Block, Inc. $XYZ Shares Sold by North Dakota State Investment Board

Key Points

• North Dakota State Investment Board reduced its Block stake by 51.3% in the third quarter, selling 16,798 shares and retaining 15,947 shares valued at approximately $1.17 million. Institutional investors and hedge funds collectively own 70.44% of Block.
• Block reported quarterly earnings of $1.02 per share, well above the $0.48 analyst consensus, while revenue rose 9.3% year over year to $6.62 billion.
• Analyst sentiment remains positive, with a consensus “Moderate Buy” rating and an average price target of $95.61, although recent recommendations ranged from Morgan Stanley’s downgrade to “equal weight” to higher targets from Canaccord Genuity and Wolfe Research.

North Dakota State Investment Board cut its stake in Block, Inc. (NYSE:XYZ - Free Report) by 51.3% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 15,947 shares of the technology company's stock after selling 16,798 shares during the period. North Dakota State Investment Board's holdings in Block were worth $1,173,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Elevation Wealth Partners LLC lifted its position in shares of Block by 301.0% in the 2nd quarter. Elevation Wealth Partners LLC now owns 389 shares of the technology company's stock worth $30,000 after purchasing an additional 292 shares during the period. Global Assets Advisory LLC acquired a new position in shares of Block in the 1st quarter worth approximately $31,000. Ancora Advisors LLC bought a new stake in shares of Block in the 2nd quarter valued at $53,000. Annis Gardner Whiting Capital Advisors LLC boosted its stake in shares of Block by 1,033.3% in the 1st quarter. Annis Gardner Whiting Capital Advisors LLC now owns 918 shares of the technology company's stock valued at $55,000 after purchasing an additional 837 shares during the last quarter. Finally, Meeder Asset Management Inc. bought a new stake in shares of Block in the 2nd quarter valued at $46,000. Institutional investors and hedge funds own 70.44% of the company's stock.

Block Stock Performance

Shares of XYZ stock opened at $76.36 on Friday. The company has a market cap of $45.88 billion, a price-to-earnings ratio of 26.35, a price-to-earnings-growth ratio of 0.80 and a beta of 2.55. Block, Inc. has a 52 week low of $48.21 and a 52 week high of $86.92. The company has a quick ratio of 2.21, a current ratio of 2.21 and a debt-to-equity ratio of 0.26. The firm has a 50 day moving average of $78.00 and a 200-day moving average of $71.08.

Block (NYSE:XYZ - Get Free Report) last released its quarterly earnings data on Wednesday, August 5th. The technology company reported $1.02 earnings per share for the quarter, beating the consensus estimate of $0.48 by $0.54. Block had a net margin of 1.43% and a return on equity of 8.10%. The company had revenue of $6.62 billion during the quarter. During the same quarter in the prior year, the firm earned $0.62 EPS. The business's revenue was up 9.3% compared to the same quarter last year. Block has set its FY 2026 guidance at 4.020-4.020 EPS and its Q3 2026 guidance at 1.020-1.020 EPS. On average, equities analysts forecast that Block, Inc. will post 2.75 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on XYZ. Canaccord Genuity Group lifted their target price on shares of Block from $85.00 to $100.00 and gave the stock a "buy" rating in a research note on Thursday, August 13th. Morgan Stanley cut shares of Block from an "overweight" rating to an "equal weight" rating and cut their price target for the company from $90.00 to $80.00 in a research report on Monday, October 26th. Barclays initiated coverage on shares of Block in a research report on Tuesday, July 7th. They set an "overweight" rating and a $100.00 price target on the stock. Wolfe Research increased their price target on Block from $100.00 to $115.00 and gave the stock an "outperform" rating in a report on Tuesday, August 25th. Finally, Benchmark raised Block to a "strong-buy" rating in a research report on Thursday, September 10th. Three equities research analysts have rated the stock with a Strong Buy rating, twenty-nine have given a Buy rating and nine have given a Hold rating to the company. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average price target of $95.61.

Insider Buying and Selling

In other Block news, Director Anthony Eisen sold 6,000 shares of Block stock in a transaction on Wednesday, October 28th. The shares were sold at an average price of $74.44, for a total value of $446,640.00. Following the completion of the sale, the director directly owned 1,212,672 shares of the company's stock, valued at approximately $90,271,303.68. The trade was a 0.49% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 314,565 shares of company stock valued at $25,254,486 in the last ninety days. Company insiders own 11.37% of the company's stock.

About Block

Block, Inc is a financial technology company that provides payments, commerce, and financial services through an ecosystem of business and consumer products. Formerly known as Square, the company was co-founded by Jack Dorsey and Jim McKelvey and changed its corporate name to Block in 2021.

Its Square ecosystem serves businesses with point-of-sale hardware, payment processing, invoicing, payroll, inventory management, customer engagement, online commerce, and other software tools. Block also offers lending and other financial services to eligible business customers through Square-related products.

For consumers, Block operates Cash App, a mobile financial services platform that supports services such as peer-to-peer payments, money transfers, a Cash App Card, direct deposit, investing, and bitcoin transactions, subject to product and geographic availability.

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