Insider Selling: Block, Inc. (NYSE:XYZ) CFO Sells 6,345 Shares of Stock

Block, Inc. (NYSE:XYZ) CFO Amrita Ahuja sold 6,345 shares of the firm’s stock in a transaction on Friday, February 21st. The stock was sold at an average price of $70.32, for a total value of $446,180.40. Following the completion of the sale, the chief financial officer now directly owns 235,854 shares of the company’s stock, valued at $16,585,253.28. The trade was a 2.62 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink.

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

• On Thursday, January 2nd, Amrita Ahuja sold 1,502 shares of Block stock. The stock was sold at an average price of $86.52, for a total value of $129,953.04.

Block Trading Down 4.5 %

NYSE XYZ opened at $62.93 on Wednesday. Block, Inc. has a one year low of $55.00 and a one year high of $99.26. The stock has a market capitalization of $39.00 billion, a P/E ratio of 13.83, a price-to-earnings-growth ratio of 0.72 and a beta of 2.53. The company has a quick ratio of 2.07, a current ratio of 2.07 and a debt-to-equity ratio of 0.26.

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

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of XYZ. International Assets Investment Management LLC purchased a new position in Block in the third quarter worth about $58,850,000. Ballentine Partners LLC boosted its position in Block by 11.7% in the third quarter. Ballentine Partners LLC now owns 6,430 shares of the technology company’s stock worth $432,000 after purchasing an additional 671 shares during the last quarter. Allworth Financial LP boosted its position in Block by 7.5% in the third quarter. Allworth Financial LP now owns 2,841 shares of the technology company’s stock worth $191,000 after purchasing an additional 197 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. boosted its position in Block by 10.6% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 96,425 shares of the technology company’s stock worth $6,458,000 after purchasing an additional 9,238 shares during the last quarter. Finally, Forsta AP Fonden boosted its position in Block by 11.5% in the third quarter. Forsta AP Fonden now owns 115,900 shares of the technology company’s stock worth $7,780,000 after purchasing an additional 12,000 shares during the last quarter. 70.44% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on XYZ shares. Citigroup increased their price objective on Block from $90.00 to $108.00 and gave the stock a “buy” rating in a report on Tuesday, January 14th. Raymond James decreased their price objective on Block from $115.00 to $103.00 and set an “outperform” rating for the company in a report on Friday, February 21st. Royal Bank of Canada reiterated an “outperform” rating and issued a $110.00 price objective on shares of Block in a report on Thursday, February 20th. William Blair reiterated an “outperform” rating on shares of Block in a report on Friday, November 15th. Finally, Wells Fargo & Company increased their price objective on Block from $85.00 to $95.00 and gave the stock an “overweight” rating in a report on Thursday, January 16th. Six investment analysts have rated the stock with a hold rating and twenty-five have given a buy rating to the stock. According to MarketBeat.com, Block presently has an average rating of “Moderate Buy” and an average price target of $96.31.

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.