Block, Inc. (NYSE:XYZ – Get Free Report) CFO Amrita Ahuja sold 9,511 shares of the stock in a transaction that occurred on Monday, August 24th. The stock was sold at an average price of $82.43, for a total transaction of $783,991.73. Following the sale, the chief financial officer owned 423,262 shares in the company, valued at approximately $34,889,486.66. This trade represents a 2.20% 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. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.
Amrita Ahuja also recently made the following trade(s):
- On Friday, August 21st, Amrita Ahuja sold 3,101 shares of Block stock. The stock was sold at an average price of $80.04, for a total transaction of $248,204.04.
- On Wednesday, August 5th, Amrita Ahuja sold 8,971 shares of Block stock. The stock was sold at an average price of $85.85, for a total value of $770,160.35.
- On Tuesday, June 16th, Amrita Ahuja sold 8,093 shares of Block stock. The stock was sold at an average price of $75.00, for a total value of $606,975.00.
Block Stock Down 1.0%
Block stock traded down $0.79 during trading on Monday, reaching $81.38. The stock had a trading volume of 4,068,129 shares, compared to its average volume of 4,955,299. Block, Inc. has a 52-week low of $48.21 and a 52-week high of $86.75. The business has a 50 day moving average price of $78.89 and a 200 day moving average price of $69.40. The stock has a market cap of $48.89 billion, a PE ratio of 145.31, a P/E/G ratio of 0.92 and a beta of 2.53. The company has a quick ratio of 2.21, a current ratio of 2.21 and a debt-to-equity ratio of 0.26.
Analyst Upgrades and Downgrades
XYZ has been the topic of a number of research analyst reports. Robert W. Baird set a $105.00 price objective on shares of Block in a report on Thursday, August 6th. Monness Crespi & Hardt increased their target price on shares of Block from $115.00 to $125.00 and gave the company a “buy” rating in a research report on Friday, August 7th. Keefe, Bruyette & Woods lifted their price target on shares of Block from $90.00 to $100.00 and gave the stock an “outperform” rating in a research note on Thursday, August 6th. Canaccord Genuity Group boosted their price target on shares of Block from $85.00 to $100.00 and gave the company a “buy” rating in a research report on Thursday, August 13th. Finally, BMO Capital Markets raised their price objective on Block from $78.00 to $85.00 and gave the stock a “market perform” rating in a report on Wednesday, July 22nd. Three investment analysts have rated the stock with a Strong Buy rating, twenty-eight have assigned a Buy rating and eight have issued a Hold rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $95.23.
Check Out Our Latest Stock Analysis on XYZ
Hedge Funds Weigh In On Block
A number of hedge funds have recently modified their holdings of XYZ. Elevation Wealth Partners LLC increased its holdings in shares of Block by 301.0% in the 2nd quarter. Elevation Wealth Partners LLC now owns 389 shares of the technology company’s stock valued at $30,000 after acquiring an additional 292 shares during the period. Global Assets Advisory LLC acquired a new stake in Block during the 1st quarter worth $31,000. Rachor Investment Advisory Services LLC purchased a new position in Block during the 4th quarter worth $32,000. Cary Street Partners Investment Advisory LLC grew its position in Block by 57.6% during the 4th quarter. Cary Street Partners Investment Advisory LLC now owns 610 shares of the technology company’s stock worth $40,000 after purchasing an additional 223 shares during the last quarter. Finally, Osbon Capital Management LLC acquired a new position in Block in the fourth quarter valued at $43,000. 70.44% of the stock is currently owned by hedge funds and other institutional investors.
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.
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