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

Block, Inc. (NYSE:XYZ) insider Brian Grassadonia sold 3,253 shares of the stock in a transaction dated 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 in the company, valued at $37,310,081.97. The trade was a 0.59 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at 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 Price Performance

Shares of NYSE:XYZ opened at $62.93 on Wednesday. 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 stock has a market capitalization of $39.00 billion, a P/E ratio of 13.83, a P/E/G ratio of 0.72 and a beta of 2.53. Block, Inc. has a fifty-two week low of $55.00 and a fifty-two week high of $99.26.

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

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on XYZ shares. Citigroup raised their price target on shares of Block from $90.00 to $108.00 and gave the stock a “buy” rating in a research report on Tuesday, January 14th. Needham & Company LLC reaffirmed a “buy” rating and set a $90.00 price target on shares of Block in a research report on Friday, February 21st. William Blair reissued an “outperform” rating on shares of Block in a report on Friday, November 15th. Piper Sandler decreased their target price on shares of Block from $101.00 to $85.00 and set an “overweight” rating on the stock in a report on Monday. Finally, Oppenheimer upgraded shares of Block from a “market perform” rating to an “outperform” rating and set a $115.00 target price on the stock in a research report on Thursday, December 19th. Six equities research analysts have rated the stock with a hold rating and twenty-five have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $96.31.

Institutional Investors Weigh In On Block

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Key Client Fiduciary Advisors LLC increased its position in shares of Block by 1.4% during the fourth quarter. Key Client Fiduciary Advisors LLC now owns 8,340 shares of the technology company’s stock valued at $709,000 after buying an additional 115 shares during the period. MassMutual Private Wealth & Trust FSB increased its position in shares of Block by 48.2% in 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 last quarter. Nations Financial Group Inc. IA ADV increased its position in shares of Block by 1.9% in the third quarter. Nations Financial Group Inc. IA ADV now owns 7,744 shares of the technology company’s stock worth $520,000 after purchasing an additional 145 shares during the last quarter. Wealth Enhancement Advisory Services LLC increased its position in shares of Block by 0.5% in the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 26,864 shares of the technology company’s stock worth $2,283,000 after purchasing an additional 145 shares during the last quarter. Finally, Rosenberg Matthew Hamilton increased its position in shares of Block by 18.3% in the fourth quarter. Rosenberg Matthew Hamilton now owns 982 shares of the technology company’s stock worth $83,000 after purchasing an additional 152 shares during the last quarter. 70.44% of the stock is currently owned by 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.