Insider Selling: Block, Inc. (NYSE:XYZ) CFO Sells 1,976 Shares of Stock

Block, Inc. (NYSE:XYZ - Get Free Report) CFO Amrita Ahuja sold 1,976 shares of Block stock in a transaction dated Wednesday, April 2nd. The shares were sold at an average price of $56.19, for a total value of $111,031.44. Following the completion of the sale, the chief financial officer now directly owns 233,878 shares in the company, valued at $13,141,604.82. This represents a 0.84 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website.

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

• On Friday, February 21st, Amrita Ahuja sold 6,345 shares of Block stock. The stock was sold at an average price of $70.32, for a total transaction of $446,180.40.

Block Stock Up 0.4 %

Shares of XYZ traded up $0.22 during midday trading on Monday, hitting $50.48. The company's stock had a trading volume of 12,987,461 shares, compared to its average volume of 8,790,406. The company's fifty day moving average price is $69.53. The company has a market cap of $31.27 billion, a PE ratio of 11.09, a price-to-earnings-growth ratio of 0.72 and a beta of 2.77. The company has a debt-to-equity ratio of 0.26, a current ratio of 2.07 and a quick ratio of 2.07. Block, Inc. has a one year low of $46.42 and a one year high of $99.26.

Block (NYSE:XYZ - Get Free Report) last issued its earnings results on Thursday, February 20th. The technology company reported $0.26 earnings per share for the quarter, missing analysts' consensus estimates of $0.37 by ($0.11). Block had a net margin of 11.92% and a return on equity of 5.80%. The company had revenue of $6.03 billion during the quarter, compared to analyst estimates of $6.23 billion. On average, research analysts predict that Block, Inc. will post 2.54 earnings per share for the current year.

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Wall Street Analysts Forecast Growth

Several research analysts recently commented on the stock. Canaccord Genuity Group reduced their target price on shares of Block from $120.00 to $100.00 and set a "buy" rating for the company in a report on Friday, February 21st. BMO Capital Markets upgraded Block from a "market perform" rating to an "outperform" rating and decreased their price objective for the company from $100.00 to $89.00 in a report on Monday, February 24th. Keefe, Bruyette & Woods upgraded Block from a "market perform" rating to an "outperform" rating and dropped their target price for the stock from $87.00 to $80.00 in a report on Tuesday, March 18th. The Goldman Sachs Group reduced their price target on Block from $94.00 to $74.00 and set a "buy" rating for the company in a research report on Wednesday, April 2nd. Finally, Piper Sandler lowered their price target on Block from $101.00 to $85.00 and set an "overweight" rating on the stock in a research report on Monday, February 24th. Three investment analysts have rated the stock with a hold rating and twenty-seven have issued a buy rating to the stock. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $94.46.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the business. Diversify Advisory Services LLC bought a new position in shares of Block during the fourth quarter worth about $1,315,000. Perpetual Ltd bought a new position in Block in the fourth quarter worth approximately $10,779,000. Nomura Asset Management Co. Ltd. grew its position in Block by 6.2% in the 3rd quarter. Nomura Asset Management Co. Ltd. now owns 253,787 shares of the technology company's stock valued at $17,037,000 after purchasing an additional 14,822 shares during the period. Wealthcare Advisory Partners LLC grew its holdings in shares of Block by 9.8% during the fourth quarter. Wealthcare Advisory Partners LLC now owns 8,065 shares of the technology company's stock valued at $685,000 after buying an additional 717 shares during the last quarter. Finally, TB Alternative Assets Ltd. bought a new stake in Block during the 4th quarter worth approximately $3,530,000. Institutional investors own 70.44% of the company's stock.

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.