Block, Inc. $XYZ Shares Acquired by Osborne Partners Capital Management LLC

Key Points

• Osborne Partners Capital Management increased its stake in Block by 11.0% in Q4, adding 22,868 shares to hold 230,146 shares valued at about $14.98 million.
• Large institutions continue to build positions—Vanguard now owns 67.6 million shares and institutional investors collectively hold 70.44% of the company—reflecting substantial institutional confidence.
• Wall Street is broadly positive with a consensus rating of “Moderate Buy” and an average price target of $81.72, supported by a recent earnings beat (Q4 EPS $0.65 vs. $0.26 estimate) and multiple price-target upgrades.

Osborne Partners Capital Management LLC increased its stake in Block, Inc. (NYSE:XYZ - Free Report) by 11.0% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 230,146 shares of the technology company's stock after buying an additional 22,868 shares during the quarter. Osborne Partners Capital Management LLC's holdings in Block were worth $14,980,000 as of its most recent filing with the SEC.

A number of other large investors have also modified their holdings of the stock. Vanguard Group Inc. grew its stake in shares of Block by 23.1% in the third quarter. Vanguard Group Inc. now owns 67,626,485 shares of the technology company's stock valued at $4,887,366,000 after buying an additional 12,709,824 shares in the last quarter. Sands Capital Management LLC boosted its holdings in Block by 12.2% in the third quarter. Sands Capital Management LLC now owns 11,603,057 shares of the technology company's stock valued at $838,553,000 after purchasing an additional 1,262,317 shares during the last quarter. Capital World Investors boosted its holdings in Block by 192.7% in the third quarter. Capital World Investors now owns 11,296,224 shares of the technology company's stock valued at $816,378,000 after purchasing an additional 7,436,380 shares during the last quarter. Ameriprise Financial Inc. purchased a new position in Block in the second quarter valued at about $535,305,000. Finally, Viking Global Investors LP purchased a new position in Block in the second quarter valued at about $368,213,000. Institutional investors and hedge funds own 70.44% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on the company. TD Cowen increased their price target on Block from $91.00 to $95.00 and gave the company a "buy" rating in a report on Friday, February 27th. HSBC raised Block from a "hold" rating to a "buy" rating and increased their price target for the company from $70.00 to $77.00 in a report on Tuesday, March 3rd. Loop Capital assumed coverage on Block in a report on Tuesday, March 31st. They issued a "buy" rating and a $75.00 price target for the company. Needham & Company LLC increased their price target on Block from $80.00 to $90.00 and gave the company a "buy" rating in a report on Friday, February 27th. Finally, Cantor Fitzgerald reaffirmed an "overweight" rating and set a $70.00 target price on shares of Block in a report on Friday, February 27th. Four research analysts have rated the stock with a Strong Buy rating, twenty-seven have issued a Buy rating, seven have issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, Block currently has a consensus rating of "Moderate Buy" and an average price target of $81.72.

Insider Activity at Block

In related news, insider Owen Britton Jennings sold 3,555 shares of the firm's stock in a transaction that occurred on Tuesday, March 3rd. The stock was sold at an average price of $63.41, for a total value of $225,422.55. Following the sale, the insider owned 231,262 shares of the company's stock, valued at approximately $14,664,323.42. This trade represents a 1.51% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Brian Grassadonia sold 1,769 shares of the firm's stock in a transaction that occurred on Monday, April 6th. The stock was sold at an average price of $60.25, for a total value of $106,582.25. Following the completion of the sale, the insider directly owned 500,763 shares in the company, valued at approximately $30,170,970.75. This trade represents a 0.35% 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. In the last three months, insiders sold 15,806 shares of company stock worth $857,468. Company insiders own 10.49% of the company's stock.

Block Trading Up 3.6%

Shares of NYSE XYZ opened at $73.84 on Tuesday. The company has a market cap of $44.24 billion, a price-to-earnings ratio of 35.16, a price-to-earnings-growth ratio of 1.13 and a beta of 2.61. Block, Inc. has a 12-month low of $44.27 and a 12-month high of $82.50. The company has a current ratio of 2.20, a quick ratio of 2.20 and a debt-to-equity ratio of 0.26. The stock's 50 day simple moving average is $59.85 and its 200 day simple moving average is $64.67.

Block (NYSE:XYZ - Get Free Report) last announced its quarterly earnings results on Thursday, February 26th. The technology company reported $0.65 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.26 by $0.39. The business had revenue of $6.25 billion for the quarter. Block had a return on equity of 6.66% and a net margin of 5.40%.The company's revenue for the quarter was up 3.6% on a year-over-year basis. During the same period last year, the business posted $0.71 EPS. Equities research analysts expect that Block, Inc. will post 2.23 EPS for the current year.

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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