Brian Grassadonia Sells 1,038 Shares of Block (NYSE:XYZ) Stock

Block, Inc. (NYSE:XYZ) insider Brian Grassadonia sold 1,038 shares of Block stock in a transaction that occurred on Friday, January 2nd. The stock was sold at an average price of $63.98, for a total transaction of $66,411.24. Following the transaction, the insider directly owned 520,314 shares in the company, valued at $33,289,689.72. This trade represents a 0.20% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink.

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

• On Tuesday, January 6th, Brian Grassadonia sold 1,983 shares of Block stock. The shares were sold at an average price of $68.52, for a total transaction of $135,875.16.
• On Monday, November 24th, Brian Grassadonia sold 8,085 shares of Block stock. The shares were sold at an average price of $61.96, for a total transaction of $500,946.60.
• On Friday, November 21st, Brian Grassadonia sold 6,460 shares of Block stock. The stock was 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 shares were sold at an average price of $80.00, for a total transaction of $2,811,600.00.

Block Trading Up 2.2%

Shares of NYSE:XYZ traded up $1.49 on Tuesday, reaching $69.94. 5,467,033 shares of the company traded hands, compared to its average volume of 6,802,261. The business’s 50-day simple moving average is $65.35 and its 200 day simple moving average is $71.45. The company has a current ratio of 2.18, a quick 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 $94.25. The stock has a market capitalization of $42.50 billion, a P/E ratio of 14.10, a price-to-earnings-growth ratio of 1.20 and a beta of 2.66.

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

Institutional Trading of Block

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

Analyst Ratings Changes

XYZ has been the topic of a number of analyst reports. BTIG Research restated a “buy” rating and issued a $90.00 price objective on shares of Block in a research report on Thursday, November 20th. KeyCorp reissued an “overweight” rating and set a $94.00 price objective on shares of Block in a research report on Wednesday, October 22nd. Piper Sandler decreased their price objective on shares of Block from $58.00 to $55.00 and set an “underweight” rating for the company in a report on Friday, November 7th. Needham & Company LLC reaffirmed a “buy” rating and set a $80.00 target price on shares of Block in a research note on Monday, November 24th. Finally, Mizuho boosted their price target on shares of Block from $88.00 to $100.00 and gave the company an “outperform” rating in a research report on Thursday, November 20th. Three analysts have rated the stock with a Strong Buy rating, twenty-one have issued a Buy rating, twelve have assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $83.12.

Block Company Profile

Block (NYSE:XYZ) is a financial technology company that builds products and services to facilitate electronic payments, commerce, and consumer finance. Its principal business lines include a seller-focused ecosystem that provides point-of-sale hardware and software, payment processing, invoicing, payroll and lending services, and a consumer-facing platform that offers peer-to-peer payments, banking-like features, and investing. Block’s portfolio also encompasses music streaming and buy-now-pay-later capabilities through businesses acquired to broaden its reach beyond core payments.

The company was founded as Square in 2009 by Jack Dorsey and Jim McKelvey and later rebranded to Block to reflect a diversified set of businesses across payments, consumer finance, and emerging technologies.