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

Block, Inc. (NYSE:XYZ) insider Brian Grassadonia sold 3,253 shares of the business’s stock in a transaction that occurred on Monday, February 24th. The shares were sold at an average price of $68.01, for a total transaction of $221,236.53. Following the transaction, the insider now owns 548,597 shares of the company’s stock, valued at approximately $37,310,081.97. This represents a 0.59 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website.

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

• On Friday, February 21st, Brian Grassadonia sold 4,520 shares of Block stock. The shares were sold at an average price of $70.32, for a total transaction of $317,846.40.

Block Trading Down 4.5 %

Shares of XYZ stock opened at $62.93 on Wednesday. The firm has a market capitalization of $39.00 billion, a price-to-earnings ratio of 13.83, 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, Inc. has a one year low of $55.00 and a one year high of $99.26.

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

Wall Street Analysts Forecast Growth

XYZ has been the subject of a number of analyst reports. StockNews.com initiated coverage on shares of Block in a report on Saturday, February 15th. They set a “hold” rating for the company. Macquarie boosted their price objective on shares of Block from $100.00 to $110.00 and gave the company an “outperform” rating in a report on Tuesday, December 10th. BNP Paribas cut shares of Block from an “outperform” rating to a “neutral” rating and set a $88.00 price objective for the company. in a report on Wednesday, November 20th. Oppenheimer upgraded shares of Block from a “market perform” rating to an “outperform” rating and set a $115.00 price objective for the company in a report on Thursday, December 19th. Finally, Raymond James cut their price target on shares of Block from $115.00 to $103.00 and set an “outperform” rating on the stock in a research note on Friday, February 21st. Six equities research analysts have rated the stock with a hold rating and twenty-five have issued a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $96.31.

Institutional Trading of Block

A number of large investors have recently added to or reduced their stakes in XYZ. Southpoint Capital Advisors LP acquired a new stake in Block in the third quarter valued at $114,121,000. Massachusetts Financial Services Co. MA lifted its stake in Block by 770.0% in the third quarter. Massachusetts Financial Services Co. MA now owns 1,738,708 shares of the technology company’s stock valued at $116,719,000 after acquiring an additional 1,538,849 shares during the last quarter. Woodson Capital Management LP bought a new position in shares of Block in the third quarter valued at about $27,255,000. Azora Capital LP raised its position in shares of Block by 358.4% in the third quarter. Azora Capital LP now owns 503,402 shares of the technology company’s stock valued at $33,793,000 after purchasing an additional 393,593 shares during the period. Finally, Graypoint LLC bought a new position in shares of Block in the fourth quarter valued at about $32,445,000. Institutional investors and hedge funds 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.