BlackRock Inc. Purchases New Position in Block, Inc. $XYZ

Key Points

• BlackRock acquired 16.3 million Block shares worth approximately $621.7 million, giving it a 2.74% stake; institutional investors collectively own 70.44% of the company.
• Analyst sentiment remains positive, with a consensus rating of “Moderate Buy” and an average price target of $95.23. Several firms recently raised their targets to between $100 and $125.
• Block reported quarterly EPS of $1.02, well above the $0.48 estimate, while revenue rose 9.3% year over year to $6.62 billion. However, insiders sold 461,070 shares worth about $36.3 million over the past three months.

BlackRock Inc. acquired a new position in shares of Block, Inc. (NYSE:XYZ - Free Report) during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 16,326,241 shares of the technology company's stock, valued at approximately $621,703,000. BlackRock Inc. owned about 2.74% of Block at the end of the most recent reporting period.

Other large investors have also recently bought and sold shares of the company. EverSource Wealth Advisors LLC grew its holdings in shares of Block by 33.9% in the 4th quarter. EverSource Wealth Advisors LLC now owns 707 shares of the technology company's stock valued at $46,000 after buying an additional 179 shares during the period. Merit Financial Group LLC raised its stake in Block by 3.7% during the 4th quarter. Merit Financial Group LLC now owns 5,270 shares of the technology company's stock worth $343,000 after buying an additional 188 shares during the period. Avior Wealth Management LLC grew its stake in Block by 3.3% in the second quarter. Avior Wealth Management LLC now owns 6,081 shares of the technology company's stock valued at $462,000 after acquiring an additional 193 shares during the period. Carson Advisory Inc. grew its stake in Block by 2.6% in the first quarter. Carson Advisory Inc. now owns 8,035 shares of the technology company's stock valued at $484,000 after acquiring an additional 200 shares during the period. Finally, Towarzystwo Funduszy Inwestycyjnych PZU SA raised its position in shares of Block by 33.3% during the third quarter. Towarzystwo Funduszy Inwestycyjnych PZU SA now owns 800 shares of the technology company's stock worth $58,000 after purchasing an additional 200 shares during the period. Institutional investors own 70.44% of the company's stock.

Wall Street Analyst Weigh In

XYZ has been the topic of several recent analyst reports. Piper Sandler lifted their price objective on Block from $100.00 to $105.00 and gave the company an "overweight" rating in a report on Thursday, August 6th. Susquehanna increased their target price on Block from $90.00 to $100.00 and gave the stock a "positive" rating in a research note on Thursday, August 6th. Canaccord Genuity Group lifted their price target on shares of Block from $85.00 to $100.00 and gave the company a "buy" rating in a research note on Thursday, August 13th. KeyCorp increased their price objective on shares of Block from $105.00 to $108.00 and gave the stock an "overweight" rating in a research report on Thursday, August 6th. Finally, Monness Crespi & Hardt boosted their price objective on shares of Block from $115.00 to $125.00 and gave the company a "buy" rating in a research report on Friday, August 7th. Three research analysts have rated the stock with a Strong Buy rating, twenty-eight have issued a Buy rating and eight have assigned a Hold rating to the company's stock. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $95.23.

Block Price Performance

Shares of NYSE XYZ opened at $82.15 on Monday. The stock has a market capitalization of $49.36 billion, a price-to-earnings ratio of 146.70, a PEG ratio of 0.92 and a beta of 2.53. The business has a 50-day moving average of $78.74 and a 200-day moving average of $69.23. The company has a debt-to-equity ratio of 0.26, a current ratio of 2.21 and a quick 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 released its earnings results on Wednesday, August 5th. The technology company reported $1.02 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.48 by $0.54. The business had revenue of $6.62 billion for the quarter. Block had a return on equity of 8.10% and a net margin of 1.43%.Block's revenue was up 9.3% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.62 EPS. 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, sell-side analysts predict that Block, Inc. will post 2.69 earnings per share for the current fiscal year.

Insider Activity at Block

In related news, Director Anthony Mathew Eisen sold 135,750 shares of the business's stock in a transaction on Monday, June 1st. The shares were sold at an average price of $76.81, for a total transaction of $10,426,957.50. Following the transaction, the director directly owned 2,032,990 shares in the company, valued at approximately $156,153,961.90. The trade was a 6.26% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Brian Grassadonia sold 43,348 shares of the business's stock in a transaction on Thursday, July 2nd. The stock was sold at an average price of $80.00, for a total transaction of $3,467,840.00. Following the transaction, the insider owned 557,654 shares in the company, valued at approximately $44,612,320. The trade was a 7.21% decrease in their ownership of the stock. 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. Over the last three months, insiders sold 461,070 shares of company stock valued at $36,261,272. 11.37% of the stock is owned by corporate insiders.

Block 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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