Dhananjay Prasanna Sells 11,318 Shares of Block, Inc. (NYSE:XYZ) Stock

Block, Inc. (NYSE:XYZ - Get Free Report) insider Dhananjay Prasanna sold 11,318 shares of the company's stock in a transaction dated Tuesday, May 27th. The stock was sold at an average price of $61.41, for a total transaction of $695,038.38. Following the completion of the sale, the insider now owns 318,751 shares in the company, valued at approximately $19,574,498.91. This trade represents a 3.43% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink.

Block Stock Down 0.6%

XYZ traded down $0.36 during trading on Friday, hitting $61.80. The company's stock had a trading volume of 11,485,000 shares, compared to its average volume of 9,470,194. The company has a debt-to-equity ratio of 0.26, a quick ratio of 2.07 and a current ratio of 2.07. Block, Inc. has a one year low of $44.27 and a one year high of $99.26. The stock has a market cap of $38.01 billion, a price-to-earnings ratio of 13.58, a PEG ratio of 0.72 and a beta of 2.83. The stock has a 50 day moving average price of $55.30.

Wall Street Analysts Forecast Growth

XYZ has been the topic of a number of recent research reports. BNP Paribas Exane upgraded shares of Block from a "neutral" rating to an "outperform" rating and set a $72.00 price objective on the stock in a report on Tuesday, May 27th. Canaccord Genuity Group cut their price objective on shares of Block from $100.00 to $80.00 and set a "buy" rating on the stock in a report on Friday, May 2nd. BNP Paribas upgraded shares of Block from a "hold" rating to a "strong-buy" rating in a report on Tuesday, May 27th. Citigroup dropped their target price on shares of Block from $108.00 to $90.00 and set a "buy" rating on the stock in a research note on Friday, March 14th. Finally, Barclays dropped their target price on shares of Block from $70.00 to $57.00 and set an "overweight" rating on the stock in a research note on Monday, May 5th. Ten investment analysts have rated the stock with a hold rating, twenty-two have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, Block has a consensus rating of "Moderate Buy" and an average price target of $75.23.

Institutional Inflows and Outflows

An institutional investor recently raised its position in Block stock. Empirical Financial Services LLC d.b.a. Empirical Wealth Management increased its position in shares of Block, Inc. (NYSE:XYZ - Free Report) by 183.8% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 9,154 shares of the technology company's stock after purchasing an additional 5,929 shares during the period. Empirical Financial Services LLC d.b.a. Empirical Wealth Management's holdings in Block were worth $778,000 at the end of the most recent reporting period. Hedge funds and other 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.