Ajmere Dale Sells 750 Shares of Block (NYSE:XYZ) Stock

Block, Inc. (NYSE:XYZ) CAO Ajmere Dale sold 750 shares of the firm’s stock in a transaction that occurred on Wednesday, October 1st. The stock was sold at an average price of $72.22, for a total value of $54,165.00. Following the completion of the sale, the chief accounting officer owned 103,578 shares of the company’s stock, valued at $7,480,403.16. This represents a 0.72% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this link.

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

• On Thursday, October 2nd, Ajmere Dale sold 520 shares of Block stock. The shares were sold at an average price of $74.77, for a total value of $38,880.40.
• 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 value of $60,000.00.
• On Thursday, August 21st, Ajmere Dale sold 3,158 shares of Block stock. The stock was sold at an average price of $73.32, for a total transaction of $231,544.56.
• On Wednesday, July 23rd, Ajmere Dale sold 500 shares of Block stock. The shares were sold at an average price of $80.00, for a total transaction of $40,000.00.

Block Price Performance

Shares of Block stock opened at $76.98 on Friday. The firm has a market cap of $46.93 billion, a P/E ratio of 16.48, a price-to-earnings-growth ratio of 3.11 and a beta of 2.71. The firm’s 50-day simple moving average is $76.11 and its 200-day simple moving average is $66.16. Block, Inc. has a twelve month low of $44.27 and a twelve month high of $99.26. The company has a debt-to-equity ratio of 0.16, a quick ratio of 1.96 and a current ratio of 1.96.

Block (NYSE:XYZ) last posted its quarterly earnings results on Thursday, August 7th. The technology company reported $0.62 earnings per share (EPS) 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 analyst estimates of $6.32 billion. Block had a net margin of 12.32% and a return on equity of 7.85%. The company’s revenue for the quarter was down 1.6% compared to the same quarter last year. As a group, research analysts expect that Block, Inc. will post 2.54 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the stock. Nemes Rush Group LLC acquired a new position in shares of Block during the 2nd quarter worth approximately $26,000. Traub Capital Management LLC bought a new stake in shares of Block during the second quarter worth approximately $26,000. SouthState Corp acquired a new position in shares of Block in the second quarter valued at approximately $29,000. First Horizon Advisors Inc. bought a new stake in Block in the 2nd quarter valued at $30,000. Finally, Comprehensive Financial Planning Inc. PA acquired a new position in shares of Block in the second quarter valued at about $31,000. 70.44% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

XYZ has been the subject of several recent analyst reports. Needham & Company LLC reissued a “buy” rating and set a $100.00 price objective (up from $80.00) on shares of Block in a report on Friday, August 8th. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Block in a report on Saturday, September 27th. Evercore ISI increased their target price on Block from $75.00 to $85.00 and gave the stock an “outperform” rating in a report on Thursday, July 17th. Wall Street Zen raised shares of Block from a “sell” rating to a “hold” rating in a report on Saturday, July 5th. Finally, Keefe, Bruyette & Woods upped their price target on Block from $80.00 to $95.00 and gave the company an “outperform” rating in a research note on Friday, August 8th. Twenty-four investment analysts have rated the stock with a Buy rating, ten have given a Hold rating and three have issued a Sell rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $80.64.

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.