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

Block, Inc. (NYSE:XYZ) insider Brian Grassadonia sold 3,253 shares of the stock in a transaction dated Monday, February 24th. The stock was sold at an average price of $68.01, for a total transaction of $221,236.53. Following the sale, the insider now directly owns 548,597 shares in the company, valued at approximately $37,310,081.97. The trade was a 0.59 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website.

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

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

Block Stock Performance

Shares of NYSE XYZ opened at $65.29 on Thursday. The company has a market cap of $40.47 billion, a PE ratio of 14.35, a PEG ratio of 0.72 and a beta of 2.53. 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 1 year low of $55.00 and a 1 year high of $99.26.

Block (NYSE:XYZ) last announced its quarterly earnings results on Thursday, February 20th. The technology company reported $0.26 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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%. On average, analysts anticipate that Block, Inc. will post 2.54 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on XYZ shares. Raymond James lowered their target price on shares of Block from $115.00 to $103.00 and set an “outperform” rating on the stock in a research note on Friday, February 21st. Wells Fargo & Company raised their price target on shares of Block from $85.00 to $95.00 and gave the company an “overweight” rating in a research note on Thursday, January 16th. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $110.00 price target on shares of Block in a research note on Thursday, February 20th. William Blair reaffirmed an “outperform” rating on shares of Block in a research note on Friday, November 15th. Finally, Keefe, Bruyette & Woods decreased their price target on shares of Block from $100.00 to $87.00 and set a “market perform” rating on the stock in a research note on Friday, February 21st. 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.

Institutional Trading of Block

A number of hedge funds and other institutional investors have recently made changes to their positions in XYZ. Key Client Fiduciary Advisors LLC boosted its position in shares of Block by 1.4% during the 4th quarter. Key Client Fiduciary Advisors LLC now owns 8,340 shares of the technology company’s stock worth $709,000 after purchasing an additional 115 shares during the period. MassMutual Private Wealth & Trust FSB boosted its position in shares of Block by 48.2% during the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 418 shares of the technology company’s stock worth $36,000 after purchasing an additional 136 shares during the period. Nations Financial Group Inc. IA ADV boosted its position in shares of Block by 1.9% during the 3rd quarter. Nations Financial Group Inc. IA ADV now owns 7,744 shares of the technology company’s stock worth $520,000 after purchasing an additional 145 shares during the period. Wealth Enhancement Advisory Services LLC boosted its position in shares of Block by 0.5% during the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 26,864 shares of the technology company’s stock worth $2,283,000 after purchasing an additional 145 shares during the period. Finally, Rosenberg Matthew Hamilton boosted its position in shares of Block by 18.3% during the 4th quarter. Rosenberg Matthew Hamilton now owns 982 shares of the technology company’s stock worth $83,000 after purchasing an additional 152 shares during the period. Institutional investors and hedge funds own 70.44% of the company’s stock.

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.