Brian Grassadonia Sells 4,520 Shares of Block, Inc. (NYSE:XYZ) Stock

Block, Inc. (NYSE:XYZ) insider Brian Grassadonia sold 4,520 shares of the stock in a transaction that occurred on Friday, February 21st. The stock was sold at an average price of $70.32, for a total value of $317,846.40. Following the sale, the insider now owns 551,850 shares in the company, valued at approximately $38,806,092. This trade represents a 0.81 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website.

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

• On Monday, February 24th, Brian Grassadonia sold 3,253 shares of Block stock. The shares were sold at an average price of $68.01, for a total value of $221,236.53.

Block Stock Performance

XYZ traded down $2.99 during trading on Tuesday, hitting $62.93. The stock had a trading volume of 18,768,939 shares, compared to its average volume of 7,432,469. The company has a debt-to-equity ratio of 0.26, a current ratio of 2.07 and a quick ratio of 2.07. Block, Inc. has a one year low of $55.00 and a one year high of $99.26. The company has a market capitalization of $39.00 billion, a PE ratio of 13.83, a price-to-earnings-growth ratio of 0.72 and a beta of 2.53.

Block (NYSE:XYZ) last posted its quarterly earnings results on Thursday, February 20th. The technology company reported $0.26 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.37 by ($0.11). The firm had revenue of $6.03 billion for the quarter, compared to analyst estimates of $6.23 billion. Block had a return on equity of 5.80% and a net margin of 11.92%. Research analysts expect that Block, Inc. will post 2.54 EPS for the current year.

Institutional Investors Weigh In On Block

Institutional investors have recently made changes to their positions in the stock. Empirical Financial Services LLC d.b.a. Empirical Wealth Management raised its position in shares of Block by 183.8% in the 4th quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management now owns 9,154 shares of the technology company’s stock worth $778,000 after acquiring an additional 5,929 shares in the last quarter. Guerra Pan Advisors LLC bought a new position in shares of Block in the fourth quarter valued at $211,000. Moody Lynn & Lieberson LLC bought a new stake in Block during the 4th quarter worth approximately $3,775,000. Toth Financial Advisory Corp raised its position in Block by 18,150.0% in the 4th quarter. Toth Financial Advisory Corp now owns 7,300 shares of the technology company’s stock valued at $620,000 after buying an additional 7,260 shares during the last quarter. Finally, Nepsis Inc. bought a new position in shares of Block during the fourth quarter valued at about $9,769,000. Institutional investors own 70.44% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on XYZ shares. Keefe, Bruyette & Woods dropped their target price on shares of Block from $100.00 to $87.00 and set a “market perform” rating for the company in a research note on Friday. BMO Capital Markets upgraded Block from a “market perform” rating to an “outperform” rating and decreased their price objective for the company from $100.00 to $89.00 in a research report on Monday. Macquarie upped their price target on Block from $100.00 to $110.00 and gave the company an “outperform” rating in a research note on Tuesday, December 10th. Sanford C. Bernstein lifted their price objective on Block from $90.00 to $120.00 and gave the stock an “outperform” rating in a research report on Monday, December 2nd. Finally, William Blair restated an “outperform” rating on shares of Block in a research report on Friday, November 15th. Six analysts have rated the stock with a hold rating and twenty-five have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $96.31.

About Block

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.