Block (NYSE:XYZ) Insider Brian Grassadonia Sells 1,679 Shares

Key Points

• Brian Grassadonia, an insider at Block, Inc., sold 1,679 shares of the company's stock for a total value of $128,762.51 on October 3rd, reducing his position by 0.29%.
• Block stock recently traded at $77.75, with a market cap of $47.39 billion and a P/E ratio of 16.65.
• Analysts have a consensus rating of "Moderate Buy" on Block, with an average price target of $80.64, reflecting mixed outlooks from multiple analyst firms.

Block, Inc. (NYSE:XYZ - Get Free Report) insider Brian Grassadonia sold 1,679 shares of Block stock in a transaction dated Friday, October 3rd. The shares were sold at an average price of $76.69, for a total value of $128,762.51. Following the transaction, the insider owned 571,041 shares of the company's stock, valued at $43,793,134.29. The trade was a 0.29% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink.

Brian Grassadonia also recently made the following trade(s):

• On Thursday, October 2nd, Brian Grassadonia sold 1,342 shares of Block stock. The shares were sold at an average price of $74.77, for a total value of $100,341.34.
• On Tuesday, September 2nd, Brian Grassadonia sold 9,760 shares of Block stock. The shares were sold at an average price of $76.24, for a total value of $744,102.40.
• On Thursday, August 21st, Brian Grassadonia sold 6,465 shares of Block stock. The shares were sold at an average price of $73.20, for a total value of $473,238.00.

Block Stock Performance

Shares of NYSE XYZ traded up $0.80 during trading on Monday, reaching $77.75. 5,318,100 shares of the company traded hands, compared to its average volume of 9,390,499. The firm's fifty day simple moving average is $76.11 and its 200 day simple moving average is $66.20. The stock has a market cap of $47.39 billion, a P/E ratio of 16.65, a PEG ratio of 3.11 and a beta of 2.71. Block, Inc. has a 12-month low of $44.27 and a 12-month high of $99.26. The company has a current ratio of 1.96, a quick ratio of 1.96 and a debt-to-equity ratio of 0.16.

Block (NYSE:XYZ - Get Free Report) last released its quarterly earnings data on Thursday, August 7th. The technology company reported $0.62 earnings per share for the quarter, beating analysts' consensus estimates of $0.21 by $0.41. The business had revenue of $6.05 billion during the quarter, compared to analyst estimates of $6.32 billion. Block had a return on equity of 7.85% and a net margin of 12.32%.The company's revenue was down 1.6% compared to the same quarter last year. As a group, research analysts anticipate that Block, Inc. will post 2.54 earnings per share for the current fiscal year.

Analyst Ratings Changes

XYZ has been the subject of several recent analyst reports. Piper Sandler restated an "underweight" rating and issued a $58.00 price target (up previously from $50.00) on shares of Block in a research note on Friday, August 8th. Robert W. Baird lifted their price target on Block from $76.00 to $84.00 and gave the company an "outperform" rating in a research note on Monday, July 21st. Jefferies Financial Group cut their price target on Block from $95.00 to $90.00 and set a "buy" rating for the company in a research note on Friday, August 15th. Cowen restated a "buy" rating on shares of Block in a research note on Friday, August 8th. Finally, Royal Bank Of Canada reiterated an "outperform" rating and issued a $97.00 price objective (up from $63.00) on shares of Block in a report on Friday, August 8th. Twenty-four analysts have rated the stock with a Buy rating, ten have assigned a Hold rating and three have given a Sell rating to the company. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $80.64.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the stock. Traub Capital Management LLC acquired a new position in shares of Block during the 2nd quarter worth approximately $26,000. Nemes Rush Group LLC acquired a new position in shares of Block during the 2nd quarter worth approximately $26,000. SouthState Corp acquired a new position in shares of Block during the 2nd quarter worth approximately $29,000. First Horizon Advisors Inc. purchased a new stake in shares of Block during the 2nd quarter valued at approximately $30,000. Finally, Comprehensive Financial Planning Inc. PA purchased a new stake in shares of Block during the 2nd quarter valued at approximately $31,000. 70.44% of the stock is currently owned by institutional investors and hedge funds.

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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