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

Block, Inc. (NYSE:XYZ) insider Brian Grassadonia sold 4,520 shares of Block stock in a transaction that occurred on Friday, February 21st. The shares were sold at an average price of $70.32, for a total value of $317,846.40. Following the completion of 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 filing with the Securities & Exchange Commission, which is available at 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 Up 3.9 %

Shares of XYZ opened at $65.29 on Thursday. Block, Inc. has a twelve month low of $55.00 and a twelve month high of $99.26. The firm has a market capitalization of $40.47 billion, a P/E 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 quick ratio of 2.07 and a current ratio of 2.07.

Block (NYSE:XYZ) last released its quarterly earnings data on Thursday, February 20th. The technology company reported $0.26 EPS for the quarter, missing analysts’ consensus estimates of $0.37 by ($0.11). Block had a return on equity of 5.80% and a net margin of 11.92%. The firm had revenue of $6.03 billion during the quarter, compared to analysts’ expectations of $6.23 billion. On average, sell-side analysts predict that Block, Inc. will post 2.54 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on XYZ shares. Piper Sandler cut their price target on shares of Block from $101.00 to $85.00 and set an “overweight” rating for the company in a report on Monday. BMO Capital Markets upgraded Block from a “market perform” rating to an “outperform” rating and lowered their price target for the stock from $100.00 to $89.00 in a report on Monday. Citigroup boosted their target price on Block from $90.00 to $108.00 and gave the stock a “buy” rating in a research report on Tuesday, January 14th. UBS Group lowered their price target on shares of Block from $98.00 to $97.00 and set a “buy” rating on the stock in a research report on Friday, February 21st. Finally, Wells Fargo & Company lifted their price objective on Block from $85.00 to $95.00 and gave the stock an “overweight” rating in a research report on Thursday, January 16th. Six investment analysts have rated the stock with a hold rating and twenty-five have issued a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $96.31.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the business. Baillie Gifford & Co. increased its position in shares of Block by 1.5% in the third quarter. Baillie Gifford & Co. now owns 10,233,102 shares of the technology company’s stock worth $686,948,000 after acquiring an additional 147,873 shares in the last quarter. Geode Capital Management LLC lifted its holdings 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 valued at $581,923,000 after acquiring an additional 133,002 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its position in 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 period. Massachusetts Financial Services Co. MA increased its holdings in Block by 770.0% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 1,738,708 shares of the technology company’s stock valued at $116,719,000 after purchasing an additional 1,538,849 shares in the last quarter. Finally, Southpoint Capital Advisors LP purchased a new position in Block in the third quarter valued at about $114,121,000. Hedge funds and other institutional investors 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.