Block (NYSE:XYZ) CAO Sells $76,350.57 in Stock

Block, Inc. (NYSE:XYZ) CAO Ajmere Dale sold 1,173 shares of the firm’s stock in a transaction dated Friday, January 2nd. The shares were sold at an average price of $65.09, for a total transaction of $76,350.57. Following the completion of the sale, the chief accounting officer owned 98,412 shares of the company’s stock, valued at $6,405,637.08. The trade was a 1.18% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link.

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

• On Friday, November 21st, Ajmere Dale sold 2,724 shares of Block stock. The stock was sold at an average price of $61.40, for a total transaction of $167,253.60.
• On Wednesday, October 8th, Ajmere Dale sold 750 shares of Block stock. The shares were sold at an average price of $80.00, for a total transaction of $60,000.00.

Block Stock Performance

XYZ stock opened at $70.15 on Friday. The company has a 50 day moving average price of $65.18 and a 200 day moving average price of $71.45. Block, Inc. has a fifty-two week low of $44.27 and a fifty-two week high of $94.25. The company has a debt-to-equity ratio of 0.25, a current ratio of 2.18 and a quick ratio of 2.18. The stock has a market capitalization of $42.63 billion, a PE ratio of 14.14, a price-to-earnings-growth ratio of 1.32 and a beta of 2.66.

Block (NYSE:XYZ) last released its earnings results on Thursday, November 6th. The technology company reported $0.54 earnings per share for the quarter, topping analysts’ consensus estimates of $0.25 by $0.29. The company had revenue of $6.11 billion during the quarter. Block had a return on equity of 5.54% and a net margin of 12.99%.The company’s revenue was up 2.3% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.53 EPS. Analysts forecast that Block, Inc. will post 2.54 EPS for the current year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in XYZ. Traub Capital Management LLC bought a new stake in shares of Block in the second quarter worth about $26,000. Nemes Rush Group LLC acquired a new position in shares of Block in the 2nd quarter valued at approximately $26,000. City Holding Co. acquired a new position in shares of Block in the 3rd quarter valued at approximately $27,000. Cromwell Holdings LLC bought a new stake in Block during the 3rd quarter worth approximately $27,000. Finally, Cary Street Partners Investment Advisory LLC acquired a new stake in Block during the 3rd quarter worth approximately $28,000. 70.44% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

XYZ has been the topic of several analyst reports. Compass Point upgraded shares of Block from a “strong sell” rating to a “hold” rating in a report on Friday, November 21st. KeyCorp reiterated an “overweight” rating and set a $94.00 target price on shares of Block in a research report on Wednesday, October 22nd. BNP Paribas Exane upgraded Block from a “neutral” rating to an “outperform” rating and set a $83.00 price target on the stock in a research report on Wednesday. Mizuho lifted their price objective on Block from $88.00 to $100.00 and gave the stock an “outperform” rating in a research note on Thursday, November 20th. Finally, Truist Financial raised Block from a “sell” rating to a “hold” rating in a research note on Monday, November 17th. Three research analysts have rated the stock with a Strong Buy rating, twenty-three have issued a Buy rating, ten have given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $82.94.

About Block

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.