Block, Inc. (NYSE:XYZ) CFO Sells $111,031.44 in Stock

Block, Inc. (NYSE:XYZ) CFO Amrita Ahuja sold 1,976 shares of Block stock in a transaction on Wednesday, April 2nd. The stock was sold at an average price of $56.19, for a total value of $111,031.44. Following the transaction, the chief financial officer now directly owns 233,878 shares of the company’s stock, valued at $13,141,604.82. This trade represents a 0.84 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

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

• On Friday, February 21st, Amrita Ahuja sold 6,345 shares of Block stock. The shares were sold at an average price of $70.32, for a total transaction of $446,180.40.

Block Stock Down 7.0 %

Block stock opened at $50.17 on Friday. The stock has a fifty day simple moving average of $69.53. Block, Inc. has a 52-week low of $47.69 and a 52-week high of $99.26. The company has a quick ratio of 2.07, a current ratio of 2.07 and a debt-to-equity ratio of 0.26. The firm has a market capitalization of $31.08 billion, a price-to-earnings ratio of 11.03, a P/E/G ratio of 0.72 and a beta of 2.77.

Block (NYSE:XYZ) last released its quarterly earnings data on Thursday, February 20th. The technology company reported $0.26 EPS for the quarter, missing the consensus estimate of $0.37 by ($0.11). Block had a net margin of 11.92% and a return on equity of 5.80%. The company had revenue of $6.03 billion during the quarter, compared to analysts’ expectations of $6.23 billion. On average, research analysts expect that Block, Inc. will post 2.54 EPS for the current fiscal year.

Hedge Funds Weigh In On Block

Institutional investors and hedge funds have recently bought and sold shares of the stock. Graypoint LLC purchased a new stake in shares of Block during the fourth quarter valued at approximately $32,445,000. Assenagon Asset Management S.A. increased its stake in Block by 391.0% during the 4th quarter. Assenagon Asset Management S.A. now owns 292,571 shares of the technology company’s stock worth $24,866,000 after buying an additional 232,989 shares during the period. Private Capital Advisors Inc. acquired a new position in Block in the 4th quarter worth $15,727,000. Geode Capital Management LLC boosted its position in Block by 1.6% in the 3rd quarter. Geode Capital Management LLC now owns 8,690,075 shares of the technology company’s stock valued at $581,923,000 after buying an additional 133,002 shares during the last quarter. Finally, Perpetual Ltd acquired a new stake in shares of Block during the fourth quarter valued at about $10,779,000. Hedge funds and other institutional investors own 70.44% of the company’s stock.

Analyst Ratings Changes

Several analysts have recently commented on XYZ shares. Macquarie reiterated an “outperform” rating and issued a $110.00 price target on shares of Block in a research report on Thursday, March 6th. Needham & Company LLC reiterated a “buy” rating and set a $90.00 target price on shares of Block in a report on Friday, February 21st. Piper Sandler cut their price target on Block from $101.00 to $85.00 and set an “overweight” rating for the company in a report on Monday, February 24th. UBS Group decreased their price objective on Block from $98.00 to $97.00 and set a “buy” rating on the stock in a research note on Friday, February 21st. Finally, BMO Capital Markets raised shares of Block from a “market perform” rating to an “outperform” rating and cut their target price for the company from $100.00 to $89.00 in a research note on Monday, February 24th. Three investment analysts have rated the stock with a hold rating and twenty-seven have assigned a buy rating to the company. According to data from MarketBeat, Block currently has a consensus rating of “Moderate Buy” and an average target price of $94.46.

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.