Block (NYSE:XYZ) CFO Sells $101,014.27 in Stock

Block, Inc. (NYSE:XYZ) CFO Amrita Ahuja sold 1,351 shares of the company’s stock in a transaction dated Thursday, October 2nd. The shares were sold at an average price of $74.77, for a total transaction of $101,014.27. Following the transaction, the chief financial officer directly owned 284,200 shares of the company’s stock, valued at $21,249,634. This represents a 0.47% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website.

Amrita Ahuja also recently made the following trade(s):

• On Friday, October 3rd, Amrita Ahuja sold 1,276 shares of Block stock. The shares were sold at an average price of $76.69, for a total transaction of $97,856.44.
• On Tuesday, September 16th, Amrita Ahuja sold 6,581 shares of Block stock. The shares were sold at an average price of $75.00, for a total transaction of $493,575.00.
• On Friday, August 22nd, Amrita Ahuja sold 6,299 shares of Block stock. The shares were sold at an average price of $75.00, for a total transaction of $472,425.00.
• On Thursday, August 21st, Amrita Ahuja sold 9,966 shares of Block stock. The shares were sold at an average price of $73.20, for a total transaction of $729,511.20.
• On Monday, July 21st, Amrita Ahuja sold 16,358 shares of Block stock. The stock was sold at an average price of $78.60, for a total transaction of $1,285,738.80.

Block Stock Performance

NYSE:XYZ opened at $81.11 on Thursday. Block, Inc. has a 12-month low of $44.27 and a 12-month high of $99.26. The company has a quick ratio of 1.96, a current ratio of 1.96 and a debt-to-equity ratio of 0.16. The firm has a market capitalization of $49.44 billion, a PE ratio of 17.37, a price-to-earnings-growth ratio of 3.19 and a beta of 2.71. The firm has a 50-day moving average price of $76.14 and a 200 day moving average price of $66.50.

Block (NYSE:XYZ) last posted 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. Block had a net margin of 12.32% and a return on equity of 7.85%. The firm had revenue of $6.05 billion during the quarter, compared to analyst estimates of $6.32 billion. The company’s revenue for the quarter was down 1.6% compared to the same quarter last year. Research analysts anticipate that Block, Inc. will post 2.54 earnings per share for the current fiscal year.

Institutional Trading of Block

Hedge funds have recently modified their holdings of the stock. Traub Capital Management LLC bought a new stake in shares of Block during the second quarter valued at approximately $26,000. Nemes Rush Group LLC bought a new stake in shares of Block during the second quarter valued at approximately $26,000. SouthState Corp bought a new stake in shares of Block during the second quarter valued at approximately $29,000. First Horizon Advisors Inc. bought a new stake in shares of Block during the second quarter valued at approximately $30,000. Finally, Comprehensive Financial Planning Inc. PA bought a new stake in shares of Block during the second quarter valued at approximately $31,000. 70.44% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several research analysts recently issued reports on the stock. Jefferies Financial Group dropped their price target on shares of Block from $95.00 to $90.00 and set a “buy” rating for the company in a research report on Friday, August 15th. Evercore ISI increased their price target on shares of Block from $75.00 to $85.00 and gave the stock an “outperform” rating in a research report on Thursday, July 17th. KeyCorp upped their price objective on shares of Block from $60.00 to $100.00 and gave the stock an “overweight” rating in a research note on Friday, August 8th. Sanford C. Bernstein upped their price objective on shares of Block from $75.00 to $90.00 and gave the stock an “outperform” rating in a research note on Tuesday, July 22nd. Finally, Truist Financial upped their price objective on shares of Block from $65.00 to $70.00 and gave the stock a “sell” rating in a research note on Thursday, August 21st. Twenty-four equities research analysts have rated the stock with a Buy rating, ten have assigned a Hold rating and three have given a Sell rating to the company’s stock. According to MarketBeat.com, Block currently has an average rating of “Moderate Buy” and a consensus price target 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.