Insider Selling: Block (NYSE:XYZ) CFO Sells 6,581 Shares of Stock

Block, Inc. CFO Amrita Ahuja sold 6,581 shares of stock at $75.00 each, totaling $493,575, reducing her ownership by 2.25% to 285,551 shares valued at $21.4 million. This transaction was disclosed to the SEC. Ahuja's recent sales include 6,299 shares on August 22 and 9,966 shares on August 21. Block's stock opened at $77.46, with a market cap of $47.22 billion. Analysts have mixed ratings, with a consensus target price of $80.64.

Block, Inc. (NYSE:XYZ - Get Free Report) CFO Amrita Ahuja sold 6,581 shares of the firm's stock in a transaction dated Tuesday, September 16th. The shares were sold at an average price of $75.00, for a total transaction of $493,575.00. Following the transaction, the chief financial officer directly owned 285,551 shares in the company, valued at $21,416,325. The trade was a 2.25% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Block Levels Up: What S&P 500 Inclusion Means for Investors

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 Thursday, August 21st, Amrita Ahuja sold 9,966 shares of Block stock. The stock was sold at an average price of $73.20, for a total transaction 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 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

XYZ opened at $77.46 on Friday. The company has a market capitalization of $47.22 billion, a price-to-earnings ratio of 16.59, a PEG ratio of 3.06 and a beta of 2.68. 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 firm has a 50-day moving average price of $75.72 and a 200-day moving average price of $64.80. Block, Inc. has a twelve month low of $44.27 and a twelve month high of $99.26.

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

Analyst Ratings Changes

Several equities analysts recently commented on the stock. Morgan Stanley boosted their price objective on shares of Block from $73.00 to $77.00 and gave the company an "equal weight" rating in a research note on Monday, August 11th. Mizuho boosted their price target on shares of Block from $71.00 to $88.00 and gave the stock an "outperform" rating in a research note on Thursday, August 14th. Sanford C. Bernstein boosted their price target on shares of Block from $75.00 to $90.00 and gave the stock an "outperform" rating in a research note on Tuesday, July 22nd. Truist Financial boosted their price target on shares of Block from $65.00 to $70.00 and gave the stock a "sell" rating in a research note on Thursday, August 21st. Finally, Bank of America boosted their price target on shares of Block from $88.00 to $94.00 and gave the stock a "buy" rating in a research note on Friday, August 8th. Twenty-four investment analysts have rated the stock with a Buy rating, nine have given a Hold rating and three have given a Sell rating to the company. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price of $80.64.

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Institutional Investors Weigh In On Block

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Traub Capital Management LLC purchased a new position in Block during the 2nd quarter valued at $26,000. Nemes Rush Group LLC purchased a new position in Block during the 2nd quarter valued at $26,000. SouthState Corp purchased a new position in Block during the 2nd quarter valued at $29,000. First Horizon Advisors Inc. purchased a new position in Block during the 2nd quarter valued at $30,000. Finally, Comprehensive Financial Planning Inc. PA purchased a new position in Block during the 2nd quarter valued at $31,000. 70.44% of the stock is currently owned by institutional investors.

About Block

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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.