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

Block, Inc. (NYSE:XYZ) CAO Ajmere Dale sold 520 shares of the firm’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 $38,880.40. Following the completion of the sale, the chief accounting officer owned 103,058 shares of the company’s stock, valued at $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 accessible through the SEC website.

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 shares were 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 value 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 value of $40,000.00.

Block Stock Performance

Shares of XYZ stock opened at $76.98 on Friday. The stock has a fifty day moving average price of $76.11 and a 200 day moving average price of $66.16. 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 stock has a market cap 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.

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

Wall Street Analysts Forecast Growth

XYZ has been the subject of a number of research reports. Jefferies Financial Group cut their target price 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. BNP Paribas Exane downgraded Block from an “outperform” rating to a “neutral” rating and set a $86.00 price objective for the company. in a research report on Tuesday, September 2nd. Sanford C. Bernstein upped their target price on Block from $75.00 to $90.00 and gave the company an “outperform” rating in a research note on Tuesday, July 22nd. Barclays increased their target price on Block from $57.00 to $75.00 and gave the company an “overweight” rating in a report on Monday, June 9th. Finally, Canaccord Genuity Group reissued a “buy” rating and issued a $80.00 price target on shares of Block in a report on Tuesday, September 23rd. Twenty-four analysts have rated the stock with a Buy rating, ten have given a Hold rating and three have issued a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $80.64.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of XYZ. Vanguard Group Inc. acquired a new stake in shares of Block in the second quarter worth approximately $3,730,489,000. Sands Capital Management LLC acquired a new position in Block during the second quarter worth approximately $702,446,000. Geode Capital Management LLC purchased a new position in Block during the second quarter worth approximately $634,721,000. Dragoneer Investment Group LLC acquired a new position in shares of Block in the 2nd quarter valued at $627,233,000. Finally, Ameriprise Financial Inc. purchased a new stake in shares of Block during the 2nd quarter valued at $535,305,000. Institutional investors and hedge funds own 70.44% of the company’s stock.

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.