Block, Inc. $XYZ Shares Sold by Danica Pension Livsforsikringsaktieselskab

Danica Pension Livsforsikringsaktieselskab reduced its stake in Block, Inc. (NYSE:XYZ - Free Report) by 59.8% in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 868,370 shares of the technology company's stock after selling 1,290,606 shares during the quarter. Block comprises about 1.0% of Danica Pension Livsforsikringsaktieselskab's portfolio, making the stock its 24th largest holding. Danica Pension Livsforsikringsaktieselskab owned about 0.14% of Block worth $52,259,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors also recently bought and sold shares of XYZ. Ameriprise Financial Inc. purchased a new position in shares of Block in the second quarter worth $535,305,000. Norges Bank purchased a new stake in shares of Block during the fourth quarter valued at $484,387,000. Viking Global Investors LP acquired a new position in shares of Block in the 2nd quarter valued at $368,213,000. Capital World Investors raised its stake in Block by 41.8% in the 4th quarter. Capital World Investors now owns 16,023,441 shares of the technology company's stock worth $1,042,966,000 after acquiring an additional 4,727,217 shares during the last quarter. Finally, Invesco Ltd. lifted its position in Block by 241.4% during the 3rd quarter. Invesco Ltd. now owns 3,778,298 shares of the technology company's stock worth $273,058,000 after acquiring an additional 2,671,713 shares during the period. Hedge funds and other institutional investors own 70.44% of the company's stock.

Insider Buying and Selling at Block

In other news, insider Brian Grassadonia sold 43,348 shares of the business's stock in a transaction dated Thursday, July 2nd. The shares were sold at an average price of $80.00, for a total transaction of $3,467,840.00. Following the completion of the sale, the insider owned 557,654 shares of the company's stock, valued at $44,612,320. The trade was a 7.21% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Anthony Mathew Eisen sold 135,750 shares of the firm's stock in a transaction dated 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 completion of the transaction, the director directly owned 2,032,990 shares in the company, valued at $156,153,961.90. This represents a 6.26% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 323,300 shares of company stock valued at $24,742,756 over the last ninety days. Corporate insiders own 11.37% of the company's stock.

Block Stock Up 1.3%

Shares of XYZ opened at $80.29 on Wednesday. The firm has a market cap of $47.78 billion, a P/E ratio of 62.72, a PEG ratio of 1.00 and a beta of 2.54. Block, Inc. has a 12 month low of $48.21 and a 12 month high of $84.08. The stock's 50 day moving average is $74.05 and its two-hundred day moving average is $66.83. The company has a current ratio of 1.99, a quick ratio of 1.99 and a debt-to-equity ratio of 0.26.

Block (NYSE:XYZ - Get Free Report) last announced its earnings results on Thursday, May 7th. The technology company reported $0.85 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.30 by $0.55. The firm had revenue of $6.06 billion for the quarter. Block had a return on equity of 7.02% and a net margin of 3.30%.The company's quarterly revenue was up 4.9% on a year-over-year basis. During the same quarter last year, the business earned $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. Analysts predict that Block, Inc. will post 2.48 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of brokerages have recently weighed in on XYZ. Needham & Company LLC increased their price objective on Block from $90.00 to $95.00 and gave the company a "buy" rating in a report on Friday, May 8th. Zacks Research upgraded Block from a "hold" rating to a "strong-buy" rating in a research report on Wednesday, June 10th. Canaccord Genuity Group increased their price target on shares of Block from $80.00 to $85.00 and gave the stock a "buy" rating in a report on Monday, May 18th. Loop Capital started coverage on shares of Block in a research report on Tuesday, March 31st. They set a "buy" rating and a $75.00 price target for the company. Finally, Cantor Fitzgerald lifted their price objective on shares of Block from $78.00 to $88.00 and gave the company an "overweight" rating in a research note on Tuesday, April 21st. Five research analysts have rated the stock with a Strong Buy rating, twenty-four have issued a Buy rating and eight have assigned a Hold rating to the company. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $88.55.

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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