Amrita Ahuja Sells 1,276 Shares of Block (NYSE:XYZ) Stock

Key Points

• Amrita Ahuja, CFO of Block, Inc., sold 1,276 shares of the company's stock on October 3rd for a total of approximately $97,856, decreasing her ownership by 0.45%.
• Block's stock is currently trading at around $77.75, with recent quarterly earnings showing a net margin of 12.32% and a revenue decline of 1.6% year-over-year.
• Institutional investors hold approximately 70.44% of Block's stock, indicating significant interest from large financial entities in the company's future performance.

Block, Inc. (NYSE:XYZ - Get Free Report) CFO Amrita Ahuja sold 1,276 shares of Block stock in a transaction dated Friday, October 3rd. The shares were sold at an average price of $76.69, for a total transaction of $97,856.44. Following the sale, the chief financial officer owned 282,924 shares in the company, valued at approximately $21,697,441.56. This trade represents a 0.45% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink.

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

• On Thursday, October 2nd, Amrita Ahuja sold 1,351 shares of Block stock. The shares were sold at an average price of $74.77, for a total transaction of $101,014.27.
• On Tuesday, September 16th, Amrita Ahuja sold 6,581 shares of Block stock. The shares were sold at an average price of $75.00, for a total transaction of $493,575.00.
• On Friday, August 22nd, Amrita Ahuja sold 6,299 shares of Block stock. The shares were sold at an average price of $75.00, for a total transaction of $472,425.00.
• On Thursday, August 21st, Amrita Ahuja sold 9,966 shares of Block stock. The shares were sold at an average price of $73.20, for a total transaction of $729,511.20.
• On Monday, July 21st, Amrita Ahuja sold 16,358 shares of Block stock. The shares were sold at an average price of $78.60, for a total transaction of $1,285,738.80.

Block Price Performance

NYSE:XYZ traded up $0.80 on Monday, reaching $77.75. The stock had a trading volume of 5,318,100 shares, compared to its average volume of 9,390,499. The company has a market capitalization of $47.39 billion, a P/E ratio of 16.65, a price-to-earnings-growth ratio of 3.11 and a beta of 2.71. Block, Inc. has a 1-year low of $44.27 and a 1-year high of $99.26. The company has a quick ratio of 1.96, a current ratio of 1.96 and a debt-to-equity ratio of 0.16. The stock has a fifty day moving average price of $76.11 and a 200-day moving average price of $66.20.

Block (NYSE:XYZ - Get Free Report) last released its quarterly earnings results on Thursday, August 7th. The technology company reported $0.62 EPS for the quarter, beating analysts' consensus estimates of $0.21 by $0.41. The firm had revenue of $6.05 billion for 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 revenue for the quarter was down 1.6% on a year-over-year basis. Research analysts forecast that Block, Inc. will post 2.54 EPS for the current year.

Institutional Investors Weigh In On Block

A number of institutional investors and hedge funds have recently modified their holdings of XYZ. S Bank Fund Management Ltd bought a new stake in shares of Block during the second quarter worth approximately $92,000. Praxis Investment Management Inc. bought a new stake in shares of Block during the second quarter worth approximately $508,000. Nordea Investment Management AB bought a new stake in Block in the second quarter valued at approximately $3,105,000. SilverOak Wealth Management LLC bought a new stake in Block in the second quarter valued at approximately $218,000. Finally, Private Trust Co. NA bought a new stake in Block in the second quarter valued at approximately $94,000. 70.44% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on the stock. KeyCorp upped their target price on shares of Block from $60.00 to $100.00 and gave the stock an "overweight" rating in a research report on Friday, August 8th. Keefe, Bruyette & Woods upped their target price on shares of Block from $80.00 to $95.00 and gave the stock an "outperform" rating in a research report on Friday, August 8th. Canaccord Genuity Group reiterated a "buy" rating and set a $80.00 target price on shares of Block in a research report on Tuesday, September 23rd. Piper Sandler reiterated an "underweight" rating and set a $58.00 target price (up from $50.00) on shares of Block in a research report on Friday, August 8th. Finally, Macquarie upped their target price on shares of Block from $50.00 to $67.00 and gave the stock a "neutral" rating in a research report on Tuesday, August 12th. Twenty-four equities research analysts have rated the stock with a Buy rating, ten have issued a Hold rating and three have given a Sell rating to the company's stock. According to MarketBeat, Block presently has an average rating of "Moderate Buy" and a consensus target price of $80.64.

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.

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