Insider Selling: Block (NYSE:XYZ) Insider Sells 1,342 Shares of Stock

Key Points

• Insider Transactions: Block, Inc. insider Brian Grassadonia recently sold 1,342 shares of the company's stock for $100,341.34, reducing his position by 0.23% and leaving him with approximately 572,720 shares valued at $42.8 million.
• Recent Stock Performance: Block's stock has seen fluctuations, with shares trading at $77.75 and a market cap of $47.39 billion, and analysts predict continued interest with an average price target of $80.64.
• Quarterly Earnings: In its last earnings report, Block reported earnings per share of $0.62, surpassing analyst expectations, though its revenue of $6.05 billion was slightly below projections and reflected a 1.6% year-over-year decline.

Block, Inc. (NYSE:XYZ - Get Free Report) insider Brian Grassadonia sold 1,342 shares of the firm's stock in a transaction dated Thursday, October 2nd. The shares were sold at an average price of $74.77, for a total transaction of $100,341.34. Following the completion of the sale, the insider owned 572,720 shares of the company's stock, valued at approximately $42,822,274.40. The trade was a 0.23% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink.

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

• On Friday, October 3rd, Brian Grassadonia sold 1,679 shares of Block stock. The shares were sold at an average price of $76.69, for a total transaction of $128,762.51.
• 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 transaction 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 transaction of $473,238.00.

Block Price Performance

Shares of XYZ stock traded up $0.80 during midday 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 50 day simple moving average is $76.11 and its two-hundred day simple moving average is $66.20. Block, Inc. has a 1-year low of $44.27 and a 1-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 1.96. The firm has a market cap of $47.39 billion, a PE ratio of 16.65, a price-to-earnings-growth ratio of 3.11 and a beta of 2.71.

Block (NYSE:XYZ - Get Free Report) last posted its quarterly earnings results on Thursday, August 7th. The technology company reported $0.62 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.21 by $0.41. Block had a net margin of 12.32% and a return on equity of 7.85%. The company had revenue of $6.05 billion during the quarter, compared to the consensus estimate of $6.32 billion. Block's revenue was down 1.6% on a year-over-year basis. On average, equities research analysts expect that Block, Inc. will post 2.54 EPS for the current fiscal year.

Analysts Set New Price Targets

XYZ has been the subject of a number of research reports. Raymond James Financial reiterated an "outperform" rating and set a $95.00 price target (up from $79.00) on shares of Block in a research report on Friday, August 8th. Needham & Company LLC restated a "buy" rating and set a $100.00 price objective (up from $80.00) on shares of Block in a research report on Friday, August 8th. Oppenheimer lifted their price objective on Block from $70.00 to $71.00 and gave the stock an "outperform" rating in a research report on Wednesday, July 2nd. Wall Street Zen upgraded Block from a "sell" rating to a "hold" rating in a research report on Saturday, July 5th. Finally, Weiss Ratings restated a "hold (c+)" rating on shares of Block in a research report on Saturday, September 27th. Twenty-four research analysts have rated the stock with a Buy rating, ten have issued a Hold rating and three have assigned a Sell rating to the company. According to MarketBeat.com, Block presently has an average rating of "Moderate Buy" and an average price target of $80.64.

Institutional Trading of Block

Several hedge funds and other institutional investors have recently bought and sold shares of the company. JBGlobal.com LLC purchased a new stake in Block in the 3rd quarter worth approximately $422,000. Insight Wealth Strategies LLC purchased a new stake in Block in the 3rd quarter worth approximately $4,238,000. Venture Visionary Partners LLC purchased a new stake in Block in the 3rd quarter worth approximately $326,000. Aaron Wealth Advisors LLC purchased a new stake in Block in the 3rd quarter worth approximately $555,000. Finally, GAMMA Investing LLC purchased a new stake in Block in the 3rd quarter worth approximately $316,000. 70.44% of the stock is owned by hedge funds and other institutional investors.

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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