Block, Inc. (NYSE:XYZ) CFO Amrita Ahuja 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 dated Friday, February 21st. The shares were sold at an average price of $70.32, for a total value of $446,180.40. Following the sale, the chief financial officer now owns 235,854 shares in the company, valued at approximately $16,585,253.28. This represents a 2.62 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at 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 shares were sold at an average price of $86.52, for a total value of $129,953.04.

Block Price Performance

NYSE:XYZ opened at $62.93 on Wednesday. The company has a market cap of $39.00 billion, a PE ratio of 13.83, a P/E/G ratio of 0.72 and a beta of 2.53. Block, Inc. has a fifty-two week low of $55.00 and a fifty-two 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.

Block (NYSE:XYZ) last released 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). The company had revenue of $6.03 billion for the quarter, compared to analysts’ expectations of $6.23 billion. Block had a net margin of 11.92% and a return on equity of 5.80%. As a group, research analysts forecast that Block, Inc. will post 2.54 earnings per share for the current year.

Institutional Trading of Block

Institutional investors have recently made changes to their positions in the stock. SouthState Corp boosted its stake in shares of Block by 85.3% during the third quarter. SouthState Corp now owns 391 shares of the technology company’s stock valued at $26,000 after purchasing an additional 180 shares during the period. Versant Capital Management Inc boosted its stake in shares of Block by 67.7% during the fourth quarter. Versant Capital Management Inc now owns 394 shares of the technology company’s stock valued at $33,000 after purchasing an additional 159 shares during the period. MassMutual Private Wealth & Trust FSB lifted its stake in Block by 48.2% in the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 418 shares of the technology company’s stock worth $36,000 after acquiring an additional 136 shares during the period. True Wealth Design LLC lifted its stake in Block by 64.7% in the third quarter. True Wealth Design LLC now owns 494 shares of the technology company’s stock worth $33,000 after acquiring an additional 194 shares during the period. Finally, Rosenberg Matthew Hamilton lifted its stake in Block by 18.3% in the fourth quarter. Rosenberg Matthew Hamilton now owns 982 shares of the technology company’s stock worth $83,000 after acquiring an additional 152 shares during the period. Hedge funds and other institutional investors own 70.44% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on XYZ. Citigroup upped their price target on Block from $90.00 to $108.00 and gave the company a “buy” rating in a research report on Tuesday, January 14th. Monness Crespi & Hardt upgraded Block from a “neutral” rating to a “buy” rating and set a $115.00 price target on the stock in a research report on Friday, December 13th. Wells Fargo & Company upped their price target on Block from $85.00 to $95.00 and gave the company an “overweight” rating in a research report on Thursday, January 16th. Royal Bank of Canada reiterated an “outperform” rating and set a $110.00 price target on shares of Block in a research report on Thursday, February 20th. Finally, BMO Capital Markets upgraded Block from a “market perform” rating to an “outperform” rating and decreased their price target for the company from $100.00 to $89.00 in a research report on Monday. Six equities research analysts have rated the stock with a hold rating and twenty-five have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $96.31.

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.