Block, Inc. (NYSE:XYZ) Insider Sells $32,796.00 in Stock

Key Points

• Dhananjay Prasanna, an insider at Block, Inc., sold 400 shares of stock for a total of $32,796, leaving him with 298,751 shares valued at approximately $24.5 million.
• Block's shares recently traded up by 2.0%, closing at $74.49, while the company has a market capitalization of $45.81 billion.
• In its latest earnings report, Block reported an EPS of $0.62, surpassing analyst expectations, yet its revenue of $6.05 billion missed forecasts of $6.32 billion.

Block, Inc. (NYSE:XYZ - Get Free Report) insider Dhananjay Prasanna sold 400 shares of Block stock in a transaction dated Friday, August 8th. The stock was sold at an average price of $81.99, for a total value of $32,796.00. Following the completion of the transaction, the insider owned 298,751 shares in the company, valued at $24,494,594.49. The trade was a 0.13% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website.

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

• On Friday, August 1st, Dhananjay Prasanna sold 3,600 shares of Block stock. The stock was sold at an average price of $74.93, for a total value of $269,748.00.
• On Wednesday, July 23rd, Dhananjay Prasanna sold 800 shares of Block stock. The stock was sold at an average price of $80.00, for a total value of $64,000.00.
• 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 stock was 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 stock was 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 stock was sold at an average price of $61.41, for a total value of $695,038.38.

Block Trading Up 2.0%

Shares of Block stock traded up $1.46 on Tuesday, hitting $74.49. 7,046,099 shares of the company's stock traded hands, compared to its average volume of 10,172,091. The firm's 50-day moving average price is $69.74 and its two-hundred day moving average price is $65.57. The stock has a market capitalization of $45.81 billion, a PE ratio of 15.95, a price-to-earnings-growth ratio of 2.89 and a beta of 2.71. Block, Inc. has a one year low of $44.27 and a one year high of $99.26. The company has a debt-to-equity ratio of 0.16, a current ratio of 1.96 and a quick ratio of 2.27.

Block (NYSE:XYZ - Get Free Report) last issued its earnings results on Thursday, August 7th. The technology company reported $0.62 EPS for the quarter, beating the consensus estimate of $0.21 by $0.41. The company had revenue of $6.05 billion during the quarter, compared to analysts' expectations of $6.32 billion. Block had a net margin of 12.32% and a return on equity of 5.80%. The business's revenue was down 1.6% compared to the same quarter last year. On average, research analysts expect that Block, Inc. will post 2.54 EPS for the current fiscal year.

Institutional Trading of Block

Institutional investors and hedge funds have recently made changes to their positions in the business. Argonautica Private Wealth Management Inc. bought a new stake in shares of Block during the 2nd quarter valued at $602,000. Private Capital Advisors Inc. bought a new stake in shares of Block during the 2nd quarter valued at $380,000. Crewe Advisors LLC acquired a new position in shares of Block in the 2nd quarter valued at $46,000. Stratos Wealth Advisors LLC acquired a new position in shares of Block in the 2nd quarter valued at $565,000. Finally, Cidel Asset Management Inc. acquired a new position in shares of Block in the 2nd quarter valued at $311,000. Institutional investors own 70.44% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on the company. Canaccord Genuity Group decreased their target price on Block from $100.00 to $80.00 and set a "buy" rating on the stock in a research report on Friday, May 2nd. Benchmark downgraded Block from a "buy" rating to a "hold" rating in a report on Friday, May 2nd. Wall Street Zen raised Block from a "sell" rating to a "hold" rating in a report on Saturday, July 5th. Keefe, Bruyette & Woods lifted their price objective on Block from $80.00 to $95.00 and gave the company an "outperform" rating in a report on Friday. Finally, Macquarie lifted their price objective on Block from $50.00 to $67.00 and gave the company a "neutral" rating in a report on Tuesday. Three equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating, twenty-four have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, Block has a consensus rating of "Moderate Buy" and a consensus price target of $78.97.

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.

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