Insider Selling: Block (NYSE:XYZ) Insider Sells 3,600 Shares of Stock

Key Points

• Block, Inc. insider Dhananjay Prasanna sold 3,600 shares of stock at an average price of $76.19, totaling $274,284, reducing his ownership by 1.21% to 295,151 shares valued at over $22 million.
• Block's shares traded down 3.1%, reaching $74.32, with a market cap of $45.71 billion and a PE ratio of 15.91.
• The company reported $0.62 EPS for the last quarter, beating estimates, but revenue of $6.05 billion was below the forecast of $6.32 billion.

Block, Inc. (NYSE:XYZ - Get Free Report) insider Dhananjay Prasanna sold 3,600 shares of Block stock in a transaction dated Friday, August 15th. The shares were sold at an average price of $76.19, for a total value of $274,284.00. Following the sale, the insider directly owned 295,151 shares in the company, valued at $22,487,554.69. The trade was a 1.21% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website.

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

• On Friday, August 8th, Dhananjay Prasanna sold 400 shares of Block stock. The shares were sold at an average price of $81.99, for a total value of $32,796.00.
• On Friday, August 1st, Dhananjay Prasanna sold 3,600 shares of Block stock. The shares were 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 shares were 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 shares were 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.

Block Trading Down 3.1%

Shares of XYZ stock traded down $2.41 during mid-day trading on Tuesday, hitting $74.32. The company's stock had a trading volume of 5,378,388 shares, compared to its average volume of 10,061,465. The company has a market cap of $45.71 billion, a PE ratio of 15.91, a P/E/G ratio of 3.31 and a beta of 2.71. The company has a debt-to-equity ratio of 0.16, a quick ratio of 1.96 and a current ratio of 1.96. The company's fifty day simple moving average is $70.90 and its 200-day simple moving average is $64.89. Block, Inc. has a 52 week low of $44.27 and a 52 week high of $99.26.

Block (NYSE:XYZ - Get Free Report) last announced its quarterly earnings data 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. The company had revenue of $6.05 billion for the quarter, compared to the consensus estimate of $6.32 billion. Block had a return on equity of 7.85% and a net margin of 12.32%.The firm's quarterly revenue was down 1.6% compared to the same quarter last year. As a group, equities research analysts expect that Block, Inc. will post 2.54 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Block

Institutional investors have recently bought and sold shares of the stock. Nemes Rush Group LLC bought a new stake in Block during the second quarter worth $26,000. Traub Capital Management LLC bought a new stake in Block during the second quarter worth $26,000. SouthState Corp bought a new stake in Block during the second quarter worth $29,000. First Horizon Advisors Inc. bought a new stake in Block during the second quarter worth $30,000. Finally, Comprehensive Financial Planning Inc. PA bought a new stake in Block during the second quarter worth $31,000. Institutional investors own 70.44% of the company's stock.

Analyst Ratings Changes

XYZ has been the subject of a number of research analyst reports. Benchmark downgraded Block from a "buy" rating to a "hold" rating in a report on Friday, May 2nd. Wolfe Research set a $75.00 target price on Block in a report on Monday, May 19th. Sanford C. Bernstein lifted their target price on Block from $75.00 to $90.00 and gave the stock an "outperform" rating in a report on Tuesday, July 22nd. Oppenheimer lifted their target price on Block from $70.00 to $71.00 and gave the stock an "outperform" rating in a report on Wednesday, July 2nd. Finally, Compass Point reiterated a "sell" rating and issued a $65.00 target price (down from $80.00) on shares of Block in a report on Friday, August 8th. One equities research analyst has rated the stock with a Strong Buy rating, twenty-five have issued a Buy rating, eight have issued a Hold rating and three have given a Sell rating to the stock. According to MarketBeat, the company has an average rating of "Moderate Buy" and an average target price of $79.82.

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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