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

Block, Inc. (NYSE:XYZ) CFO Amrita Ahuja sold 6,345 shares of Block stock in a transaction that occurred on Friday, February 21st. The stock was 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 directly owns 235,854 shares in the company, valued at approximately $16,585,253.28. This trade represents a 2.62 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.

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

• On Thursday, January 2nd, Amrita Ahuja sold 1,502 shares of Block stock. The stock was sold at an average price of $86.52, for a total transaction of $129,953.04.

Block Stock Performance

XYZ stock opened at $65.29 on Thursday. The company has a debt-to-equity ratio of 0.26, a current ratio of 2.07 and a quick ratio of 2.07. The stock has a market cap of $40.47 billion, a price-to-earnings ratio of 14.35, a PEG ratio of 0.72 and a beta of 2.53. Block, Inc. has a 52-week low of $55.00 and a 52-week high of $99.26.

Block (NYSE:XYZ) last announced its earnings results on Thursday, February 20th. The technology company reported $0.26 earnings per share for the quarter, missing the consensus estimate of $0.37 by ($0.11). The business had revenue of $6.03 billion for the quarter, compared to the consensus estimate of $6.23 billion. Block had a net margin of 11.92% and a return on equity of 5.80%. Equities analysts anticipate that Block, Inc. will post 2.54 EPS for the current fiscal year.

Institutional Investors Weigh In On Block

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

Analyst Upgrades and Downgrades

XYZ has been the subject of several recent analyst reports. Wells Fargo & Company raised their target price on Block from $85.00 to $95.00 and gave the stock an “overweight” rating in a research report on Thursday, January 16th. William Blair restated an “outperform” rating on shares of Block in a research report on Friday, November 15th. Morgan Stanley raised Block from an “underweight” rating to an “equal weight” rating and set a $65.00 target price on the stock in a research note on Tuesday. Monness Crespi & Hardt raised shares of Block from a “neutral” rating to a “buy” rating and set a $115.00 price target for the company in a research report on Friday, December 13th. Finally, BMO Capital Markets raised shares of Block from a “market perform” rating to an “outperform” rating and lowered their price objective for the company from $100.00 to $89.00 in a research report on Monday. Six investment analysts have rated the stock with a hold rating and twenty-five have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Block has an average rating of “Moderate Buy” and an average price target of $96.31.

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.