Block, Inc. (NYSE:XYZ - Get Free Report) insider Brian Grassadonia sold 10,349 shares of the company's stock in a transaction dated Tuesday, February 24th. The shares were sold at an average price of $50.00, for a total value of $517,450.00. Following the sale, the insider owned 503,784 shares in the company, valued at approximately $25,189,200. The trade was a 2.01% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website.
Brian Grassadonia also recently made the following trade(s):
- On Tuesday, January 6th, Brian Grassadonia sold 1,983 shares of Block stock. The stock was sold at an average price of $68.52, for a total value of $135,875.16.
- On Friday, January 2nd, Brian Grassadonia sold 1,038 shares of Block stock. The shares were sold at an average price of $63.98, for a total value of $66,411.24.
Block Price Performance
Block stock opened at $50.93 on Wednesday. The stock has a market capitalization of $30.95 billion, a price-to-earnings ratio of 10.27, a PEG ratio of 1.04 and a beta of 2.67. Block, Inc. has a 52-week low of $44.27 and a 52-week high of $82.50. The company has a debt-to-equity ratio of 0.25, a quick ratio of 2.18 and a current ratio of 2.18. The stock's 50 day moving average price is $61.73 and its two-hundred day moving average price is $68.50.
Institutional Trading of Block
Institutional investors and hedge funds have recently modified their holdings of the stock. Walser Wealth Management Company A Ltd Liability Co bought a new position in shares of Block in the fourth quarter valued at approximately $229,000. Invesco Ltd. grew its holdings in Block by 40.2% during the fourth quarter. Invesco Ltd. now owns 5,299,033 shares of the technology company's stock worth $344,914,000 after buying an additional 1,520,735 shares in the last quarter. Axxcess Wealth Management LLC raised its position in Block by 24.2% in the 4th quarter. Axxcess Wealth Management LLC now owns 4,454 shares of the technology company's stock valued at $290,000 after buying an additional 869 shares during the last quarter. Corient Private Wealth LLC raised its position in Block by 79.4% in the 4th quarter. Corient Private Wealth LLC now owns 45,462 shares of the technology company's stock valued at $2,959,000 after buying an additional 20,115 shares during the last quarter. Finally, Vident Advisory LLC lifted its stake in Block by 33.1% during the 4th quarter. Vident Advisory LLC now owns 96,709 shares of the technology company's stock valued at $6,295,000 after acquiring an additional 24,032 shares in the last quarter. 70.44% of the stock is owned by hedge funds and other institutional investors.
Wall Street Analyst Weigh In
XYZ has been the subject of a number of research reports. Oppenheimer restated an "outperform" rating and issued a $85.00 price target on shares of Block in a report on Friday, November 7th. BTIG Research reissued a "buy" rating and set a $90.00 price objective on shares of Block in a research report on Thursday, November 20th. The Goldman Sachs Group decreased their target price on Block from $96.00 to $82.00 and set a "buy" rating for the company in a research report on Friday, November 7th. Zacks Research downgraded Block from a "strong-buy" rating to a "hold" rating in a research note on Monday, November 10th. Finally, Cantor Fitzgerald reduced their price objective on Block from $87.00 to $70.00 and set an "overweight" rating for the company in a research note on Tuesday, February 17th. Two research analysts have rated the stock with a Strong Buy rating, twenty-three have given a Buy rating, nine have issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of $81.50.
Read Our Latest Research Report on Block
Block Company Profile
(
Get Free Report)
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.
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