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

Key Points

• Ajmere Dale, the Chief Accounting Officer at Block, sold 750 shares of the company's stock for a total of $54,165 on October 1st, representing a 0.72% decrease in his holdings.
• Block Inc.'s shares recently traded at $76.98, with a market capitalization of $46.93 billion and a P/E ratio of 16.48.
• Analysts have given Block stock an average rating of "Moderate Buy" with a target price of $80.64, highlighting a strong interest from institutional investors.

Block, Inc. (NYSE:XYZ - Get Free Report) CAO Ajmere Dale sold 750 shares of the 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 transaction, the chief accounting officer directly 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 filing with the SEC, which is accessible through this hyperlink.

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 transaction of $38,880.40.
• On Monday, August 25th, Ajmere Dale sold 750 shares of Block stock. The shares were 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 value of $40,000.00.

Block Stock Performance

Shares of Block stock traded up $0.17 during trading on Friday, hitting $76.98. 5,754,519 shares of the company's stock traded hands, compared to its average volume of 9,412,699. Block, Inc. has a 1 year low of $44.27 and a 1 year high of $99.26. The business has a 50-day simple moving average of $76.18 and a 200-day simple moving average of $66.01. The stock has a market capitalization of $46.93 billion, a P/E ratio of 16.48, a PEG ratio of 2.97 and a beta of 2.71. The company has a debt-to-equity ratio of 0.16, a current ratio of 1.96 and a quick ratio of 1.96.

Block (NYSE:XYZ - Get Free Report) last announced its earnings results on Thursday, August 7th. The technology company reported $0.62 earnings per share for the quarter, beating analysts' consensus estimates of $0.21 by $0.41. The business 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 firm's quarterly revenue was down 1.6% on a year-over-year basis. As a group, analysts forecast that Block, Inc. will post 2.54 EPS for the current year.

Hedge Funds Weigh In On Block

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

Analysts Set New Price Targets

A number of equities analysts recently weighed in on the stock. Weiss Ratings restated a "hold (c+)" rating on shares of Block in a research report on Saturday, September 27th. Robert W. Baird upped their target price on shares of Block from $76.00 to $84.00 and gave the stock an "outperform" rating in a research note on Monday, July 21st. BTIG Research set a $80.00 price objective on shares of Block and gave the stock a "buy" rating in a research note on Tuesday, August 5th. Keefe, Bruyette & Woods lifted their price target on Block from $80.00 to $95.00 and gave the company an "outperform" rating in a report on Friday, August 8th. Finally, Jefferies Financial Group cut their price target on shares of Block from $95.00 to $90.00 and set a "buy" rating on the stock in a report on Friday, August 15th. Twenty-four equities research analysts have rated the stock with a Buy rating, ten have given a Hold rating and three have given a Sell rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price 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.

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