Key Points
- Brian Grassadonia sold 1,769 shares of Block at an average price of $60.25 on April 6 for $106,582, a 0.35% reduction in his position to 500,763 shares, and the sale was executed under a pre-arranged Rule 10b5-1 plan.
- Block beat quarterly EPS expectations ($0.65 vs. $0.26) on $6.25 billion in revenue (up 3.6% YoY); analysts hold a consensus Moderate Buy rating with a $81.72 target and forecast roughly 2.54 EPS for the current year.
Block, Inc. (NYSE:XYZ - Get Free Report) insider Brian Grassadonia sold 1,769 shares of the firm's stock in a transaction dated Monday, April 6th. The shares were sold at an average price of $60.25, for a total value of $106,582.25. Following the transaction, the insider owned 500,763 shares of the company's stock, valued at approximately $30,170,970.75. The trade was a 0.35% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.
Brian Grassadonia also recently made the following trade(s):
- On Tuesday, February 24th, Brian Grassadonia sold 10,349 shares of Block stock. The stock was sold at an average price of $50.00, for a total value of $517,450.00.
Block Trading Up 4.6%
XYZ opened at $62.74 on Thursday. The firm has a market cap of $37.59 billion, a P/E ratio of 29.88, a P/E/G ratio of 1.03 and a beta of 2.61. Block, Inc. has a 12 month low of $44.27 and a 12 month high of $82.50. The company has a current ratio of 2.20, a quick ratio of 2.20 and a debt-to-equity ratio of 0.26. The stock has a 50-day moving average of $58.38 and a 200 day moving average of $65.19.
Block (NYSE:XYZ - Get Free Report) last released its quarterly earnings results on Thursday, February 26th. The technology company reported $0.65 EPS for the quarter, topping the consensus estimate of $0.26 by $0.39. The company had revenue of $6.25 billion during the quarter. Block had a return on equity of 6.66% and a net margin of 5.40%.The company's revenue was up 3.6% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.71 EPS. As a group, research analysts forecast 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 business. Howard Capital Management Inc. boosted its position in shares of Block by 3.2% during the third quarter. Howard Capital Management Inc. now owns 4,439 shares of the technology company's stock valued at $321,000 after buying an additional 138 shares during the period. Whittier Trust Co. of Nevada Inc. boosted its position in shares of Block by 23.1% during the third quarter. Whittier Trust Co. of Nevada Inc. now owns 853 shares of the technology company's stock valued at $66,000 after buying an additional 160 shares during the period. Sound Income Strategies LLC boosted its position in shares of Block by 57.1% during the fourth quarter. Sound Income Strategies LLC now owns 443 shares of the technology company's stock valued at $29,000 after buying an additional 161 shares during the period. Jones Financial Companies Lllp boosted its position in shares of Block by 0.8% during the third quarter. Jones Financial Companies Lllp now owns 21,183 shares of the technology company's stock valued at $1,561,000 after buying an additional 167 shares during the period. Finally, EverSource Wealth Advisors LLC boosted its position in shares of Block by 33.9% during the fourth quarter. EverSource Wealth Advisors LLC now owns 707 shares of the technology company's stock valued at $46,000 after buying an additional 179 shares during the period. Hedge funds and other institutional investors own 70.44% of the company's stock.
Analyst Upgrades and Downgrades
Several research analysts recently commented on the company. Raymond James Financial upgraded Block to a "moderate buy" rating in a research report on Friday, February 27th. Bank of America dropped their price target on Block from $85.00 to $80.00 and set a "buy" rating for the company in a research report on Wednesday, March 25th. Weiss Ratings reaffirmed a "hold (c)" rating on shares of Block in a research note on Friday, March 27th. Rothschild & Co Redburn raised shares of Block from a "sell" rating to a "neutral" rating and lifted their price target for the stock from $45.00 to $55.00 in a research note on Wednesday, March 18th. Finally, Needham & Company LLC lifted their price target on shares of Block from $80.00 to $90.00 and gave the stock a "buy" rating in a research note on Friday, February 27th. Three research analysts have rated the stock with a Strong Buy rating, twenty-seven have assigned a Buy rating, eight have assigned a Hold rating and one has assigned a Sell rating to the company's stock. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price of $81.72.
Get Our Latest Analysis on XYZ
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.
Further Reading
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