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

Block, Inc. (NYSE:XYZ) CFO Amrita Ahuja sold 1,976 shares of the firm’s stock in a transaction on Wednesday, April 2nd. The shares were sold at an average price of $56.19, for a total value of $111,031.44. Following the completion of the sale, the chief financial officer now owns 233,878 shares in the company, 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 filing with the Securities & Exchange Commission, which is available through this link.

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 value of $446,180.40.

Block Stock Down 7.0 %

Shares of NYSE:XYZ opened at $50.17 on Friday. Block, Inc. has a 52 week low of $47.69 and a 52 week high of $99.26. The firm has a 50-day moving average price of $69.53. The firm has a market capitalization of $31.08 billion, a P/E ratio of 11.03, a P/E/G ratio of 0.72 and a beta of 2.77. The company has a debt-to-equity ratio of 0.26, a quick ratio of 2.07 and a current ratio of 2.07.

Block (NYSE:XYZ) last posted its quarterly earnings results on Thursday, February 20th. The technology company reported $0.26 EPS for the quarter, missing the consensus estimate of $0.37 by ($0.11). Block had a net margin of 11.92% and a return on equity of 5.80%. The business had revenue of $6.03 billion during the quarter, compared to analyst estimates of $6.23 billion. Analysts expect that Block, Inc. will post 2.54 EPS for the current year.

Wall Street Analyst Weigh In

XYZ has been the subject of a number of research analyst reports. Macquarie reaffirmed an “outperform” rating and issued a $110.00 price target on shares of Block in a report on Thursday, March 6th. Raymond James dropped their target price on shares of Block from $115.00 to $103.00 and set an “outperform” rating on the stock in a research report on Friday, February 21st. Piper Sandler reduced their price target on shares of Block from $101.00 to $85.00 and set an “overweight” rating for the company in a research report on Monday, February 24th. Needham & Company LLC restated a “buy” rating and issued a $90.00 price objective on shares of Block in a research note on Friday, February 21st. Finally, Keefe, Bruyette & Woods upgraded Block from a “market perform” rating to an “outperform” rating and cut their target price for the stock from $87.00 to $80.00 in a research report on Tuesday, March 18th. Three equities research analysts have rated the stock with a hold rating and twenty-seven have given a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $94.46.

Institutional Investors Weigh In On Block

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Geode Capital Management LLC increased its holdings in shares of Block by 1.6% in the 3rd quarter. Geode Capital Management LLC now owns 8,690,075 shares of the technology company’s stock valued at $581,923,000 after purchasing an additional 133,002 shares in the last quarter. Graypoint LLC acquired a new position in Block during the fourth quarter worth about $32,445,000. Assenagon Asset Management S.A. grew its position in Block by 391.0% during the fourth quarter. Assenagon Asset Management S.A. now owns 292,571 shares of the technology company’s stock worth $24,866,000 after buying an additional 232,989 shares during the period. Nomura Asset Management Co. Ltd. increased its holdings 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 buying an additional 14,822 shares in the last quarter. Finally, Royal London Asset Management Ltd. lifted its position in shares of Block by 3.9% during the 3rd quarter. Royal London Asset Management Ltd. now owns 227,325 shares of the technology company’s stock valued at $15,260,000 after acquiring an additional 8,486 shares during the period. Institutional investors and hedge funds own 70.44% of the company’s stock.

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.