Brian Grassadonia Sells 8,085 Shares of Block (NYSE:XYZ) Stock

Block, Inc. (NYSE:XYZ) insider Brian Grassadonia sold 8,085 shares of the stock in a transaction on Monday, November 24th. The shares were sold at an average price of $61.96, for a total transaction of $500,946.60. Following the completion of the sale, the insider directly owned 521,352 shares in the company, valued at approximately $32,302,969.92. This represents a 1.53% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website.

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

• On Friday, November 21st, Brian Grassadonia sold 6,460 shares of Block stock. The shares were sold at an average price of $61.40, for a total transaction of $396,644.00.
• On Wednesday, October 8th, Brian Grassadonia sold 35,145 shares of Block stock. The stock was sold at an average price of $80.00, for a total transaction of $2,811,600.00.
• On Friday, October 3rd, Brian Grassadonia sold 1,679 shares of Block stock. The stock was sold at an average price of $76.69, for a total transaction of $128,762.51.
• On Thursday, October 2nd, Brian Grassadonia sold 1,342 shares of Block stock. The shares were sold at an average price of $74.77, for a total value of $100,341.34.
• On Tuesday, September 2nd, Brian Grassadonia sold 9,760 shares of Block stock. The stock was sold at an average price of $76.24, for a total value of $744,102.40.

Block Price Performance

XYZ opened at $65.11 on Thursday. The business has a fifty day moving average of $72.46 and a 200 day moving average of $70.72. The stock has a market cap of $39.57 billion, a P/E ratio of 13.13, a PEG ratio of 3.57 and a beta of 2.73. The company has a quick ratio of 2.18, a current ratio of 2.18 and a debt-to-equity ratio of 0.25. Block, Inc. has a 52-week low of $44.27 and a 52-week high of $99.26.

Block (NYSE:XYZ) last released its earnings results on Thursday, November 6th. The technology company reported $0.54 earnings per share for the quarter, topping analysts’ consensus estimates of $0.25 by $0.29. The business had revenue of $6.11 billion for the quarter. Block had a return on equity of 5.54% and a net margin of 12.99%.The business’s revenue for the quarter was up 2.3% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.53 EPS. As a group, sell-side analysts anticipate that Block, Inc. will post 2.54 EPS for the current year.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of the company. Cromwell Holdings LLC acquired a new stake in Block in the third quarter valued at approximately $27,000. City Holding Co. purchased a new stake in shares of Block during the 3rd quarter valued at $27,000. Nemes Rush Group LLC acquired a new stake in shares of Block in the 2nd quarter worth $26,000. Cary Street Partners Investment Advisory LLC purchased a new position in Block during the 3rd quarter worth $28,000. Finally, Traub Capital Management LLC acquired a new position in Block during the 2nd quarter valued at about $26,000. Institutional investors own 70.44% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on the company. Citigroup raised Block to a “strong-buy” rating in a research report on Thursday, October 23rd. Jefferies Financial Group increased their target price on shares of Block from $90.00 to $95.00 and gave the stock a “buy” rating in a report on Tuesday, October 21st. Macquarie boosted their price target on shares of Block from $50.00 to $67.00 and gave the company a “neutral” rating in a report on Tuesday, August 12th. Oppenheimer reaffirmed an “outperform” rating and issued a $85.00 price target on shares of Block in a research report on Friday, November 7th. Finally, Bank of America lifted their price objective on shares of Block from $86.00 to $88.00 and gave the company a “buy” rating in a report on Friday, November 21st. Three analysts have rated the stock with a Strong Buy rating, twenty-one have given a Buy rating, twelve have issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, Block currently has a consensus rating of “Moderate Buy” and an average target price of $83.42.

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.