Block (NYSE:XYZ) CAO Ajmere Dale Sells 520 Shares

Block, Inc. (NYSE:XYZ) CAO Ajmere Dale sold 520 shares of the stock in a transaction dated Thursday, October 2nd. The stock was sold at an average price of $74.77, for a total transaction of $38,880.40. Following the transaction, the chief accounting officer directly owned 103,058 shares of the company’s stock, valued at approximately $7,705,646.66. This trade represents a 0.50% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink.

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

• On Wednesday, October 1st, Ajmere Dale sold 750 shares of Block stock. The stock was sold at an average price of $72.22, for a total transaction of $54,165.00.
• 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 transaction of $60,000.00.
• On Thursday, August 21st, Ajmere Dale sold 3,158 shares of Block stock. The stock was 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 stock was sold at an average price of $80.00, for a total transaction of $40,000.00.

Block Stock Up 0.2%

Shares of XYZ opened at $76.98 on Friday. The stock has a market capitalization of $46.93 billion, a PE 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 quick ratio of 1.96 and a current ratio of 1.96. The company’s 50-day simple moving average is $76.11 and its 200-day simple moving average is $66.13.

Block (NYSE:XYZ) last issued its quarterly earnings results on Thursday, August 7th. The technology company reported $0.62 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.21 by $0.41. The business had revenue of $6.05 billion for 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 company’s quarterly revenue was down 1.6% compared to the same quarter last year. Analysts forecast that Block, Inc. will post 2.54 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several analysts have recently issued reports on XYZ shares. Barclays increased their price target on shares of Block from $57.00 to $75.00 and gave the stock an “overweight” rating in a research report on Monday, June 9th. Jefferies Financial Group reduced their target price on shares of Block from $95.00 to $90.00 and set a “buy” rating on the stock in a report on Friday, August 15th. Compass Point reaffirmed a “sell” rating and issued a $65.00 target price (down previously from $80.00) on shares of Block in a report on Friday, August 8th. Sanford C. Bernstein raised their target price on shares of Block from $75.00 to $90.00 and gave the company an “outperform” rating in a report on Tuesday, July 22nd. Finally, Deutsche Bank Aktiengesellschaft set a $82.00 target price on shares of Block and gave the company a “buy” rating in a report on Thursday, July 17th. Twenty-four equities research analysts have rated the stock with a Buy rating, ten have issued a Hold rating and three have given a Sell rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $80.64.

Hedge Funds Weigh In On Block

Several hedge funds have recently added to or reduced their stakes in the stock. Aaron Wealth Advisors LLC purchased a new position in Block in the third quarter valued at approximately $555,000. GAMMA Investing LLC purchased a new position in Block in the third quarter valued at approximately $316,000. Bank of New Hampshire purchased a new position in Block in the third quarter valued at approximately $86,000. Praxis Investment Management Inc. increased its stake in Block by 62.4% in the third quarter. Praxis Investment Management Inc. now owns 12,145 shares of the technology company’s stock valued at $878,000 after purchasing an additional 4,665 shares during the last quarter. Finally, Corient Private Wealth LLC purchased a new position in Block in the second quarter valued at approximately $1,560,000. 70.44% of the stock is currently owned by hedge funds and other institutional investors.

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.