Ajmere Dale Sells 520 Shares of Block (NYSE:XYZ) Stock

Block, Inc. (NYSE:XYZ) CAO Ajmere Dale sold 520 shares of the stock in a transaction that occurred on Thursday, October 2nd. The shares were sold at an average price of $74.77, for a total transaction of $38,880.40. Following the completion of the sale, the chief accounting officer directly owned 103,058 shares in the company, valued at approximately $7,705,646.66. This 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 this link.

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 shares were sold at an average price of $73.32, for a total value 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 value of $40,000.00.

Block Trading Up 0.2%

NYSE:XYZ opened at $76.98 on Friday. Block, Inc. has a 1 year low of $44.27 and a 1 year high of $99.26. The stock has a market cap of $46.93 billion, a P/E ratio of 16.48, a P/E/G ratio of 3.11 and a beta of 2.71. The company has a debt-to-equity ratio of 0.16, a quick ratio of 1.96 and a current ratio of 1.96. The stock has a 50-day simple moving average of $76.11 and a 200-day simple moving average of $66.16.

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

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on XYZ. Truist Financial boosted their price target on shares of Block from $65.00 to $70.00 and gave the company a “sell” rating in a research report on Thursday, August 21st. Keefe, Bruyette & Woods upped their target price on Block from $80.00 to $95.00 and gave the company an “outperform” rating in a research report on Friday, August 8th. BTIG Research set a $80.00 price target on Block and gave the stock a “buy” rating in a research note on Tuesday, August 5th. KeyCorp boosted their price objective on Block from $60.00 to $100.00 and gave the company an “overweight” rating in a research note on Friday, August 8th. Finally, BNP Paribas lowered shares of Block from a “strong-buy” rating to a “hold” rating and set a $86.00 target price on the stock. in a research report on Tuesday, September 2nd. Twenty-four research analysts have rated the stock with a Buy rating, ten have issued a Hold rating and three have assigned a Sell rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $80.64.

Institutional Trading of Block

Several hedge funds have recently made changes to their positions in the company. Nemes Rush Group LLC acquired a new position in shares of Block during the second quarter worth about $26,000. Traub Capital Management LLC purchased a new stake in Block in the 2nd quarter valued at approximately $26,000. SouthState Corp acquired a new position in Block during the 2nd quarter worth approximately $29,000. First Horizon Advisors Inc. purchased a new position in shares of Block during the 2nd quarter worth approximately $30,000. Finally, Comprehensive Financial Planning Inc. PA acquired a new stake in shares of Block in the 2nd quarter valued at approximately $31,000. Institutional investors and hedge funds own 70.44% of the company’s stock.

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.