Block (NYSE:XYZ) CFO Sells $611,482.60 in Stock

Block, Inc. (NYSE:XYZ) CFO Amrita Ahuja sold 9,959 shares of the firm’s stock in a transaction dated Friday, November 21st. The stock was sold at an average price of $61.40, for a total value of $611,482.60. Following the transaction, the chief financial officer owned 272,965 shares of the company’s stock, valued at $16,760,051. This trade represents a 3.52% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

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 value of $97,856.44.
• On Thursday, October 2nd, Amrita Ahuja sold 1,351 shares of Block stock. The shares were sold at an average price of $74.77, for a total transaction of $101,014.27.
• On Tuesday, September 16th, Amrita Ahuja sold 6,581 shares of Block stock. The stock was sold at an average price of $75.00, for a total transaction of $493,575.00.

Block Trading Up 2.2%

NYSE:XYZ opened at $65.11 on Friday. Block, Inc. has a 52 week low of $44.27 and a 52 week high of $99.26. The company has a debt-to-equity ratio of 0.25, a quick ratio of 2.18 and a current ratio of 2.18. The firm’s fifty day moving average is $72.21 and its 200-day moving average is $70.68. The firm has a market cap of $39.57 billion, a P/E ratio of 13.13, a P/E/G ratio of 3.64 and a beta of 2.73.

Block (NYSE:XYZ) last announced its earnings results on Thursday, November 6th. The technology company reported $0.54 earnings per share for the quarter, topping analysts’ consensus estimates of $0.25 by $0.29. The business had revenue of $6.11 billion during the quarter. Block had a net margin of 12.99% and a return on equity of 5.54%. Block’s quarterly revenue was up 2.3% on a year-over-year basis. During the same period in the prior year, the business earned $0.53 EPS. Equities analysts expect that Block, Inc. will post 2.54 earnings per share for the current year.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on XYZ shares. Macquarie upped their target price on Block from $50.00 to $67.00 and gave the company a “neutral” rating in a research report on Tuesday, August 12th. Cowen reissued a “buy” rating on shares of Block in a research note on Friday, August 8th. Stephens reaffirmed an “overweight” rating and set a $95.00 price objective on shares of Block in a research report on Thursday, November 20th. Mizuho lifted their price objective on shares of Block from $88.00 to $100.00 and gave the company an “outperform” rating in a research note on Thursday, November 20th. Finally, Keefe, Bruyette & Woods increased their target price on shares of Block from $80.00 to $95.00 and gave the stock an “outperform” rating in a research note on Friday, August 8th. Three investment analysts have rated the stock with a Strong Buy rating, twenty-one have issued a Buy rating, twelve have issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat, Block currently has an average rating of “Moderate Buy” and an average target price of $83.42.

Institutional Trading of Block

Several hedge funds have recently bought and sold shares of XYZ. S Bank Fund Management Ltd acquired a new position in Block during the second quarter worth $92,000. Praxis Investment Management Inc. bought a new stake in shares of Block during the second quarter worth about $508,000. Nordea Investment Management AB acquired a new stake in shares of Block in the 2nd quarter worth about $3,105,000. SilverOak Wealth Management LLC acquired a new stake in shares of Block in the 2nd quarter worth about $218,000. Finally, Private Trust Co. NA bought a new position in Block in the 2nd quarter valued at about $94,000. Institutional investors and hedge funds own 70.44% of the company’s stock.

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.