Block, Inc. (NYSE:XYZ) Insider Dhananjay Prasanna Sells 800 Shares

Key Points

• Insider Dhananjay Prasanna sold 800 shares of Block, Inc. at an average price of $80.00 for a total of $64,000, reducing their ownership to 302,751 shares.
• Block, Inc. reported a 1.2% increase in stock price recently, reaching $80.71 per share, while experiencing a trading volume of over 6.3 million shares.
• Analysts have given Block, Inc. a consensus rating of "Moderate Buy" with an average price target of $74.91, reflecting a mix of buy, hold, and sell ratings among advisors.

Block, Inc. (NYSE:XYZ - Get Free Report) insider Dhananjay Prasanna sold 800 shares of the stock in a transaction that occurred on Wednesday, July 23rd. The shares were sold at an average price of $80.00, for a total value of $64,000.00. Following the transaction, the insider owned 302,751 shares of the company's stock, valued at approximately $24,220,080. This trade represents a 0.26% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink.

Dhananjay Prasanna also recently made the following trade(s):

• On Thursday, July 17th, Dhananjay Prasanna sold 800 shares of Block stock. The stock was sold at an average price of $70.00, for a total value of $56,000.00.
• On Tuesday, July 15th, Dhananjay Prasanna sold 2,800 shares of Block stock. The stock was sold at an average price of $68.06, for a total value of $190,568.00.
• On Wednesday, July 2nd, Dhananjay Prasanna sold 800 shares of Block stock. The stock was sold at an average price of $70.00, for a total value of $56,000.00.
• On Tuesday, July 1st, Dhananjay Prasanna sold 2,800 shares of Block stock. The stock was sold at an average price of $67.74, for a total value of $189,672.00.
• On Monday, June 30th, Dhananjay Prasanna sold 2,400 shares of Block stock. The stock was sold at an average price of $67.24, for a total value of $161,376.00.
• On Monday, June 16th, Dhananjay Prasanna sold 2,800 shares of Block stock. The shares were sold at an average price of $63.51, for a total value of $177,828.00.
• On Monday, June 2nd, Dhananjay Prasanna sold 2,800 shares of Block stock. The shares were sold at an average price of $60.56, for a total value of $169,568.00.
• On Tuesday, May 27th, Dhananjay Prasanna sold 11,318 shares of Block stock. The shares were sold at an average price of $61.41, for a total value of $695,038.38.

Block Stock Up 1.2%

NYSE:XYZ traded up $0.94 during trading hours on Friday, reaching $80.71. The company had a trading volume of 6,342,833 shares, compared to its average volume of 16,337,229. The business has a 50-day simple moving average of $65.65. Block, Inc. has a one year low of $44.27 and a one year high of $99.26. The firm has a market cap of $49.64 billion, a price-to-earnings ratio of 41.98, a PEG ratio of 3.23 and a beta of 2.74. The company has a quick ratio of 2.27, a current ratio of 2.27 and a debt-to-equity ratio of 0.24.

Block (NYSE:XYZ - Get Free Report) last announced its quarterly earnings results on Thursday, May 1st. The technology company reported $0.55 earnings per share for the quarter, beating analysts' consensus estimates of $0.48 by $0.07. Block had a return on equity of 5.71% and a net margin of 10.84%. The firm had revenue of $5.77 billion for the quarter. During the same quarter last year, the company earned $0.47 earnings per share. The business's revenue was down 3.1% on a year-over-year basis. As a group, sell-side analysts expect that Block, Inc. will post 2.54 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on XYZ. Jefferies Financial Group raised their target price on Block from $60.00 to $70.00 and gave the company a "buy" rating in a research note on Tuesday, May 27th. Compass Point began coverage on Block in a research note on Wednesday, July 2nd. They issued a "buy" rating and a $80.00 target price on the stock. Raymond James Financial set a $79.00 price target on Block and gave the company an "outperform" rating in a report on Monday, June 2nd. Wolfe Research set a $75.00 price target on Block in a report on Monday, May 19th. Finally, Barclays raised their price target on Block from $57.00 to $75.00 and gave the company an "overweight" rating in a report on Monday, June 9th. Two analysts have rated the stock with a sell rating, eight have assigned a hold rating, twenty-four have given a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat.com, Block currently has a consensus rating of "Moderate Buy" and an average target price of $74.91.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.