Key Points
- Ajmere Dale, Block's CAO, sold 1,173 shares on Jan. 2 at an average price of $65.09 for about $76,350, leaving him with 98,412 shares — a 1.18% reduction in his position.
- The Jan. 2 sale follows additional recent dispositions by Dale: 2,724 shares on Nov. 21 at $61.40 and 750 shares on Oct. 8 at $80, indicating multiple insider sales in recent months.
- Block posted an EPS beat ( $0.54 vs. $0.25 expected) on $6.11B in revenue, the stock has a $42.5B market cap and a 14.1 PE, and analysts have an average rating of Moderate Buy with a $83.12 target.
Block, Inc. (NYSE:XYZ - Get Free Report) CAO Ajmere Dale sold 1,173 shares of the business's stock in a transaction dated Friday, January 2nd. The shares were sold at an average price of $65.09, for a total value of $76,350.57. Following the completion of the transaction, the chief accounting officer owned 98,412 shares in the company, valued at $6,405,637.08. This trade represents a 1.18% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website.
Ajmere Dale also recently made the following trade(s):
- On Friday, November 21st, Ajmere Dale sold 2,724 shares of Block stock. The stock was sold at an average price of $61.40, for a total value of $167,253.60.
- On Wednesday, October 8th, Ajmere Dale sold 750 shares of Block stock. The shares were sold at an average price of $80.00, for a total value of $60,000.00.
Block Price Performance
Block stock opened at $69.94 on Wednesday. The company has a debt-to-equity ratio of 0.25, a current ratio of 2.18 and a quick ratio of 2.18. The business has a 50 day simple moving average of $65.35 and a 200-day simple moving average of $71.45. Block, Inc. has a 12 month low of $44.27 and a 12 month high of $94.25. The stock has a market capitalization of $42.50 billion, a PE ratio of 14.10, a price-to-earnings-growth ratio of 1.26 and a beta of 2.66.
Block (NYSE:XYZ - Get Free Report) last announced its quarterly earnings data on Thursday, November 6th. The technology company reported $0.54 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.25 by $0.29. The company had revenue of $6.11 billion for the quarter. Block had a net margin of 12.99% and a return on equity of 5.54%. The business's quarterly revenue was up 2.3% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.53 earnings per share. Equities analysts predict that Block, Inc. will post 2.54 earnings per share for the current year.
Wall Street Analyst Weigh In
A number of brokerages recently commented on XYZ. Piper Sandler reduced their price objective on shares of Block from $58.00 to $55.00 and set an "underweight" rating for the company in a research report on Friday, November 7th. The Goldman Sachs Group reduced their price target on Block from $96.00 to $82.00 and set a "buy" rating for the company in a report on Friday, November 7th. Oppenheimer restated an "outperform" rating and issued a $85.00 price target on shares of Block in a research note on Friday, November 7th. Stephens reiterated an "overweight" rating and issued a $95.00 price objective on shares of Block in a research report on Thursday, November 20th. Finally, KeyCorp restated an "overweight" rating and set a $94.00 target price on shares of Block in a research report on Wednesday, October 22nd. Three equities research analysts have rated the stock with a Strong Buy rating, twenty-two have given a Buy rating, eleven have given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of $83.12.
Check Out Our Latest Stock Analysis on Block
Hedge Funds Weigh In On Block
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in XYZ. Motley Fool Asset Management LLC acquired a new position in Block in the 2nd quarter valued at about $2,055,000. Norges Bank acquired a new stake in shares of Block during the 2nd quarter worth about $415,575,000. Y.D. More Investments Ltd purchased a new stake in shares of Block during the second quarter worth about $1,628,000. Korea Investment CORP acquired a new position in shares of Block in the second quarter valued at approximately $13,937,000. Finally, Shelton Capital Management acquired a new position in shares of Block in the second quarter valued at approximately $1,562,000. Institutional investors and hedge funds own 70.44% of the company's stock.
Block Company Profile
(
Get Free Report)
Block (NYSE:XYZ) is a financial technology company that builds products and services to facilitate electronic payments, commerce, and consumer finance. Its principal business lines include a seller-focused ecosystem that provides point-of-sale hardware and software, payment processing, invoicing, payroll and lending services, and a consumer-facing platform that offers peer-to-peer payments, banking-like features, and investing. Block's portfolio also encompasses music streaming and buy-now-pay-later capabilities through businesses acquired to broaden its reach beyond core payments.
The company was founded as Square in 2009 by Jack Dorsey and Jim McKelvey and later rebranded to Block to reflect a diversified set of businesses across payments, consumer finance, and emerging technologies.
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