Block, Inc. (NYSE:XYZ) CFO Amrita Ahuja Sells 1,976 Shares of Stock

Block, Inc. (NYSE:XYZ) CFO Amrita Ahuja sold 1,976 shares of the business’s stock in a transaction on Wednesday, April 2nd. The shares were sold at an average price of $56.19, for a total transaction of $111,031.44. Following the completion of the transaction, the chief financial officer now owns 233,878 shares of the company’s stock, valued at approximately $13,141,604.82. This represents a 0.84 % decrease in their ownership of the stock. The transaction was disclosed in a document filed 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 Trading Down 7.0 %

Shares of XYZ opened at $50.17 on Friday. The company has a debt-to-equity ratio of 0.26, a current ratio of 2.07 and a quick ratio of 2.07. The firm has a 50-day moving average price of $69.53. Block, Inc. has a 12-month low of $47.69 and a 12-month high of $99.26. The stock 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 announced its quarterly earnings results on Thursday, February 20th. The technology company reported $0.26 earnings per share (EPS) 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 analyst estimates of $6.23 billion. Block had a return on equity of 5.80% and a net margin of 11.92%. Equities research analysts predict that Block, Inc. will post 2.54 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Block

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

Analyst Ratings Changes

XYZ has been the topic of a number of analyst reports. Barclays dropped their target price on Block from $112.00 to $97.00 and set an “overweight” rating on the stock in a research report on Monday, February 24th. KeyCorp dropped their price objective on Block from $115.00 to $85.00 and set an “overweight” rating on the stock in a report on Tuesday, March 18th. Canaccord Genuity Group reduced their target price on Block from $120.00 to $100.00 and set a “buy” rating for the company in a research note on Friday, February 21st. Keefe, Bruyette & Woods raised shares of Block from a “market perform” rating to an “outperform” rating and dropped their price target for the company from $87.00 to $80.00 in a research note on Tuesday, March 18th. Finally, UBS Group reduced their price objective on shares of Block from $98.00 to $97.00 and set a “buy” rating for the company in a research report on Friday, February 21st. Three investment analysts have rated the stock with a hold rating and twenty-seven have assigned a buy rating to the company’s stock. Based on 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.