Ajmere Dale Sells 500 Shares of Block, Inc. (NYSE:XYZ) Stock

Block, Inc. (NYSE:XYZ) CAO Ajmere Dale sold 500 shares of the firm’s stock in a transaction dated Tuesday, April 1st. The stock was sold at an average price of $54.48, for a total value of $27,240.00. Following the sale, the chief accounting officer now directly owns 81,999 shares in the company, valued at approximately $4,467,305.52. This trade represents a 0.61 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website.

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

• On Friday, February 21st, Ajmere Dale sold 1,467 shares of Block stock. The stock was sold at an average price of $70.32, for a total value of $103,159.44.

Block Trading Down 6.7 %

Block stock traded down $3.87 during mid-day trading on Thursday, hitting $53.99. The company’s stock had a trading volume of 13,266,000 shares, compared to its average volume of 8,621,796. The business has a fifty day moving average price of $70.66. The company has a quick ratio of 2.07, a current ratio of 2.07 and a debt-to-equity ratio of 0.26. The firm has a market cap of $33.45 billion, a price-to-earnings ratio of 11.87, a PEG ratio of 0.72 and a beta of 2.77. Block, Inc. has a 1 year low of $52.25 and a 1 year high of $99.26.

Block (NYSE:XYZ) last posted 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 return on equity of 5.80% and a net margin of 11.92%. On average, equities analysts expect that Block, Inc. will post 2.54 EPS for the current fiscal year.

Hedge Funds Weigh In On Block

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Geode Capital Management LLC grew its position in shares of Block by 1.6% during the third quarter. Geode Capital Management LLC now owns 8,690,075 shares of the technology company’s stock worth $581,923,000 after buying an additional 133,002 shares in the last quarter. Graypoint LLC acquired a new stake in Block during the 4th quarter worth $32,445,000. Assenagon Asset Management S.A. lifted its position in Block by 391.0% in the fourth 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 last quarter. Nomura Asset Management Co. Ltd. boosted its stake in Block by 6.2% in the third quarter. Nomura Asset Management Co. Ltd. now owns 253,787 shares of the technology company’s stock valued at $17,037,000 after acquiring an additional 14,822 shares in the last quarter. Finally, Royal London Asset Management Ltd. grew its holdings in shares of Block by 3.9% during the third quarter. Royal London Asset Management Ltd. now owns 227,325 shares of the technology company’s stock worth $15,260,000 after purchasing an additional 8,486 shares during the last quarter. Hedge funds and other institutional investors own 70.44% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms recently commented on XYZ. Wells Fargo & Company raised their price target on shares of Block from $85.00 to $95.00 and gave the company an “overweight” rating in a research report on Thursday, January 16th. Sanford C. Bernstein set a $100.00 target price on Block in a research report on Saturday, March 8th. KeyCorp cut their price target on Block from $115.00 to $85.00 and set an “overweight” rating for the company in a research note on Tuesday, March 18th. Morgan Stanley upgraded Block from an “equal weight” rating to an “overweight” rating and increased their price target for the stock from $65.00 to $67.00 in a research report on Thursday. Finally, Canaccord Genuity Group cut their price objective on Block from $120.00 to $100.00 and set a “buy” rating for the company in a research report on Friday, February 21st. Three analysts have rated the stock with a hold rating and twenty-seven have assigned a buy rating to the company. Based on data from MarketBeat.com, Block has an average rating of “Moderate Buy” and an average target price of $94.46.

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.