Insider Selling: Block, Inc. (NYSE:XYZ) CFO Sells 6,345 Shares of Stock

Block, Inc. (NYSE:XYZ) CFO Amrita Ahuja sold 6,345 shares of the stock in a transaction dated Friday, February 21st. The shares were sold at an average price of $70.32, for a total value of $446,180.40. Following the completion of the transaction, the chief financial officer now owns 235,854 shares of the company’s stock, valued at $16,585,253.28. This represents a 2.62 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible 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 shares were sold at an average price of $86.52, for a total transaction of $129,953.04.

Block Price Performance

NYSE:XYZ traded down $2.99 during trading hours on Tuesday, hitting $62.93. 18,768,939 shares of the company’s stock traded hands, compared to its average volume of 7,432,469. Block, Inc. has a 52 week low of $55.00 and a 52 week high of $99.26. The company has a debt-to-equity ratio of 0.26, a quick ratio of 2.07 and a current ratio of 2.07. The firm has a market capitalization of $39.00 billion, a price-to-earnings ratio of 13.83, a P/E/G ratio of 0.72 and a beta of 2.53.

Block (NYSE:XYZ) last posted its quarterly earnings data 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 company had revenue of $6.03 billion during the quarter, compared to the consensus estimate of $6.23 billion. Block had a return on equity of 5.80% and a net margin of 11.92%. On average, research analysts expect that Block, Inc. will post 2.54 EPS for the current fiscal year.

Institutional Investors Weigh In On Block

Several hedge funds have recently added to or reduced their stakes in XYZ. Key Client Fiduciary Advisors LLC boosted its stake in shares of Block by 1.4% in the 4th quarter. Key Client Fiduciary Advisors LLC now owns 8,340 shares of the technology company’s stock valued at $709,000 after purchasing an additional 115 shares in the last quarter. MassMutual Private Wealth & Trust FSB lifted its stake in shares of Block by 48.2% in the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 418 shares of the technology company’s stock valued at $36,000 after acquiring an additional 136 shares during the last quarter. Nations Financial Group Inc. IA ADV boosted its holdings in Block by 1.9% during the 3rd quarter. Nations Financial Group Inc. IA ADV now owns 7,744 shares of the technology company’s stock valued at $520,000 after acquiring an additional 145 shares during the period. Wealth Enhancement Advisory Services LLC increased its stake in Block by 0.5% in the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 26,864 shares of the technology company’s stock worth $2,283,000 after purchasing an additional 145 shares during the period. Finally, Rosenberg Matthew Hamilton boosted its stake in shares of Block by 18.3% during the fourth quarter. Rosenberg Matthew Hamilton now owns 982 shares of the technology company’s stock valued at $83,000 after purchasing an additional 152 shares during the period. Institutional investors own 70.44% of the company’s stock.

Wall Street Analysts Forecast Growth

XYZ has been the topic of several recent research reports. BNP Paribas downgraded Block from an “outperform” rating to a “neutral” rating and set a $88.00 target price on the stock. in a report on Wednesday, November 20th. Monness Crespi & Hardt upgraded shares of Block from a “neutral” rating to a “buy” rating and set a $115.00 target price on the stock in a research report on Friday, December 13th. Sanford C. Bernstein upped their price target on Block from $90.00 to $120.00 and gave the stock an “outperform” rating in a research note on Monday, December 2nd. William Blair restated an “outperform” rating on shares of Block in a report on Friday, November 15th. Finally, Keefe, Bruyette & Woods dropped their price target on shares of Block from $100.00 to $87.00 and set a “market perform” rating on the stock in a research report on Friday. Six analysts have rated the stock with a hold rating and twenty-five have issued a buy rating to the company. According to MarketBeat, Block has a consensus rating of “Moderate Buy” and an average target price 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.