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 company’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 transaction, the chief financial officer now directly owns 235,854 shares in the company, valued at approximately $16,585,253.28. This represents a 2.62 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website.

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

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

Block Stock Down 4.5 %

Shares of XYZ stock traded down $2.99 during trading on Tuesday, reaching $62.93. 18,768,939 shares of the company’s stock were exchanged, compared to its average volume of 7,432,469. Block, Inc. has a twelve month low of $55.00 and a twelve month high of $99.26. The company has a current ratio of 2.07, a quick ratio of 2.07 and a debt-to-equity ratio of 0.26. The firm has a market capitalization of $39.00 billion, a PE ratio of 13.83, a PEG ratio of 0.72 and a beta of 2.53.

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

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on XYZ shares. Morgan Stanley upgraded shares of Block from an “underweight” rating to an “equal weight” rating and set a $65.00 target price on the stock in a research report on Tuesday. The Goldman Sachs Group cut their price objective on shares of Block from $109.00 to $94.00 and set a “buy” rating on the stock in a report on Friday. BNP Paribas lowered shares of Block from an “outperform” rating to a “neutral” rating and set a $88.00 target price for the company. in a report on Wednesday, November 20th. Oppenheimer raised Block from a “market perform” rating to an “outperform” rating and set a $115.00 price target on the stock in a research note on Thursday, December 19th. Finally, Macquarie raised their price target on Block from $100.00 to $110.00 and gave the stock an “outperform” rating in a research report on Tuesday, December 10th. Six investment analysts have rated the stock with a hold rating and twenty-five have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $96.31.

Hedge Funds Weigh In On Block

Institutional investors and hedge funds have recently modified their holdings of the business. Empirical Financial Services LLC d.b.a. Empirical Wealth Management lifted its position in Block by 183.8% during the fourth quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management now owns 9,154 shares of the technology company’s stock worth $778,000 after purchasing an additional 5,929 shares during the period. Guerra Pan Advisors LLC bought a new stake in shares of Block during the 4th quarter worth $211,000. Moody Lynn & Lieberson LLC acquired a new position in Block during the fourth quarter worth about $3,775,000. Toth Financial Advisory Corp boosted its stake in shares of Block by 18,150.0% in the 4th quarter. Toth Financial Advisory Corp now owns 7,300 shares of the technology company’s stock valued at $620,000 after purchasing an additional 7,260 shares in the last quarter. Finally, Nepsis Inc. bought a new stake in shares of Block during the 4th quarter valued at approximately $9,769,000. 70.44% of the stock is currently owned by institutional investors and hedge funds.

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.