Amrita Ahuja Sells 1,101 Shares of Block (NYSE:XYZ) Stock

Block, Inc. (NYSE:XYZ) CFO Amrita Ahuja sold 1,101 shares of the company’s stock in a transaction on Friday, January 2nd. The shares were sold at an average price of $63.98, for a total transaction of $70,441.98. Following the sale, the chief financial officer directly owned 271,864 shares in the company, valued at $17,393,858.72. This trade represents a 0.40% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link.

Amrita Ahuja also recently made the following trade(s):

• On Friday, November 21st, Amrita Ahuja sold 9,959 shares of Block stock. The stock was sold at an average price of $61.40, for a total value of $611,482.60.

Block Trading Up 2.2%

NYSE XYZ traded up $1.49 during trading hours on Tuesday, hitting $69.94. 5,467,033 shares of the company’s stock were exchanged, compared to its average volume of 6,802,261. Block, Inc. has a 1-year low of $44.27 and a 1-year high of $94.25. The company has a current ratio of 2.18, a quick ratio of 2.18 and a debt-to-equity ratio of 0.25. The stock has a 50-day simple moving average of $65.35 and a 200 day simple moving average of $71.45. The firm has a market cap of $42.50 billion, a price-to-earnings ratio of 14.10, a PEG ratio of 1.20 and a beta of 2.66.

Block (NYSE:XYZ) last announced its quarterly earnings data on Thursday, November 6th. The technology company reported $0.54 EPS for the quarter, topping the consensus estimate of $0.25 by $0.29. Block had a net margin of 12.99% and a return on equity of 5.54%. The company had revenue of $6.11 billion during the quarter. During the same period last year, the business earned $0.53 EPS. The business’s quarterly revenue was up 2.3% compared to the same quarter last year. On average, equities analysts forecast that Block, Inc. will post 2.54 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

XYZ has been the topic of a number of research reports. Royal Bank Of Canada reaffirmed an “outperform” rating and set a $90.00 price target on shares of Block in a research note on Thursday, November 20th. The Goldman Sachs Group cut their target price on Block from $96.00 to $82.00 and set a “buy” rating on the stock in a report on Friday, November 7th. Zacks Research downgraded shares of Block from a “strong-buy” rating to a “hold” rating in a research report on Monday, November 10th. Wells Fargo & Company raised shares of Block to a “strong-buy” rating in a research note on Wednesday, October 22nd. Finally, Morgan Stanley raised their price target on shares of Block from $71.00 to $72.00 and gave the company an “equal weight” rating in a research report on Friday, November 21st. Three research analysts have rated the stock with a Strong Buy rating, twenty-one have given a Buy rating, twelve have given a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $83.12.

Institutional Trading of Block

Several hedge funds have recently added to or reduced their stakes in the stock. Vanguard Group Inc. increased its stake in shares of Block by 23.1% during the 3rd quarter. Vanguard Group Inc. now owns 67,626,485 shares of the technology company’s stock worth $4,887,366,000 after purchasing an additional 12,709,824 shares during the last quarter. Sands Capital Management LLC raised its holdings in Block by 12.2% during the 3rd quarter. Sands Capital Management LLC now owns 11,603,057 shares of the technology company’s stock valued at $838,553,000 after acquiring an additional 1,262,317 shares during the period. Capital World Investors increased its position in shares of Block by 192.7% during the third quarter. Capital World Investors now owns 11,296,224 shares of the technology company’s stock valued at $816,378,000 after buying an additional 7,436,380 shares during the period. Geode Capital Management LLC purchased a new position in shares of Block during the 2nd quarter valued at $634,721,000. Finally, Dragoneer Investment Group LLC purchased a new position in Block during the second quarter worth about $627,233,000. Institutional investors own 70.44% of the company’s stock.

Block Company Profile

Block (NYSE:XYZ) is a financial technology company that builds products and services to facilitate electronic payments, commerce, and consumer finance. Its principal business lines include a seller-focused ecosystem that provides point-of-sale hardware and software, payment processing, invoicing, payroll and lending services, and a consumer-facing platform that offers peer-to-peer payments, banking-like features, and investing. Block’s portfolio also encompasses music streaming and buy-now-pay-later capabilities through businesses acquired to broaden its reach beyond core payments.

The company was founded as Square in 2009 by Jack Dorsey and Jim McKelvey and later rebranded to Block to reflect a diversified set of businesses across payments, consumer finance, and emerging technologies.