Block, Inc. (NYSE:XYZ) CFO Amrita Ahuja Sells 6,345 Shares

Block, Inc. (NYSE:XYZ) CFO Amrita Ahuja sold 6,345 shares of the stock in a transaction on Friday, February 21st. The shares were sold at an average price of $70.32, for a total transaction of $446,180.40. Following the completion of the transaction, the chief financial officer now owns 235,854 shares of the company’s stock, valued at approximately $16,585,253.28. This represents a 2.62 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through 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 transaction of $129,953.04.

Block Stock Up 3.9 %

Shares of XYZ opened at $65.29 on Thursday. The company has a current ratio of 2.07, a quick ratio of 2.07 and a debt-to-equity ratio of 0.26. The firm has a market cap of $40.47 billion, a PE ratio of 14.35, a PEG ratio of 0.72 and a beta of 2.53. Block, Inc. has a 12-month low of $55.00 and a 12-month high of $99.26.

Block (NYSE:XYZ) last issued its earnings results on Thursday, February 20th. The technology company reported $0.26 earnings per share (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 the consensus estimate of $6.23 billion. As a group, sell-side analysts predict that Block, Inc. will post 2.54 EPS for the current year.

Analyst Upgrades and Downgrades

A number of brokerages have commented on XYZ. Morgan Stanley upgraded shares of Block from an “underweight” rating to an “equal weight” rating and set a $65.00 price target for the company in a research note on Tuesday. Sanford C. Bernstein raised their target price on Block from $90.00 to $120.00 and gave the stock an “outperform” rating in a research report on Monday, December 2nd. Royal Bank of Canada reiterated an “outperform” rating and issued a $110.00 price target on shares of Block in a research report on Thursday, February 20th. BMO Capital Markets raised Block from a “market perform” rating to an “outperform” rating and cut their price objective for the company from $100.00 to $89.00 in a report on Monday. Finally, Raymond James reduced their target price on shares of Block from $115.00 to $103.00 and set an “outperform” rating on the stock in a research note on Friday, February 21st. Six analysts have rated the stock with a hold rating and twenty-five have issued a buy rating to the company’s stock. According to data from MarketBeat, Block currently has a consensus rating of “Moderate Buy” and an average target price of $96.31.

Hedge Funds Weigh In On Block

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. International Assets Investment Management LLC acquired a new position in shares of Block in the 3rd quarter valued at $58,850,000. Ballentine Partners LLC increased its holdings in Block by 11.7% in the third quarter. Ballentine Partners LLC now owns 6,430 shares of the technology company’s stock valued at $432,000 after purchasing an additional 671 shares during the last quarter. Allworth Financial LP lifted its stake in Block by 7.5% in the third quarter. Allworth Financial LP now owns 2,841 shares of the technology company’s stock valued at $191,000 after buying an additional 197 shares during the period. Mirae Asset Global Investments Co. Ltd. boosted its holdings in Block by 10.6% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 96,425 shares of the technology company’s stock worth $6,458,000 after buying an additional 9,238 shares during the last quarter. Finally, Forsta AP Fonden boosted its holdings in Block by 11.5% during the third quarter. Forsta AP Fonden now owns 115,900 shares of the technology company’s stock worth $7,780,000 after buying an additional 12,000 shares during the last quarter. 70.44% of the stock is owned by institutional investors.

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.