Block, Inc. (NYSE:XYZ) Insider Brian Grassadonia Sells 3,253 Shares

Block, Inc. (NYSE:XYZ) insider Brian Grassadonia sold 3,253 shares of the company’s stock in a transaction dated Monday, February 24th. The shares were sold at an average price of $68.01, for a total value of $221,236.53. Following the completion of the sale, the insider now directly owns 548,597 shares of the company’s stock, valued at approximately $37,310,081.97. This trade represents a 0.59 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink.

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

• On Friday, February 21st, Brian Grassadonia sold 4,520 shares of Block stock. The shares were sold at an average price of $70.32, for a total value of $317,846.40.

Block Price Performance

NYSE XYZ traded down $2.99 during trading hours on Tuesday, reaching $62.93. The company’s stock had a trading volume of 18,768,939 shares, compared to its average volume of 7,432,469. The company has a current ratio of 2.07, a quick ratio of 2.07 and a debt-to-equity ratio of 0.26. Block, Inc. has a fifty-two week low of $55.00 and a fifty-two week high of $99.26. The stock has a market cap of $39.00 billion, a price-to-earnings ratio of 13.83, a PEG ratio of 0.72 and a beta of 2.53.

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

Analyst Ratings Changes

A number of brokerages have recently issued reports on XYZ. Citigroup raised their target price on shares of Block from $90.00 to $108.00 and gave the stock a “buy” rating in a research report on Tuesday, January 14th. Morgan Stanley upgraded shares of Block from an “underweight” rating to an “equal weight” rating and set a $65.00 price objective on the stock in a research note on Tuesday. BMO Capital Markets upgraded shares of Block from a “market perform” rating to an “outperform” rating and decreased their target price for the stock from $100.00 to $89.00 in a research note on Monday. Wells Fargo & Company boosted their price target on Block from $85.00 to $95.00 and gave the company an “overweight” rating in a research report on Thursday, January 16th. Finally, Raymond James reduced their price objective on Block from $115.00 to $103.00 and set an “outperform” rating for the company in a research note on Friday. Six equities research analysts have rated the stock with a hold rating and twenty-five have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $96.31.

Hedge Funds Weigh In On Block

Several hedge funds have recently bought and sold shares of XYZ. Baillie Gifford & Co. boosted its stake in shares of Block by 1.5% during the third quarter. Baillie Gifford & Co. now owns 10,233,102 shares of the technology company’s stock valued at $686,948,000 after acquiring an additional 147,873 shares during the last quarter. Geode Capital Management LLC boosted its stake in shares of Block by 1.6% during the 3rd quarter. Geode Capital Management LLC now owns 8,690,075 shares of the technology company’s stock worth $581,923,000 after purchasing an additional 133,002 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its stake in shares of Block by 2.1% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 2,202,388 shares of the technology company’s stock worth $147,846,000 after purchasing an additional 45,472 shares during the last quarter. Massachusetts Financial Services Co. MA grew its holdings in shares of Block by 770.0% during the third quarter. Massachusetts Financial Services Co. MA now owns 1,738,708 shares of the technology company’s stock worth $116,719,000 after buying an additional 1,538,849 shares in the last quarter. Finally, Southpoint Capital Advisors LP acquired a new position in shares of Block in the third quarter valued at approximately $114,121,000. Hedge funds and other institutional investors own 70.44% of the company’s stock.

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.