494,083 Block, Inc. $XYZ Shares Bought by Sumitomo Mitsui Trust Group Inc.

Sumitomo Mitsui Trust Group Inc. lifted its position in shares of Block, Inc. (NYSE:XYZ - Free Report) by 18.3% in the 3rd quarter, according to its most recent 13F filing with the SEC. The firm owned 3,194,419 shares of the technology company's stock after acquiring an additional 494,083 shares during the quarter. Sumitomo Mitsui Trust Group Inc. owned approximately 0.53% of Block worth $234,886,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in XYZ. BlackRock Inc. purchased a new stake in shares of Block in the 2nd quarter valued at about $621,703,000. Hyperion Asset Management Ltd boosted its position in Block by 6.9% during the second quarter. Hyperion Asset Management Ltd now owns 2,682,854 shares of the technology company's stock valued at $203,897,000 after buying an additional 172,848 shares during the period. Arrowstreet Capital Limited Partnership boosted its position in Block by 528.2% during the first quarter. Arrowstreet Capital Limited Partnership now owns 3,309,296 shares of the technology company's stock valued at $199,153,000 after buying an additional 2,782,523 shares during the period. Dimensional Fund Advisors LP grew its stake in shares of Block by 1.3% during the first quarter. Dimensional Fund Advisors LP now owns 3,147,988 shares of the technology company's stock valued at $189,353,000 after buying an additional 39,112 shares during the last quarter. Finally, Robeco Institutional Asset Management B.V. grew its stake in shares of Block by 2.2% during the third quarter. Robeco Institutional Asset Management B.V. now owns 1,595,616 shares of the technology company's stock valued at $117,326,000 after buying an additional 35,061 shares during the last quarter. Hedge funds and other institutional investors own 70.44% of the company's stock.

Block Stock Up 0.2%

XYZ stock opened at $76.36 on Monday. Block, Inc. has a twelve month low of $48.21 and a twelve month high of $86.92. The company has a quick ratio of 2.21, a current ratio of 2.21 and a debt-to-equity ratio of 0.26. The business has a 50 day moving average of $78.00 and a 200 day moving average of $71.08. The firm has a market cap of $45.88 billion, a PE ratio of 136.37, a price-to-earnings-growth ratio of 0.80 and a beta of 2.58.

Block (NYSE:XYZ - Get Free Report) last released its quarterly earnings data on Wednesday, August 5th. The technology company reported $1.02 earnings per share (EPS) for the quarter, beating the consensus estimate 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 for the quarter. During the same period last year, the company posted $0.62 earnings per share. The business'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, research analysts forecast that Block, Inc. will post 2.75 EPS for the current fiscal year.

Insider Buying and Selling

In other news, insider Brian Grassadonia sold 8,173 shares of the business's stock in a transaction 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 sale, the insider owned 513,981 shares of the company's stock, valued at $42,362,314.02. The trade was a 1.57% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Amrita Ahuja sold 9,511 shares of the business's stock in a transaction dated Monday, August 24th. The shares were sold at an average price of $82.43, for a total value of $783,991.73. Following the sale, the chief financial officer directly owned 423,262 shares of the company's stock, valued at $34,889,486.66. This represents a 2.20% 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. Over the last quarter, insiders have sold 282,657 shares of company stock valued at $22,650,237. 11.37% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on XYZ shares. Royal Bank Of Canada reiterated an "outperform" rating and set a $95.00 price target on shares of Block in a report on Wednesday, October 21st. UBS Group set a $96.00 price objective on shares of Block in a research note on Thursday, October 15th. Keefe, Bruyette & Woods increased their target price on shares of Block from $90.00 to $100.00 and gave the stock an "outperform" rating in a report on Thursday, August 6th. Benchmark raised Block to a "strong-buy" rating in a research note on Thursday, September 10th. Finally, KeyCorp raised their target price on Block from $105.00 to $108.00 and gave the stock an "overweight" rating in a research note on Thursday, August 6th. Three investment analysts have rated the stock with a Strong Buy rating, twenty-nine have given a Buy rating and nine have assigned a Hold rating to the stock. According to data from MarketBeat.com, Block currently has an average rating of "Moderate Buy" and a consensus price target of $95.61.

About Block

Block, Inc is a financial technology company that provides payments, commerce, and financial services through an ecosystem of business and consumer products. Formerly known as Square, the company was co-founded by Jack Dorsey and Jim McKelvey and changed its corporate name to Block in 2021.

Its Square ecosystem serves businesses with point-of-sale hardware, payment processing, invoicing, payroll, inventory management, customer engagement, online commerce, and other software tools. Block also offers lending and other financial services to eligible business customers through Square-related products.

For consumers, Block operates Cash App, a mobile financial services platform that supports services such as peer-to-peer payments, money transfers, a Cash App Card, direct deposit, investing, and bitcoin transactions, subject to product and geographic availability.

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