Bank of Nova Scotia Trims Stock Holdings in Block, Inc. $XYZ

Bank of Nova Scotia lowered its stake in Block, Inc. (NYSE:XYZ - Free Report) by 16.2% during the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 67,131 shares of the technology company's stock after selling 13,007 shares during the quarter. Bank of Nova Scotia's holdings in Block were worth $4,040,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also recently made changes to their positions in XYZ. Sound Income Strategies LLC increased its holdings in Block by 57.1% in the 4th quarter. Sound Income Strategies LLC now owns 443 shares of the technology company's stock worth $29,000 after acquiring an additional 161 shares in the last quarter. Rachor Investment Advisory Services LLC bought a new stake in Block during the 4th quarter worth approximately $32,000. Global Assets Advisory LLC bought a new stake in Block during the 1st quarter worth approximately $31,000. Cary Street Partners Investment Advisory LLC lifted its holdings in Block by 57.6% during the fourth quarter. Cary Street Partners Investment Advisory LLC now owns 610 shares of the technology company's stock valued at $40,000 after purchasing an additional 223 shares in the last quarter. Finally, Darwin Wealth Management LLC purchased a new position in Block during the second quarter valued at approximately $43,000. 70.44% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Block

In other Block news, Director Anthony Mathew Eisen sold 6,000 shares of the firm's stock in a transaction that occurred on Monday, July 20th. The stock was sold at an average price of $78.90, for a total transaction of $473,400.00. Following the completion of the transaction, the director owned 1,673,672 shares in the company, valued at $132,052,720.80. This trade represents a 0.36% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Brian Grassadonia sold 43,348 shares of Block stock in a transaction that occurred on Thursday, July 2nd. The stock was sold at an average price of $80.00, for a total value of $3,467,840.00. Following the completion of the sale, the insider directly owned 557,654 shares in the company, valued at approximately $44,612,320. The trade was a 7.21% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 335,300 shares of company stock worth $25,690,936 over the last quarter. 11.37% of the stock is owned by company insiders.

Block Trading Up 2.1%

Shares of XYZ opened at $82.98 on Wednesday. The firm has a market cap of $49.39 billion, a P/E ratio of 64.83, a price-to-earnings-growth ratio of 1.02 and a beta of 2.54. The company has a debt-to-equity ratio of 0.26, a current ratio of 1.99 and a quick ratio of 1.99. Block, Inc. has a 1 year low of $48.21 and a 1 year high of $84.08. The company has a 50 day simple moving average of $74.93 and a two-hundred day simple moving average of $67.22.

Block (NYSE:XYZ - Get Free Report) last released its earnings results on Thursday, May 7th. The technology company reported $0.85 EPS for the quarter, topping the consensus estimate of $0.30 by $0.55. The firm had revenue of $6.06 billion for the quarter. Block had a net margin of 3.30% and a return on equity of 7.02%. Block's quarterly revenue was up 4.9% compared to the same quarter last year. During the same period last year, the firm posted $0.56 EPS. Block has set its Q2 2026 guidance at 0.860-0.860 EPS and its FY 2026 guidance at 3.850-3.850 EPS. On average, equities analysts expect that Block, Inc. will post 2.48 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on XYZ shares. Weiss Ratings raised shares of Block from a "sell (d+)" rating to a "hold (c-)" rating in a research note on Monday, June 1st. Canaccord Genuity Group lifted their target price on shares of Block from $80.00 to $85.00 and gave the company a "buy" rating in a research note on Monday, May 18th. KeyCorp upped their target price on shares of Block from $100.00 to $105.00 and gave the stock an "overweight" rating in a report on Thursday, July 23rd. Robert W. Baird upped 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, July 2nd. Finally, Clear Str upgraded Block to a "hold" rating in a research note on Thursday, July 16th. Four investment analysts have rated the stock with a Strong Buy rating, twenty-four have given a Buy rating and nine have assigned a Hold rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $89.84.

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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