Allworth Financial LP Makes New $540,000 Investment in Block, Inc. $XYZ

Key Points

• Allworth Financial LP initiated a Block stake in the second quarter, purchasing 14,168 shares valued at approximately $540,000. Institutional investors collectively own 70.44% of the company.
• Block reported quarterly earnings of $1.02 per share, beating the $0.48 consensus estimate, while revenue rose 9.3% year over year to $6.62 billion.
• Analyst sentiment remains favorable, with the stock carrying a “Moderate Buy” consensus rating and an average price target of $95.23; meanwhile, insiders sold $36.3 million of shares over the past 90 days.

Allworth Financial LP acquired a new stake in shares of Block, Inc. (NYSE:XYZ - Free Report) in the 2nd quarter, according to its most recent 13F filing with the SEC. The fund acquired 14,168 shares of the technology company's stock, valued at approximately $540,000.

Other large investors have also made changes to their positions in the company. EverSource Wealth Advisors LLC lifted its position in Block by 33.9% during the fourth quarter. EverSource Wealth Advisors LLC now owns 707 shares of the technology company's stock valued at $46,000 after purchasing an additional 179 shares during the period. Merit Financial Group LLC increased its holdings in shares of Block by 3.7% during the 4th quarter. Merit Financial Group LLC now owns 5,270 shares of the technology company's stock valued at $343,000 after purchasing an additional 188 shares in the last quarter. Avior Wealth Management LLC increased its holdings in shares of Block by 3.3% during the 2nd quarter. Avior Wealth Management LLC now owns 6,081 shares of the technology company's stock valued at $462,000 after purchasing an additional 193 shares in the last quarter. Carson Advisory Inc. lifted its stake in shares of Block by 2.6% in the 1st quarter. Carson Advisory Inc. now owns 8,035 shares of the technology company's stock valued at $484,000 after purchasing an additional 200 shares during the period. Finally, Towarzystwo Funduszy Inwestycyjnych PZU SA lifted its stake in shares of Block by 33.3% in the 3rd quarter. Towarzystwo Funduszy Inwestycyjnych PZU SA now owns 800 shares of the technology company's stock valued at $58,000 after purchasing an additional 200 shares during the period. 70.44% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Block

In related news, Director Anthony Mathew Eisen sold 135,750 shares of the stock in a transaction that occurred on Monday, June 1st. The stock was sold at an average price of $76.81, for a total value of $10,426,957.50. Following the completion of the sale, the director owned 2,032,990 shares of the company's stock, valued at approximately $156,153,961.90. This trade represents a 6.26% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Amrita Ahuja sold 8,971 shares of the business's stock in a transaction on Wednesday, August 5th. The stock was sold at an average price of $85.85, for a total value of $770,160.35. Following the transaction, the chief financial officer directly owned 454,275 shares in the company, valued at $38,999,508.75. This trade represents a 1.94% 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 have sold a total of 461,070 shares of company stock worth $36,261,272 in the last ninety days. Insiders own 11.37% of the company's stock.

Block Trading Down 0.0%

Shares of XYZ stock opened at $82.15 on Monday. The stock's fifty day moving average is $78.74 and its two-hundred day moving average is $69.23. The firm has a market capitalization of $49.36 billion, a P/E ratio of 146.70, a PEG ratio of 0.92 and a beta of 2.53. The company has a debt-to-equity ratio of 0.26, a quick ratio of 2.21 and a current ratio of 2.21. Block, Inc. has a fifty-two week low of $48.21 and a fifty-two week high of $86.75.

Block (NYSE:XYZ - Get Free Report) last posted its quarterly earnings results on Wednesday, August 5th. The technology company reported $1.02 earnings per share for the quarter, topping the consensus estimate of $0.48 by $0.54. Block had a net margin of 1.43% and a return on equity of 8.10%. The firm had revenue of $6.62 billion for the quarter. During the same period in the prior year, the business posted $0.62 earnings per share. The business's quarterly revenue was up 9.3% on a year-over-year basis. Block has set its FY 2026 guidance at 4.020-4.020 EPS and its Q3 2026 guidance at 1.020-1.020 EPS. Research analysts expect that Block, Inc. will post 2.69 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research firms recently commented on XYZ. Keefe, Bruyette & Woods raised their price target on shares of Block from $90.00 to $100.00 and gave the company an "outperform" rating in a research report on Thursday, August 6th. Susquehanna lifted their price target on Block from $90.00 to $100.00 and gave the company a "positive" rating in a research note on Thursday, August 6th. Argus upped their price target on Block from $86.00 to $103.00 and gave the stock a "buy" rating in a report on Friday, August 7th. Weiss Ratings upgraded Block from a "hold (c-)" rating to a "hold (c)" rating in a research report on Thursday, August 6th. Finally, Jefferies Financial Group began coverage on Block in a research report on Tuesday, June 30th. They set a "hold" rating on the stock. Three research analysts have rated the stock with a Strong Buy rating, twenty-eight have issued a Buy rating and eight have given a Hold rating to the company's stock. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of $95.23.

About Block

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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