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

Block, Inc. (NYSE:XYZ) insider Brian Grassadonia sold 3,253 shares of the firm’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 completion of the transaction, the insider now directly owns 548,597 shares of the company’s stock, valued at $37,310,081.97. This represents a 0.59 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink.

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 Stock Performance

NYSE XYZ opened at $65.29 on Thursday. The company has a current ratio of 2.07, a quick ratio of 2.07 and a debt-to-equity ratio of 0.26. The firm has a market capitalization of $40.47 billion, a price-to-earnings ratio of 14.35, a price-to-earnings-growth ratio of 0.72 and a beta of 2.53. Block, Inc. has a one year low of $55.00 and a one year high of $99.26.

Block (NYSE:XYZ) last posted its quarterly earnings data 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 business 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%. As a group, research analysts expect that Block, Inc. will post 2.54 earnings per share for the current year.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the business. SouthState Corp increased its stake in Block by 85.3% in the third quarter. SouthState Corp now owns 391 shares of the technology company’s stock valued at $26,000 after purchasing an additional 180 shares during the period. Versant Capital Management Inc increased its stake in shares of Block by 67.7% during the fourth quarter. Versant Capital Management Inc now owns 394 shares of the technology company’s stock worth $33,000 after acquiring an additional 159 shares during the period. MassMutual Private Wealth & Trust FSB increased its stake in shares of 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 acquiring an additional 136 shares during the period. True Wealth Design LLC increased its stake in shares of Block by 64.7% during the third quarter. True Wealth Design LLC now owns 494 shares of the technology company’s stock worth $33,000 after acquiring an additional 194 shares during the period. Finally, Rosenberg Matthew Hamilton increased its stake in shares of Block by 18.3% during the fourth quarter. Rosenberg Matthew Hamilton now owns 982 shares of the technology company’s stock worth $83,000 after acquiring an additional 152 shares during the period. 70.44% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities analysts have commented on XYZ shares. Barclays decreased their price target on shares of Block from $112.00 to $97.00 and set an “overweight” rating for the company in a research report on Monday. Raymond James decreased their price target 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. Piper Sandler decreased their price target on shares of Block from $101.00 to $85.00 and set an “overweight” rating for the company in a research report on Monday. Macquarie raised their price target on shares of Block from $100.00 to $110.00 and gave the company an “outperform” rating in a research report on Tuesday, December 10th. Finally, BMO Capital Markets raised shares of Block from a “market perform” rating to an “outperform” rating and decreased their price target for the company from $100.00 to $89.00 in a research report on Monday. Six research analysts have rated the stock with a hold rating and twenty-five have given a buy rating to the stock. Based on data from MarketBeat.com, Block currently has a consensus rating of “Moderate Buy” and an average price target of $96.31.

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.