Block, Inc. (NYSE:XYZ) Insider Dhananjay Prasanna Sells 11,318 Shares

Block, Inc. (NYSE:XYZ) insider Dhananjay Prasanna sold 11,318 shares of the company’s stock in a transaction dated Tuesday, May 27th. The stock was sold at an average price of $61.41, for a total value of $695,038.38. Following the completion of the sale, the insider now owns 318,751 shares in the company, valued at $19,574,498.91. The trade was a 3.43% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink.

Block Trading Up 0.7%

Shares of XYZ opened at $62.22 on Friday. The stock has a market cap of $38.27 billion, a price-to-earnings ratio of 13.67, a PEG ratio of 0.72 and a beta of 2.83. The firm has a 50 day simple moving average of $55.29. Block, Inc. has a twelve month low of $44.27 and a twelve month high of $99.26. The company has a debt-to-equity ratio of 0.26, a current ratio of 2.07 and a quick ratio of 2.07.

Analysts Set New Price Targets

XYZ has been the topic of a number of recent research reports. Bank of America lowered their target price on Block from $94.00 to $80.00 and set a “buy” rating on the stock in a research note on Thursday, April 17th. BNP Paribas upgraded Block from a “hold” rating to a “strong-buy” rating in a research note on Tuesday. Seaport Res Ptn downgraded Block from a “strong-buy” rating to a “hold” rating in a research note on Friday, May 2nd. Argus set a $59.00 price target on Block in a report on Monday, May 5th. Finally, Needham & Company LLC reduced their price target on Block from $90.00 to $60.00 and set a “buy” rating for the company in a report on Friday, May 2nd. Ten analysts have rated the stock with a hold rating, twenty-two have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $75.23.

Institutional Inflows and Outflows

An institutional investor recently raised its position in Block stock. Empirical Financial Services LLC d.b.a. Empirical Wealth Management boosted its position in shares of Block, Inc. (NYSE:XYZ) by 183.8% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 9,154 shares of the technology company’s stock after purchasing an additional 5,929 shares during the quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management’s holdings in Block were worth $778,000 at the end of the most recent reporting period. 70.44% of the stock is owned by institutional investors and hedge funds.

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.