Block (NYSE:XYZ) Insider Sells 8,173 Shares of Stock

Key Points

• Block insider Brian Grassadonia sold 8,173 shares at an average price of $82.42, generating approximately $673,619. The transaction was made under a pre-arranged Rule 10b5-1 plan, leaving him with 513,981 shares.
• Block shares traded around $81.38, near their 52-week high of $86.75, while the company’s latest quarterly results beat expectations with adjusted EPS of $1.02 and revenue of $6.62 billion, up 9.3% year over year.
• Analysts maintain a consensus “Moderate Buy” rating with an average price target of $95.23, compared with approximately $81.38 at the time of the report.

Block, Inc. (NYSE:XYZ - Get Free Report) insider Brian Grassadonia sold 8,173 shares of the stock in a transaction that occurred on Monday, August 24th. The shares were sold at an average price of $82.42, for a total value of $673,618.66. Following the completion of the sale, the insider directly owned 513,981 shares of the company's stock, valued at $42,362,314.02. This represents a 1.57% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

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

• On Monday, August 3rd, Brian Grassadonia sold 25,908 shares of Block stock. The shares were sold at an average price of $81.64, for a total value of $2,115,129.12.
• On Thursday, July 2nd, Brian Grassadonia sold 43,348 shares of Block stock. The stock was sold at an average price of $80.00, for a total transaction of $3,467,840.00.

Block Price Performance

Block stock traded down $0.79 during mid-day trading on Monday, hitting $81.38. 4,068,129 shares of the company were exchanged, compared to its average volume of 4,955,299. The business has a fifty day moving average of $78.89 and a 200 day moving average of $69.40. The company has a quick ratio of 2.21, a current ratio of 2.21 and a debt-to-equity ratio of 0.26. Block, Inc. has a 1-year low of $48.21 and a 1-year high of $86.75. The company has a market capitalization of $48.89 billion, a PE ratio of 145.31, a price-to-earnings-growth ratio of 0.92 and a beta of 2.53.

Block (NYSE:XYZ - Get Free Report) last released its quarterly earnings results on Wednesday, August 5th. The technology company reported $1.02 EPS for the quarter, beating analysts' consensus estimates of $0.48 by $0.54. Block had a net margin of 1.43% and a return on equity of 8.10%. The firm had revenue of $6.62 billion for the quarter. During the same quarter last year, the firm earned $0.62 earnings per share. Block's quarterly revenue was up 9.3% on a year-over-year basis. Block has set its FY 2026 guidance at 4.020-4.020 EPS and its Q3 2026 guidance at 1.020-1.020 EPS. As a group, sell-side analysts expect that Block, Inc. will post 2.69 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on the company. William Blair lowered Block to a "market perform" rating in a research report on Tuesday, June 30th. Deutsche Bank Aktiengesellschaft raised shares of Block to a "buy" rating in a report on Tuesday, June 30th. Robert W. Baird set a $105.00 price objective on Block in a report on Thursday, August 6th. Jefferies Financial Group assumed coverage on shares of Block in a research note on Tuesday, June 30th. They issued a "hold" rating for the company. Finally, Rosenblatt Securities set a $100.00 target price on shares of Block in a report on Tuesday, June 30th. Three analysts have rated the stock with a Strong Buy rating, twenty-eight have issued a Buy rating and eight have given a Hold rating to the company's stock. According to MarketBeat.com, Block currently has a consensus rating of "Moderate Buy" and an average target price of $95.23.

Hedge Funds Weigh In On Block

Hedge funds and other institutional investors have recently made changes to their positions in the company. Baird Financial Group Inc. acquired a new position in Block during the second quarter valued at approximately $1,866,000. Brown Advisory Inc. acquired a new position in shares of Block during the 2nd quarter worth $516,000. Jump Financial LLC bought a new stake in shares of Block during the 2nd quarter worth $385,000. Federated Hermes Inc. acquired a new stake in Block in the second quarter valued at about $53,000. Finally, Cerity Partners LLC bought a new position in Block in the second quarter valued at about $1,861,000. 70.44% of the stock is currently owned by institutional investors and hedge funds.

About Block

Block NYSE: XYZ is a financial technology company that builds products and services to facilitate electronic payments, commerce, and consumer finance. Its principal business lines include a seller-focused ecosystem that provides point-of-sale hardware and software, payment processing, invoicing, payroll and lending services, and a consumer-facing platform that offers peer-to-peer payments, banking-like features, and investing. Block's portfolio also encompasses music streaming and buy-now-pay-later capabilities through businesses acquired to broaden its reach beyond core payments.

The company was founded as Square in 2009 by Jack Dorsey and Jim McKelvey and later rebranded to Block to reflect a diversified set of businesses across payments, consumer finance, and emerging technologies.

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