Ajmere Dale Sells 750 Shares of Block (NYSE:XYZ) Stock

Block, Inc. (NYSE:XYZ) CAO Ajmere Dale sold 750 shares of Block stock in a transaction on Wednesday, October 1st. The shares were sold at an average price of $72.22, for a total value of $54,165.00. Following the completion of the transaction, the chief accounting officer owned 103,578 shares in the company, valued at approximately $7,480,403.16. The trade was a 0.72% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website.

Ajmere Dale also recently made the following trade(s):

• On Thursday, October 2nd, Ajmere Dale sold 520 shares of Block stock. The shares were sold at an average price of $74.77, for a total value of $38,880.40.
• On Monday, August 25th, Ajmere Dale sold 750 shares of Block stock. The stock was sold at an average price of $80.00, for a total value of $60,000.00.
• On Thursday, August 21st, Ajmere Dale sold 3,158 shares of Block stock. The shares were sold at an average price of $73.32, for a total transaction of $231,544.56.
• On Wednesday, July 23rd, Ajmere Dale sold 500 shares of Block stock. The shares were sold at an average price of $80.00, for a total value of $40,000.00.

Block Stock Performance

Block stock opened at $76.98 on Friday. The business has a 50 day moving average of $76.11 and a 200-day moving average of $66.16. The company has a market capitalization of $46.93 billion, a P/E ratio of 16.48, a P/E/G ratio of 3.11 and a beta of 2.71. Block, Inc. has a 1 year low of $44.27 and a 1 year high of $99.26. The company has a debt-to-equity ratio of 0.16, a current ratio of 1.96 and a quick ratio of 1.96.

Block (NYSE:XYZ) last announced its quarterly earnings results on Thursday, August 7th. The technology company reported $0.62 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.21 by $0.41. The firm had revenue of $6.05 billion during the quarter, compared to analysts’ expectations of $6.32 billion. Block had a net margin of 12.32% and a return on equity of 7.85%. The firm’s revenue for the quarter was down 1.6% on a year-over-year basis. On average, equities research analysts predict that Block, Inc. will post 2.54 earnings per share for the current year.

Hedge Funds Weigh In On Block

A number of institutional investors and hedge funds have recently modified their holdings of XYZ. Argonautica Private Wealth Management Inc. bought a new stake in shares of Block in the 2nd quarter valued at $602,000. Private Capital Advisors Inc. bought a new stake in Block in the second quarter valued at $380,000. Crewe Advisors LLC acquired a new position in shares of Block during the second quarter valued at about $46,000. Stratos Wealth Advisors LLC bought a new position in shares of Block during the 2nd quarter worth about $565,000. Finally, Cidel Asset Management Inc. acquired a new stake in shares of Block in the 2nd quarter valued at about $311,000. 70.44% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several research analysts have commented on the company. Monness Crespi & Hardt lifted their target price on Block from $75.00 to $95.00 and gave the stock a “buy” rating in a report on Monday, August 4th. Evercore ISI raised their price objective on Block from $75.00 to $85.00 and gave the stock an “outperform” rating in a research report on Thursday, July 17th. Weiss Ratings reiterated a “hold (c+)” rating on shares of Block in a report on Saturday, September 27th. Piper Sandler reissued an “underweight” rating and set a $58.00 target price (up previously from $50.00) on shares of Block in a research report on Friday, August 8th. Finally, Keefe, Bruyette & Woods boosted their price target on shares of Block from $80.00 to $95.00 and gave the stock an “outperform” rating in a research report on Friday, August 8th. Twenty-four investment analysts have rated the stock with a Buy rating, ten have issued a Hold rating and three have assigned a Sell rating to the stock. Based on data from MarketBeat.com, Block presently has a consensus rating of “Moderate Buy” and a consensus target price of $80.64.

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.