Key Points
- Ajmere Dale, Block’s CAO, sold 2,724 shares on November 21 at an average price of $61.40 for a total of $167,253.60, leaving him with 99,585 shares (a 2.66% reduction in his stake).
- Block beat quarterly expectations, reporting $0.54 EPS versus a $0.25 consensus and revenue of $6.11 billion, with revenue up 2.3% year-over-year.
- Analysts maintain a consensus rating of “Moderate Buy” with an average price target of $83.42, and institutional investors own about 70.44% of the stock.
Block, Inc. (NYSE:XYZ - Get Free Report) CAO Ajmere Dale sold 2,724 shares of the firm's stock in a transaction that occurred on Friday, November 21st. The shares were sold at an average price of $61.40, for a total transaction of $167,253.60. Following the completion of the sale, the chief accounting officer directly owned 99,585 shares in the company, valued at approximately $6,114,519. This trade represents a 2.66% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.
Ajmere Dale also recently made the following trade(s):
- On Wednesday, October 8th, Ajmere Dale sold 750 shares of Block stock. The stock was sold at an average price of $80.00, for a total transaction of $60,000.00.
- On Thursday, October 2nd, Ajmere Dale sold 520 shares of Block stock. The shares were sold at an average price of $74.77, for a total transaction of $38,880.40.
- 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.
Block Price Performance
Block stock opened at $63.64 on Wednesday. The company has a current ratio of 2.18, a quick ratio of 2.18 and a debt-to-equity ratio of 0.25. The company has a fifty day simple moving average of $72.67 and a 200-day simple moving average of $70.76. The stock has a market cap of $38.67 billion, a P/E ratio of 12.83, a price-to-earnings-growth ratio of 3.46 and a beta of 2.73. Block, Inc. has a 12-month low of $44.27 and a 12-month high of $99.26.
Block (NYSE:XYZ - Get Free Report) last posted its quarterly earnings results on Thursday, November 6th. The technology company reported $0.54 earnings per share for the quarter, beating analysts' consensus estimates of $0.25 by $0.29. The company had revenue of $6.11 billion for the quarter. Block had a return on equity of 5.54% and a net margin of 12.99%.The firm's quarterly revenue was up 2.3% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.53 earnings per share. Equities analysts expect that Block, Inc. will post 2.54 EPS for the current fiscal year.
Institutional Trading of Block
Several hedge funds have recently made changes to their positions in the company. CIBC Private Wealth Group LLC increased its stake in shares of Block by 15.9% during the third quarter. CIBC Private Wealth Group LLC now owns 11,086 shares of the technology company's stock worth $801,000 after acquiring an additional 1,524 shares during the period. CIBC Bancorp USA Inc. purchased a new stake in Block in the 3rd quarter valued at approximately $5,494,000. Centaurus Financial Inc. increased its position in Block by 11.7% during the 3rd quarter. Centaurus Financial Inc. now owns 23,177 shares of the technology company's stock worth $1,675,000 after purchasing an additional 2,433 shares during the period. Captrust Financial Advisors raised its stake in shares of Block by 4.8% during the 3rd quarter. Captrust Financial Advisors now owns 21,576 shares of the technology company's stock worth $1,559,000 after buying an additional 984 shares in the last quarter. Finally, Coldstream Capital Management Inc. acquired a new stake in shares of Block in the 3rd quarter valued at approximately $289,000. Institutional investors and hedge funds own 70.44% of the company's stock.
Analysts Set New Price Targets
Several equities research analysts recently weighed in on the company. Raymond James Financial restated an "outperform" rating and set a $95.00 target price (up previously from $79.00) on shares of Block in a research note on Friday, August 8th. Truist Financial raised shares of Block from a "sell" rating to a "hold" rating in a report on Monday, November 17th. Canaccord Genuity Group restated a "buy" rating and issued a $80.00 target price on shares of Block in a report on Tuesday, September 23rd. Morgan Stanley lifted their price target on shares of Block from $71.00 to $72.00 and gave the stock an "equal weight" rating in a research note on Friday. Finally, BNP Paribas cut shares of Block from a "strong-buy" rating to a "hold" rating and set a $86.00 price target for the company. in a research report on Tuesday, September 2nd. Three analysts have rated the stock with a Strong Buy rating, twenty-one have assigned a Buy rating, twelve have given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, Block has a consensus rating of "Moderate Buy" and an average price target of $83.42.
Check Out Our Latest Analysis on Block
About Block
(
Get Free Report)
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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