Block, Inc. (NYSE:XYZ) CAO Ajmere Dale Sells 1,467 Shares

Block, Inc. (NYSE:XYZ) CAO Ajmere Dale sold 1,467 shares of the company’s stock in a transaction on Friday, February 21st. The stock was sold at an average price of $70.32, for a total value of $103,159.44. Following the sale, the chief accounting officer now directly owns 82,499 shares in the company, valued at $5,801,329.68. This represents a 1.75 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink.

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

• On Thursday, January 2nd, Ajmere Dale sold 2,044 shares of Block stock. The stock was sold at an average price of $86.72, for a total value of $177,255.68.

Block Trading Down 4.5 %

Shares of NYSE:XYZ traded down $2.99 during trading on Tuesday, reaching $62.93. The company had a trading volume of 18,768,939 shares, compared to its average volume of 7,432,469. The company has a current ratio of 2.07, a quick ratio of 2.07 and a debt-to-equity ratio of 0.26. Block, Inc. has a fifty-two week low of $55.00 and a fifty-two week high of $99.26. The firm has a market cap of $39.00 billion, a P/E ratio of 13.83, a PEG ratio of 0.72 and a beta of 2.53.

Block (NYSE:XYZ) last announced its quarterly earnings data 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 firm had revenue of $6.03 billion during the quarter, compared to analyst estimates of $6.23 billion. Equities analysts anticipate that Block, Inc. will post 2.54 EPS for the current year.

Institutional Investors Weigh In On Block

A number of hedge funds have recently added to or reduced their stakes in the company. SouthState Corp increased its position in Block by 85.3% during the 3rd quarter. SouthState Corp now owns 391 shares of the technology company’s stock worth $26,000 after purchasing an additional 180 shares during the period. True Wealth Design LLC boosted its stake in shares of Block by 64.7% in the third quarter. True Wealth Design LLC now owns 494 shares of the technology company’s stock valued at $33,000 after buying an additional 194 shares in the last quarter. Versant Capital Management Inc grew its holdings in Block by 67.7% during the fourth quarter. Versant Capital Management Inc now owns 394 shares of the technology company’s stock worth $33,000 after acquiring an additional 159 shares during the period. MassMutual Private Wealth & Trust FSB raised its position in Block by 48.2% in the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 418 shares of the technology company’s stock worth $36,000 after acquiring an additional 136 shares in the last quarter. Finally, Morton Brown Family Wealth LLC purchased a new position in Block in the third quarter worth $67,000. Institutional investors and hedge funds own 70.44% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on XYZ. William Blair reissued an “outperform” rating on shares of Block in a research report on Friday, November 15th. Needham & Company LLC reissued a “buy” rating and issued a $90.00 price objective on shares of Block in a research report on Friday. Piper Sandler reduced their price objective on shares of Block from $101.00 to $85.00 and set an “overweight” rating on the stock in a report on Monday. Citigroup boosted their target price on shares of Block from $90.00 to $108.00 and gave the stock a “buy” rating in a research note on Tuesday, January 14th. Finally, The Goldman Sachs Group cut their price target on Block from $109.00 to $94.00 and set a “buy” rating on the stock in a research note on Friday. Six research analysts have rated the stock with a hold rating and twenty-five have given a buy rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $96.31.

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.