Block (NYSE:XYZ) CAO Sells $38,880.40 in Stock

Key Points

• Ajmere Dale, the Chief Accounting Officer of Block, Inc., sold 520 shares of the company's stock for a total of $38,880.40 on October 2nd, reducing his position by 0.50%.
• Block's stock is trading at $76.98, experiencing a 0.2% increase, while average trading volume was lower than usual at 5,754,519 shares.
• Block's recent earnings report showed a net margin of 12.32% with earnings per share of $0.62, significantly beating analysts' expectations.

Block, Inc. (NYSE:XYZ - Get Free Report) CAO Ajmere Dale sold 520 shares of the company's stock in a transaction on Thursday, October 2nd. The stock was sold at an average price of $74.77, for a total transaction of $38,880.40. Following the completion of the transaction, the chief accounting officer directly owned 103,058 shares in the company, valued at approximately $7,705,646.66. The trade was a 0.50% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link.

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

• On Wednesday, October 1st, Ajmere Dale sold 750 shares of Block stock. The shares were sold at an average price of $72.22, for a total transaction of $54,165.00.
• 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 transaction 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 Trading Up 0.2%

Shares of XYZ traded up $0.17 during mid-day trading on Friday, reaching $76.98. The company's stock had a trading volume of 5,754,519 shares, compared to its average volume of 9,412,699. The company has a current ratio of 1.96, a quick ratio of 1.96 and a debt-to-equity ratio of 0.16. Block, Inc. has a 52 week low of $44.27 and a 52 week high of $99.26. The company's fifty day moving average price is $76.18 and its two-hundred day moving average price is $66.01. The stock has a market cap of $46.93 billion, a PE ratio of 16.48, a P/E/G ratio of 2.97 and a beta of 2.71.

Block (NYSE:XYZ - Get Free Report) last released its quarterly earnings data 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 firm had revenue of $6.05 billion during the quarter, compared to analyst estimates of $6.32 billion. Block had a return on equity of 7.85% and a net margin of 12.32%.The business's revenue for the quarter was down 1.6% on a year-over-year basis. On average, analysts predict that Block, Inc. will post 2.54 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

XYZ has been the topic of a number of recent research reports. Mizuho increased their target price on Block from $71.00 to $88.00 and gave the stock an "outperform" rating in a research note on Thursday, August 14th. Barclays raised their target price on Block from $57.00 to $75.00 and gave the stock an "overweight" rating in a research report on Monday, June 9th. Needham & Company LLC reissued a "buy" rating and set a $100.00 price target (up previously from $80.00) on shares of Block in a report on Friday, August 8th. Canaccord Genuity Group reissued a "buy" rating and issued a $80.00 price objective on shares of Block in a research note on Tuesday, September 23rd. Finally, Morgan Stanley lifted their price objective on shares of Block from $73.00 to $77.00 and gave the company an "equal weight" rating in a research report on Monday, August 11th. Twenty-four investment analysts have rated the stock with a Buy rating, ten have given a Hold rating and three have assigned a Sell rating to the company's stock. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $80.64.

Hedge Funds Weigh In On Block

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

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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