Block, Inc. (NYSE:XYZ) CAO Sells $40,000.00 in Stock

Key Points

• Block, Inc. CAO Ajmere Dale sold 500 shares of stock for a total of $40,000, decreasing his position by 0.46% to 108,236 shares.
• The company's stock price rose by 1.2% to $80.71, with a recent trading volume of over 6 million shares.
• Block reported $5.77 billion in revenue last quarter, with earnings per share of $0.55, beating analysts' expectations of $0.48.

Block, Inc. (NYSE:XYZ - Get Free Report) CAO Ajmere Dale sold 500 shares of Block stock in a transaction that occurred on Wednesday, July 23rd. The shares were sold at an average price of $80.00, for a total transaction of $40,000.00. Following the completion of the sale, the chief accounting officer owned 108,236 shares of the company's stock, valued at $8,658,880. This trade represents a 0.46% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website.

Ajmere Dale also recently made the following trade(s):

• On Wednesday, July 2nd, Ajmere Dale sold 366 shares of Block stock. The stock was sold at an average price of $69.26, for a total transaction of $25,349.16.
• On Wednesday, May 21st, Ajmere Dale sold 1,928 shares of Block stock. The shares were sold at an average price of $56.39, for a total value of $108,719.92.

Block Trading Up 1.2%

XYZ stock traded up $0.94 during trading on Friday, reaching $80.71. The stock had a trading volume of 6,342,833 shares, compared to its average volume of 16,337,229. Block, Inc. has a 1-year low of $44.27 and a 1-year high of $99.26. The company has a debt-to-equity ratio of 0.24, a current ratio of 2.27 and a quick ratio of 2.27. The firm has a market capitalization of $49.64 billion, a P/E ratio of 41.98, a P/E/G ratio of 3.23 and a beta of 2.74. The company has a fifty day moving average of $65.65.

Block (NYSE:XYZ - Get Free Report) last issued its earnings results on Thursday, May 1st. The technology company reported $0.55 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.48 by $0.07. The business had revenue of $5.77 billion for the quarter. Block had a net margin of 10.84% and a return on equity of 5.71%. The business's revenue for the quarter was down 3.1% compared to the same quarter last year. During the same quarter last year, the company posted $0.47 EPS. Sell-side analysts predict that Block, Inc. will post 2.54 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on XYZ. Sanford C. Bernstein reaffirmed an "outperform" rating and issued a $90.00 target price (up from $75.00) on shares of Block in a report on Tuesday. Macquarie cut shares of Block from an "outperform" rating to a "neutral" rating and set a $50.00 target price for the company. in a report on Monday, May 5th. Oppenheimer increased their target price on shares of Block from $70.00 to $71.00 and gave the company an "outperform" rating in a report on Wednesday, July 2nd. The Goldman Sachs Group dropped their target price on shares of Block from $65.00 to $57.00 and set a "buy" rating for the company in a report on Friday, May 2nd. Finally, Canaccord Genuity Group dropped their target price on shares of Block from $100.00 to $80.00 and set a "buy" rating for the company in a report on Friday, May 2nd. Two research analysts have rated the stock with a sell rating, eight have issued a hold rating, twenty-four have issued a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $74.91.

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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