106,990 Block, Inc. $XYZ Shares Bought by Assenagon Asset Management S.A.

Key Points

• Assenagon Asset Management increased its Block holdings by 11.4%, buying 106,990 shares to reach 1.04 million shares valued at approximately $76.8 million.
• Institutional investors own 70.44% of Block, while insiders own 11.37%; director Anthony Eisen recently sold 6,000 shares under a pre-arranged Rule 10b5-1 plan.
• Analysts maintain a “Moderate Buy” consensus with an average price target of $95.39. Block recently beat quarterly earnings estimates, reporting $1.02 in adjusted EPS and $6.62 billion in revenue, up 9.3% year over year.

Assenagon Asset Management S.A. increased its holdings in Block, Inc. (NYSE:XYZ - Free Report) by 11.4% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,044,530 shares of the technology company's stock after buying an additional 106,990 shares during the period. Assenagon Asset Management S.A. owned 0.17% of Block worth $76,804,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds also recently made changes to their positions in XYZ. Hsbc Holdings PLC boosted its position in Block by 7.2% in the fourth quarter. Hsbc Holdings PLC now owns 1,223,824 shares of the technology company's stock valued at $79,749,000 after buying an additional 82,446 shares in the last quarter. Jones Financial Companies Lllp bought a new stake in shares of Block during the second quarter worth $366,000. PNC Financial Services Group Inc. increased its holdings in shares of Block by 35.7% during the first quarter. PNC Financial Services Group Inc. now owns 69,637 shares of the technology company's stock worth $4,191,000 after buying an additional 18,326 shares in the last quarter. Swiss National Bank increased its holdings in shares of Block by 6.7% during the first quarter. Swiss National Bank now owns 1,607,286 shares of the technology company's stock worth $96,726,000 after buying an additional 101,300 shares in the last quarter. Finally, Old Mission Investment Co LLC acquired a new position in shares of Block during the second quarter worth $1,513,000. Institutional investors own 70.44% of the company's stock.

Insider Activity at Block

In other news, Director Anthony Eisen sold 6,000 shares of the company's stock in a transaction that occurred on Wednesday, October 14th. The stock was sold at an average price of $75.70, for a total transaction of $454,200.00. Following the transaction, the director directly owned 1,272,672 shares of the company's stock, valued at $96,341,270.40. This represents a 0.47% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 302,565 shares of company stock worth $24,391,386 in the last ninety days. Insiders own 11.37% of the company's stock.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on XYZ. Royal Bank Of Canada boosted their price objective on Block from $93.00 to $95.00 and gave the stock an "outperform" rating in a research report on Thursday, August 6th. BTIG Research reiterated a "buy" rating and issued a $100.00 target price on shares of Block in a research report on Friday, September 25th. UBS Group set a $96.00 target price on Block in a research report on Thursday. Craig Hallum began coverage on Block in a research note on Tuesday, June 30th. They set a "buy" rating on the stock. Finally, Susquehanna boosted their price target on Block from $90.00 to $100.00 and gave the stock a "positive" rating in a report on Thursday, August 6th. Four investment analysts have rated the stock with a Strong Buy rating, twenty-nine have issued a Buy rating and nine have issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $95.39.

Block Stock Performance

Shares of XYZ opened at $77.88 on Friday. The company has a current ratio of 2.21, a quick ratio of 2.21 and a debt-to-equity ratio of 0.26. The firm's fifty day simple moving average is $78.77 and its two-hundred day simple moving average is $74.88. Block, Inc. has a 12 month low of $48.21 and a 12 month high of $86.92. The stock has a market capitalization of $46.79 billion, a P/E ratio of 27.34, a price-to-earnings-growth ratio of 0.83 and a beta of 2.55.

Block (NYSE:XYZ - Get Free Report) last issued its earnings results on Wednesday, August 5th. The technology company reported $1.02 earnings per share for the quarter, topping analysts' consensus estimates of $0.48 by $0.54. Block had a return on equity of 8.10% and a net margin of 1.43%. The business had revenue of $6.62 billion during the quarter. During the same quarter in the previous year, the firm posted $0.62 earnings per share. The company's revenue for the quarter was up 9.3% compared to the same quarter last year. Block has set its FY 2026 guidance at 4.020-4.020 EPS and its Q3 2026 guidance at 1.020-1.020 EPS. As a group, analysts predict that Block, Inc. will post 2.74 EPS for the current year.

About Block

Block, Inc NYSE: XYZ, formerly known as Square, is a financial technology company that develops tools for businesses, consumers and creators. Founded in 2009 by Jack Dorsey and Jim McKelvey, the company changed its corporate name to Block in 2021 to reflect the expansion of its operations beyond its original seller-payments business.

Block's Square ecosystem provides payment processing, point-of-sale hardware and software, business banking, invoicing, payroll, inventory management and other services for merchants.

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