PEG ratio of 3.47 and a beta of 2.73.

Block (NYSE:XYZ) last announced its quarterly earnings data on Thursday, November 6th. The technology company reported $0.54 earnings per share for the quarter, topping the consensus estimate of $0.25 by $0.29. Block had a return on equity of 5.54% and a net margin of 12.99%.The company had revenue of $6.11 billion during the quarter. During the same period last year, the business posted $0.53 EPS. The company’s revenue was up 2.3% compared to the same quarter last year. On average, equities research analysts expect that Block, Inc. will post 2.54 EPS for the current year.

Institutional Investors Weigh In On Block

Several large investors have recently added to or reduced their stakes in the business. Traub Capital Management LLC bought a new position in Block in the 2nd quarter worth about $26,000. Nemes Rush Group LLC purchased a new position in shares of Block during the second quarter worth about $26,000. City Holding Co. purchased a new position in shares of Block during the third quarter worth about $27,000. Cromwell Holdings LLC bought a new position in shares of Block in the third quarter worth approximately $27,000. Finally, Cary Street Partners Investment Advisory LLC purchased a new stake in Block in the third quarter valued at approximately $28,000. Institutional investors own 70.44% of the company’s stock.

Analysts Set New Price Targets

Several research firms have recently issued reports on XYZ. Truist Financial raised shares of Block from a “sell” rating to a “hold” rating in a research report on Monday, November 17th. Piper Sandler reduced their price objective on shares of Block from $58.00 to $55.00 and set an “underweight” rating for the company in a research note on Friday, November 7th. Mizuho boosted their target price on shares of Block from $88.00 to $100.00 and gave the company an “outperform” rating in a report on Thursday, November 20th. BNP Paribas lowered Block from a “strong-buy” rating to a “hold” rating and set a $86.00 price target for the company. in a report on Tuesday, September 2nd. Finally, The Goldman Sachs Group reduced their price target on Block from $96.00 to $82.00 and set a “buy” rating for the company in a research report on Friday, November 7th. Three investment analysts have rated the stock with a Strong Buy rating, twenty-one have assigned a Buy rating, twelve have assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, Block has a consensus rating of “Moderate Buy” and an average target price of $83.42.

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.