Amrita Ahuja Sells 6,581 Shares of Block (NYSE:XYZ) Stock

Key Points

• Amrita Ahuja, CFO of Block, Inc., sold 6,581 shares of the company's stock on September 16th for a total value of $493,575, reducing her holdings by 2.25% to 285,551 shares.
• Block's stock price has fluctuated between a 1-year low of $44.27 and a 1-year high of $99.26, with the current trading price around $77.46, reflecting a 2.3% increase.
• Institutional ownership of Block, Inc. is strong, with approximately 70.44% of shares owned by institutional investors following significant acquisitions by firms like Vanguard and Sands Capital Management.

Block, Inc. (NYSE:XYZ - Get Free Report) CFO Amrita Ahuja sold 6,581 shares of the firm's stock in a transaction that occurred on Tuesday, September 16th. The shares were sold at an average price of $75.00, for a total value of $493,575.00. Following the completion of the transaction, the chief financial officer owned 285,551 shares in the company, valued at $21,416,325. This represents a 2.25% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website.

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

• On Friday, August 22nd, Amrita Ahuja sold 6,299 shares of Block stock. The stock was 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 stock was sold at an average price of $78.60, for a total value of $1,285,738.80.
• On Wednesday, July 2nd, Amrita Ahuja sold 1,351 shares of Block stock. The shares were sold at an average price of $69.26, for a total value of $93,570.26.

Block Stock Down 0.5%

Shares of NYSE:XYZ traded down $0.35 during trading on Friday, hitting $77.02. The stock had a trading volume of 7,596,438 shares, compared to its average volume of 5,350,049. Block, Inc. has a 12 month low of $44.27 and a 12 month 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 company has a market capitalization of $46.95 billion, a PE ratio of 16.49, a PEG ratio of 3.11 and a beta of 2.68. The firm's fifty day moving average is $75.96 and its 200 day moving average is $64.94.

Block (NYSE:XYZ - Get Free Report) last posted 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. Block had a return on equity of 7.85% and a net margin of 12.32%.The company had revenue of $6.05 billion during the quarter, compared to analyst estimates of $6.32 billion. The business's revenue for the quarter was down 1.6% on a year-over-year basis. Analysts anticipate that Block, Inc. will post 2.54 EPS for the current fiscal year.

Institutional Investors Weigh In On Block

Several hedge funds and other institutional investors have recently added to or reduced their stakes in XYZ. S Bank Fund Management Ltd acquired a new stake in Block during the 2nd quarter worth about $92,000. Praxis Investment Management Inc. purchased a new stake in shares of Block during the 2nd quarter worth about $508,000. Nordea Investment Management AB purchased a new stake in shares of Block during the 2nd quarter worth about $3,105,000. SilverOak Wealth Management LLC purchased a new stake in shares of Block during the 2nd quarter worth about $218,000. Finally, Private Trust Co. NA purchased a new stake in shares of Block during the 2nd quarter worth about $94,000. 70.44% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several analysts recently commented on XYZ shares. Mizuho lifted their price objective on Block from $71.00 to $88.00 and gave the stock an "outperform" rating in a report on Thursday, August 14th. Deutsche Bank Aktiengesellschaft set a $82.00 target price on Block and gave the stock a "buy" rating in a research report on Thursday, July 17th. Sanford C. Bernstein upped their target price on Block from $75.00 to $90.00 and gave the company an "outperform" rating in a research note on Tuesday, July 22nd. Compass Point reaffirmed a "sell" rating and set a $65.00 target price (down previously from $80.00) on shares of Block in a research note on Friday, August 8th. Finally, KeyCorp upped their target price on Block from $60.00 to $100.00 and gave the company an "overweight" rating in a research note on Friday, August 8th. Twenty-four investment analysts have rated the stock with a Buy rating, nine have issued a Hold rating and three have given a Sell rating to the company. According to data from MarketBeat.com, Block has a consensus rating of "Moderate Buy" and a consensus target price of $80.64.

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.