Insider Selling: Block, Inc. (NYSE:XYZ) Insider Sells $317,846.40 in Stock

Block, Inc. (NYSE:XYZ) insider Brian Grassadonia sold 4,520 shares of Block stock in a transaction on Friday, February 21st. The shares were sold at an average price of $70.32, for a total transaction of $317,846.40. Following the completion of the sale, the insider now owns 551,850 shares in the company, valued at $38,806,092. The trade was a 0.81 % decrease in their ownership of the stock. The sale 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 Monday, February 24th, Brian Grassadonia sold 3,253 shares of Block stock. The shares were sold at an average price of $68.01, for a total value of $221,236.53.

Block Stock Down 1.4 %

NYSE:XYZ opened at $64.36 on Friday. Block, Inc. has a 52 week low of $55.00 and a 52 week high of $99.26. The company has a debt-to-equity ratio of 0.26, a quick ratio of 2.07 and a current ratio of 2.07. The stock has a market cap of $39.89 billion, a P/E ratio of 14.15, a price-to-earnings-growth ratio of 0.72 and a beta of 2.53.

Block (NYSE:XYZ) last announced its earnings results on Thursday, February 20th. The technology company reported $0.26 EPS for the quarter, missing the consensus estimate of $0.37 by ($0.11). Block had a return on equity of 5.80% and a net margin of 11.92%. The business had revenue of $6.03 billion for the quarter, compared to the consensus estimate of $6.23 billion. Research analysts expect that Block, Inc. will post 2.54 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

XYZ has been the topic of several analyst reports. William Blair reiterated an “outperform” rating on shares of Block in a report on Friday, November 15th. Piper Sandler dropped their price objective on Block from $101.00 to $85.00 and set an “overweight” rating on the stock in a research note on Monday. Sanford C. Bernstein raised their target price on shares of Block from $90.00 to $120.00 and gave the company an “outperform” rating in a research note on Monday, December 2nd. The Goldman Sachs Group dropped their price target on shares of Block from $109.00 to $94.00 and set a “buy” rating on the stock in a research report on Friday, February 21st. Finally, Raymond James decreased their price objective on shares of Block from $115.00 to $103.00 and set an “outperform” rating for the company in a research report on Friday, February 21st. Six investment analysts have rated the stock with a hold rating and twenty-five have given a buy rating to the company. Based on data from MarketBeat, Block has an average rating of “Moderate Buy” and an average price target of $96.31.

Hedge Funds Weigh In On Block

Hedge funds have recently added to or reduced their stakes in the stock. Key Client Fiduciary Advisors LLC grew its holdings in shares of Block by 1.4% during the 4th quarter. Key Client Fiduciary Advisors LLC now owns 8,340 shares of the technology company’s stock worth $709,000 after purchasing an additional 115 shares in the last quarter. MassMutual Private Wealth & Trust FSB lifted its position in Block by 48.2% during the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 418 shares of the technology company’s stock worth $36,000 after purchasing an additional 136 shares during the period. Nations Financial Group Inc. IA ADV grew its stake in Block by 1.9% during the third quarter. Nations Financial Group Inc. IA ADV now owns 7,744 shares of the technology company’s stock worth $520,000 after buying an additional 145 shares in the last quarter. Wealth Enhancement Advisory Services LLC increased its holdings in Block by 0.5% in the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 26,864 shares of the technology company’s stock valued at $2,283,000 after buying an additional 145 shares during the period. Finally, Rosenberg Matthew Hamilton raised its position in shares of Block by 18.3% in the 4th quarter. Rosenberg Matthew Hamilton now owns 982 shares of the technology company’s stock valued at $83,000 after buying an additional 152 shares in the last quarter. Institutional investors own 70.44% of the company’s stock.

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.