Block, Inc. (NYSE:XYZ) CAO Sells $103,159.44 in Stock

Block, Inc. (NYSE:XYZ) CAO Ajmere Dale sold 1,467 shares of the firm’s stock in a transaction dated Friday, February 21st. The stock was sold at an average price of $70.32, for a total transaction of $103,159.44. Following the completion of the transaction, the chief accounting officer now directly owns 82,499 shares in the company, valued at $5,801,329.68. This represents a 1.75 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Ajmere Dale also recently made the following trade(s):

• On Thursday, January 2nd, Ajmere Dale sold 2,044 shares of Block stock. The stock was sold at an average price of $86.72, for a total transaction of $177,255.68.

Block Price Performance

NYSE:XYZ opened at $64.36 on Friday. The company has a current ratio of 2.07, a quick ratio of 2.07 and a debt-to-equity ratio of 0.26. Block, Inc. has a twelve month low of $55.00 and a twelve month high of $99.26. The company has a market cap of $39.89 billion, a price-to-earnings ratio of 14.15, a P/E/G ratio of 0.72 and a beta of 2.53.

Block (NYSE:XYZ) last announced its quarterly earnings data 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). Block had a net margin of 11.92% and a return on equity of 5.80%. The firm had revenue of $6.03 billion during the quarter, compared to analyst estimates of $6.23 billion. As a group, research analysts forecast that Block, Inc. will post 2.54 earnings per share for the current fiscal year.

Institutional Trading of Block

A number of hedge funds and other institutional investors have recently made changes to their positions in XYZ. International Assets Investment Management LLC acquired a new stake in Block during the third quarter worth about $58,850,000. Ballentine Partners LLC increased its holdings in Block by 11.7% in the 3rd quarter. Ballentine Partners LLC now owns 6,430 shares of the technology company’s stock worth $432,000 after acquiring an additional 671 shares in the last quarter. Allworth Financial LP raised its position in shares of Block by 7.5% during the 3rd 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. raised its position in shares of Block by 10.6% during the 3rd 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 lifted its stake in Block by 11.5% in the 3rd quarter. Forsta AP Fonden now owns 115,900 shares of the technology company’s stock valued at $7,780,000 after buying an additional 12,000 shares in the last quarter. Institutional investors and hedge funds own 70.44% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on XYZ. BNP Paribas lowered Block from an “outperform” rating to a “neutral” rating and set a $88.00 price target for the company. in a report on Wednesday, November 20th. Piper Sandler lowered their target price on Block from $101.00 to $85.00 and set an “overweight” rating for the company in a report on Monday. Keefe, Bruyette & Woods dropped their price target on Block from $100.00 to $87.00 and set a “market perform” rating on the stock in a research report on Friday, February 21st. 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. Finally, Canaccord Genuity Group dropped their target price on shares of Block from $120.00 to $100.00 and set a “buy” rating on the stock in a report on Friday, February 21st. Six research analysts have rated the stock with a hold rating and twenty-five have issued a buy rating to the company. Based on data from MarketBeat, Block currently has a consensus rating of “Moderate Buy” and a consensus 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.