Amrita Ahuja Sells 9,966 Shares of Block (NYSE:XYZ) Stock

Key Points

• Amrita Ahuja, CFO of Block, Inc., sold 9,966 shares of the company's stock at an average price of $73.20, resulting in a total value of approximately $729,511.20, which decreased her ownership by 3.23%.
• Block, Inc. reported a quarterly earnings per share (EPS) of $0.62, surpassing analysts' expectations of $0.21, despite a 1.6% decline in year-over-year revenue.
• Institutional investors currently hold 70.44% of Block's stock, indicating strong interest from big players in the market.

Block, Inc. (NYSE:XYZ - Get Free Report) CFO Amrita Ahuja sold 9,966 shares of the firm's stock in a transaction on Thursday, August 21st. The stock was sold at an average price of $73.20, for a total value of $729,511.20. Following the completion of the transaction, the chief financial officer directly owned 298,431 shares of the company's stock, valued at approximately $21,845,149.20. This trade represents a 3.23% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link.

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

• 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 Monday, July 21st, Amrita Ahuja sold 16,358 shares of Block stock. The stock was sold at an average price of $78.60, for a total transaction of $1,285,738.80.
• On Wednesday, July 2nd, Amrita Ahuja sold 1,351 shares of Block stock. The stock was sold at an average price of $69.26, for a total transaction of $93,570.26.

Block Price Performance

Shares of XYZ stock traded up $0.04 during trading hours on Monday, hitting $79.16. The company had a trading volume of 6,519,381 shares, compared to its average volume of 10,013,959. Block, Inc. has a 12 month low of $44.27 and a 12 month high of $99.26. The company has a debt-to-equity ratio of 0.16, a quick ratio of 1.96 and a current ratio of 1.96. The firm's fifty day moving average is $71.86 and its 200 day moving average is $64.56. The firm has a market capitalization of $48.68 billion, a price-to-earnings ratio of 16.95, a PEG ratio of 3.20 and a beta of 2.71.

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

Institutional Investors Weigh In On Block

A number of institutional investors and hedge funds have recently made changes to their positions in XYZ. S Bank Fund Management Ltd acquired a new stake in Block in the second quarter worth about $92,000. Praxis Investment Management Inc. bought a new position in shares of Block in the 2nd quarter valued at about $508,000. Nordea Investment Management AB acquired a new stake in shares of Block during the 2nd quarter worth approximately $3,105,000. SilverOak Wealth Management LLC bought a new stake in shares of Block during the second quarter worth approximately $218,000. Finally, Private Trust Co. NA acquired a new position in Block in the second quarter valued at approximately $94,000. Institutional investors own 70.44% of the company's stock.

Wall Street Analysts Forecast Growth

XYZ has been the subject of a number of recent analyst reports. KeyCorp increased 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. Cowen reaffirmed a "buy" rating on shares of Block in a report on Friday, August 8th. BNP Paribas Exane raised Block from a "neutral" rating to an "outperform" rating and set a $72.00 target price on the stock in a report on Tuesday, May 27th. Piper Sandler restated an "underweight" rating and set a $58.00 price target (up from $50.00) on shares of Block in a research report on Friday, August 8th. Finally, BMO Capital Markets reiterated a "market perform" rating and issued a $58.00 price objective (down previously from $80.00) on shares of Block in a research report on Friday, May 2nd. One analyst has rated the stock with a Strong Buy rating, twenty-five have given a Buy rating, eight have issued a Hold rating and three have issued a Sell rating to the company's stock. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price of $79.97.

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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