Amrita Ahuja Sells 1,351 Shares of Block (NYSE:XYZ) Stock

Key Points

• Amrita Ahuja, CFO of Block, Inc., sold 1,351 shares of stock for a total of $101,014.27, slightly reducing her ownership stake to 284,200 shares, valued at approximately $21.25 million.
• Block's stock performed positively, trading at $77.75 with a market cap of $47.39 billion, and the company recently reported an EPS of $0.62, exceeding analyst estimates.
• Recent analyst ratings for Block include a downgrade from BNP Paribas to a "hold" with a price target of $86.00, while other analysts maintain a generally positive outlook with several "buy" ratings and a consensus price target of $80.64.

Block, Inc. (NYSE:XYZ - Get Free Report) CFO Amrita Ahuja sold 1,351 shares of the company's stock in a transaction on Thursday, October 2nd. The shares were sold at an average price of $74.77, for a total value of $101,014.27. Following the sale, the chief financial officer owned 284,200 shares of the company's stock, valued at approximately $21,249,634. This trade represents a 0.47% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website.

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

• On Friday, October 3rd, Amrita Ahuja sold 1,276 shares of Block stock. The shares were sold at an average price of $76.69, for a total value of $97,856.44.
• 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 value 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 value 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 value 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 value of $1,285,738.80.

Block Stock Performance

XYZ traded up $0.80 during midday trading on Monday, reaching $77.75. The company had a trading volume of 5,318,100 shares, compared to its average volume of 9,390,499. 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 business has a 50-day moving average of $76.11 and a two-hundred day moving average of $66.20. The company has a market cap of $47.39 billion, a P/E ratio of 16.65, a P/E/G 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.

Block (NYSE:XYZ - Get Free Report) last issued its quarterly earnings results on Thursday, August 7th. The technology company reported $0.62 EPS for the quarter, topping analysts' consensus estimates of $0.21 by $0.41. The business had revenue of $6.05 billion during the quarter, compared to analysts' expectations of $6.32 billion. Block had a return on equity of 7.85% and a net margin of 12.32%.The company's revenue was down 1.6% on a year-over-year basis. As a group, equities research analysts predict that Block, Inc. will post 2.54 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of analysts have commented on XYZ shares. BNP Paribas cut Block from a "strong-buy" rating to a "hold" rating and set a $86.00 price target for the company. in a research report on Tuesday, September 2nd. Compass Point restated a "sell" rating and issued a $65.00 price target (down previously from $80.00) on shares of Block in a research report on Friday, August 8th. Royal Bank Of Canada restated an "outperform" rating and issued a $97.00 price target (up previously from $63.00) on shares of Block in a research report on Friday, August 8th. Jefferies Financial Group reduced their price target on Block from $95.00 to $90.00 and set a "buy" rating for the company in a research report on Friday, August 15th. Finally, Bank of America upped their price target on Block from $88.00 to $94.00 and gave the stock a "buy" rating in a research report on Friday, August 8th. Twenty-four analysts have rated the stock with a Buy rating, ten have issued a Hold rating and three have issued a Sell rating to the company. According to MarketBeat, Block has a consensus rating of "Moderate Buy" and a consensus price target of $80.64.

Institutional Investors Weigh In On Block

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

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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