Block, Inc. $XYZ Shares Sold by Andra AP fonden

Andra AP fonden decreased its position in shares of Block, Inc. (NYSE:XYZ - Free Report) by 37.6% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 93,181 shares of the technology company's stock after selling 56,200 shares during the quarter. Andra AP fonden's holdings in Block were worth $7,082,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also modified their holdings of the company. Allstate Corp boosted its stake in shares of Block by 91.9% during the fourth quarter. Allstate Corp now owns 39,281 shares of the technology company's stock valued at $2,557,000 after acquiring an additional 18,812 shares during the last quarter. National Pension Service raised its stake in Block by 8.4% in the 4th quarter. National Pension Service now owns 833,124 shares of the technology company's stock valued at $54,228,000 after purchasing an additional 64,674 shares during the last quarter. Hsbc Holdings PLC lifted its holdings in Block by 7.2% in the 4th quarter. Hsbc Holdings PLC now owns 1,223,824 shares of the technology company's stock valued at $79,749,000 after purchasing an additional 82,446 shares in the last quarter. Jones Financial Companies Lllp purchased a new position in Block in the 2nd quarter valued at about $366,000. Finally, Mawer Investment Management Ltd. acquired a new stake in shares of Block during the 4th quarter worth about $3,062,000. Institutional investors and hedge funds own 70.44% of the company's stock.

Analysts Set New Price Targets

Several brokerages have weighed in on XYZ. Argus boosted their price target on Block from $86.00 to $103.00 and gave the company a "buy" rating in a report on Friday, August 7th. Susquehanna raised their price objective on Block from $90.00 to $100.00 and gave the stock a "positive" rating in a report on Thursday, August 6th. UBS Group lifted their price objective on Block from $92.00 to $98.00 and gave the company a "buy" rating in a research report on Thursday, August 6th. TD Cowen increased their target price on Block from $101.00 to $105.00 and gave the stock a "buy" rating in a research report on Thursday, August 6th. Finally, Monness Crespi & Hardt lifted their price target on Block from $115.00 to $125.00 and gave the company a "buy" rating in a report on Friday, August 7th. Four 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 company's stock. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $95.42.

Insiders Place Their Bets

In other news, Director Anthony Eisen sold 41,000 shares of the firm's stock in a transaction dated Wednesday, August 5th. The stock was sold at an average price of $85.85, for a total transaction of $3,519,850.00. Following the completion of the sale, the director directly owned 1,566,672 shares in the company, valued at $134,498,791.20. This trade represents a 2.55% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 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 dated 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 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 ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 375,913 shares of company stock worth $30,384,506 in the last quarter. 11.37% of the stock is owned by corporate insiders.

Block Stock Down 3.7%

Shares of NYSE:XYZ opened at $74.70 on Thursday. 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 1 year low of $48.21 and a 1 year high of $86.92. The stock has a market capitalization of $44.88 billion, a P/E ratio of 133.39, a PEG ratio of 0.81 and a beta of 2.52. The stock has a 50-day simple moving average of $80.38 and a 200-day simple moving average of $73.17.

Block (NYSE:XYZ - Get Free Report) last announced its quarterly earnings results on Wednesday, August 5th. The technology company reported $1.02 earnings per share for the quarter, beating analysts' consensus estimates of $0.48 by $0.54. The firm had revenue of $6.62 billion for the quarter. Block had a net margin of 1.43% and a return on equity of 8.10%. The company's quarterly revenue was up 9.3% on a year-over-year basis. During the same period last year, the firm earned $0.62 earnings per share. Block has set its FY 2026 guidance at 4.020-4.020 EPS and its Q3 2026 guidance at 1.020-1.020 EPS. Equities analysts forecast that Block, Inc. will post 2.74 earnings per share for the current year.

Block Company Profile

Block, Inc is a global technology company that develops financial services and commerce tools for businesses and consumers. Founded in 2009 as Square, the company changed its corporate name to Block in 2021 to reflect the expansion of its operations beyond seller-focused payment solutions.

Through its Square ecosystem, Block provides payment processing, point-of-sale hardware and software, business banking, invoicing, payroll, inventory management and other tools for merchants. Its consumer-focused Cash App offers services that may include peer-to-peer payments, money transfers, investing, debit-card access and bitcoin-related functionality, subject to availability and applicable regulations.

Block also owns Afterpay, a buy now, pay later platform, and has operated additional businesses involving music streaming and bitcoin infrastructure.

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