19,906 Shares in Block, Inc. $XYZ Acquired by Old Mission Investment Co LLC

Key Points

• Old Mission Investment Co. LLC acquired 19,906 Block shares worth approximately $1.51 million in the second quarter. Institutional investors own 70.44% of the company, with several other funds also increasing their positions.
• Block reported quarterly EPS of $1.02, beating consensus estimates of $0.48, while revenue rose 9.3% year over year to $6.62 billion. The stock opened at $82.83 and is down 0.6%.
• Wall Street maintains a “Moderate Buy” consensus on Block, with an average price target of $95.42. Recent analysts raised targets as high as $108, although company insiders sold $30.7 million in shares over the past 90 days.

Old Mission Investment Co LLC bought a new stake in shares of Block, Inc. (NYSE:XYZ - Free Report) in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor bought 19,906 shares of the technology company's stock, valued at approximately $1,513,000.

A number of other large investors have also recently added to or reduced their stakes in XYZ. Timbuktu Capital Management LLC acquired a new position in Block in the second quarter worth approximately $111,000. Oakmont Investment Advisors Inc. bought a new position in shares of Block in the second quarter valued at $471,000. Odyssean LLC lifted its position in shares of Block by 92.4% during the 2nd quarter. Odyssean LLC now owns 42,762 shares of the technology company's stock valued at $3,250,000 after acquiring an additional 20,541 shares during the last quarter. Raiffeisen Bank International AG lifted its position in shares of Block by 0.3% during the 2nd quarter. Raiffeisen Bank International AG now owns 44,901 shares of the technology company's stock valued at $3,503,000 after acquiring an additional 148 shares during the last quarter. Finally, TD Waterhouse Canada Inc. boosted its stake in shares of Block by 5.2% during the 2nd quarter. TD Waterhouse Canada Inc. now owns 9,478 shares of the technology company's stock worth $732,000 after acquiring an additional 471 shares in the last quarter. 70.44% of the stock is currently owned by institutional investors.

Block Stock Down 0.6%

NYSE:XYZ opened at $82.83 on Friday. The firm has a market capitalization of $49.76 billion, a price-to-earnings ratio of 147.91, a PEG ratio of 0.88 and a beta of 2.52. Block, Inc. has a 1-year low of $48.21 and a 1-year high of $86.92. 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 business's fifty day moving average price is $80.35 and its 200 day moving average price is $71.08.

Block (NYSE:XYZ - Get Free Report) last announced its quarterly earnings data on Wednesday, August 5th. The technology company reported $1.02 EPS 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 firm had revenue of $6.62 billion during the quarter. During the same quarter in the previous year, the business posted $0.62 earnings per share. The company's revenue 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. On average, sell-side analysts forecast that Block, Inc. will post 2.72 earnings per share for the current fiscal year.

Insider Activity at Block

In related news, insider Owen Jennings sold 1,317 shares of the business's stock in a transaction that occurred on Monday, August 24th. The shares were sold at an average price of $81.48, for a total transaction of $107,309.16. Following the transaction, the insider directly owned 460,128 shares of the company's stock, valued at approximately $37,491,229.44. The trade was a 0.29% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Brian Grassadonia sold 8,173 shares of the company's stock in a transaction that occurred on Monday, August 24th. The shares were sold at an average price of $82.42, for a total transaction of $673,618.66. Following the completion of the transaction, the insider owned 513,981 shares in the company, valued at approximately $42,362,314.02. This represents a 1.57% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 384,006 shares of company stock valued at $30,695,321 over the last ninety days. 11.37% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

XYZ has been the topic of a number of recent research reports. Jefferies Financial Group started coverage on Block in a report on Tuesday, June 30th. They issued a "hold" rating on the stock. Deutsche Bank Aktiengesellschaft raised Block to a "buy" rating in a report on Tuesday, June 30th. KeyCorp lifted their price target on Block from $105.00 to $108.00 and gave the stock an "overweight" rating in a research note on Thursday, August 6th. Susquehanna boosted their price objective on Block from $90.00 to $100.00 and gave the stock a "positive" rating in a report on Thursday, August 6th. Finally, Robert W. Baird set a $105.00 price objective on Block in a report on Thursday, August 6th. Three analysts have rated the stock with a Strong Buy rating, twenty-nine have issued a Buy rating and nine have assigned a Hold rating to the stock. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average target price of $95.42.

Block Company Profile

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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