Insider Selling: Block (NYSE:XYZ) CAO Sells $60,000.00 in Stock

Block, Inc. (NYSE:XYZ) CAO Ajmere Dale sold 750 shares of the company’s stock in a transaction that occurred on Wednesday, October 8th. The shares were sold at an average price of $80.00, for a total transaction of $60,000.00. Following the transaction, the chief accounting officer owned 102,308 shares in the company, valued at $8,184,640. The trade was a 0.73% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through 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 transaction of $38,880.40.
• 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 value 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 value 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 Trading Down 7.5%

Shares of NYSE:XYZ opened at $74.80 on Monday. Block, Inc. has a 52-week low of $44.27 and a 52-week high of $99.26. The business has a 50-day moving average price of $76.23 and a 200-day moving average price of $66.84. 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 stock has a market cap of $45.60 billion, a price-to-earnings ratio of 16.02, a PEG ratio of 3.02 and a beta of 2.71.

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

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in the business. Nemes Rush Group LLC purchased a new stake in shares of Block in the 2nd quarter valued at approximately $26,000. Traub Capital Management LLC acquired a new position in Block in the second quarter valued at approximately $26,000. SouthState Corp purchased a new stake in Block in the second quarter valued at $29,000. First Horizon Advisors Inc. purchased a new stake in Block in the second quarter valued at $30,000. Finally, Comprehensive Financial Planning Inc. PA purchased a new stake in Block in the second quarter valued at $31,000. 70.44% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research analysts recently issued reports on the stock. Royal Bank Of Canada restated an “outperform” rating and set a $97.00 target price (up from $63.00) on shares of Block in a research report on Friday, August 8th. Keefe, Bruyette & Woods raised their target price on Block from $80.00 to $95.00 and gave the stock an “outperform” rating in a report on Friday, August 8th. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Block in a report on Wednesday, October 8th. Cowen restated a “buy” rating on shares of Block in a research report on Friday, August 8th. Finally, BNP Paribas lowered Block from a “strong-buy” rating to a “hold” rating and set a $86.00 price objective on the stock. in a research report on Tuesday, September 2nd. Twenty-four research analysts have rated the stock with a Buy rating, ten have given a Hold rating and three have issued a Sell rating to the company. According to MarketBeat.com, Block currently has an average rating of “Moderate Buy” and a consensus target price of $80.64.

About Block

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.