Block (NYSE:XYZ) CAO Sells $38,880.40 in Stock

Block, Inc. (NYSE:XYZ) CAO Ajmere Dale sold 520 shares of the firm’s stock in a transaction that occurred on Thursday, October 2nd. The stock was sold at an average price of $74.77, for a total transaction of $38,880.40. Following the transaction, the chief accounting officer owned 103,058 shares in the company, valued at approximately $7,705,646.66. This trade represents a 0.50% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website.

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

• On Wednesday, October 1st, Ajmere Dale sold 750 shares of Block stock. The stock was sold at an average price of $72.22, for a total transaction of $54,165.00.
• On Monday, August 25th, Ajmere Dale sold 750 shares of Block stock. The stock was sold at an average price of $80.00, for a total transaction of $60,000.00.
• On Thursday, August 21st, Ajmere Dale sold 3,158 shares of Block stock. The stock was sold at an average price of $73.32, for a total transaction of $231,544.56.
• On Wednesday, July 23rd, Ajmere Dale sold 500 shares of Block stock. The stock was sold at an average price of $80.00, for a total transaction of $40,000.00.

Block Stock Performance

Shares of XYZ opened at $76.98 on Friday. The company has a current ratio of 1.96, a quick ratio of 1.96 and a debt-to-equity ratio of 0.16. The firm has a market cap of $46.93 billion, a PE ratio of 16.48, a price-to-earnings-growth ratio of 3.11 and a beta of 2.71. The company’s 50 day simple moving average is $76.11 and its 200-day simple moving average is $66.13. Block, Inc. has a 12-month low of $44.27 and a 12-month high of $99.26.

Block (NYSE:XYZ) last announced its earnings results on Thursday, August 7th. The technology company reported $0.62 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.21 by $0.41. The business had revenue of $6.05 billion for the quarter, compared to analyst estimates of $6.32 billion. Block had a net margin of 12.32% and a return on equity of 7.85%. The firm’s revenue for the quarter was down 1.6% on a year-over-year basis. As a group, equities analysts predict that Block, Inc. will post 2.54 EPS for the current year.

Institutional Investors Weigh In On Block

A number of hedge funds and other institutional investors have recently bought and sold shares of XYZ. Vanguard Group Inc. acquired a new stake in Block in the second quarter valued at $3,730,489,000. Sands Capital Management LLC acquired a new stake in Block in the second quarter valued at $702,446,000. Geode Capital Management LLC acquired a new stake in Block in the second quarter valued at $634,721,000. Dragoneer Investment Group LLC acquired a new stake in Block in the second quarter valued at $627,233,000. Finally, Ameriprise Financial Inc. acquired a new stake in Block in the second quarter valued at $535,305,000. Institutional investors and hedge funds own 70.44% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on the stock. Mizuho lifted their price objective on shares of Block from $71.00 to $88.00 and gave the company an “outperform” rating in a research report on Thursday, August 14th. Barclays lifted their price objective on shares of Block from $57.00 to $75.00 and gave the company an “overweight” rating in a research report on Monday, June 9th. Bank of America lifted their price objective on shares of Block from $88.00 to $94.00 and gave the company a “buy” rating in a research report on Friday, August 8th. Sanford C. Bernstein lifted their price objective on shares of Block from $75.00 to $90.00 and gave the company an “outperform” rating in a research report on Tuesday, July 22nd. Finally, Robert W. Baird lifted their price objective on shares of Block from $76.00 to $84.00 and gave the company an “outperform” rating in a research report on Monday, July 21st. Twenty-four investment analysts have rated the stock with a Buy rating, ten have given a Hold rating and three have given a Sell rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $80.64.

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.