Block, Inc. $XYZ Shares Sold by Pictet Asset Management Holding SA

Key Points

• Pictet Asset Management cut its Block stake by 16.7% in the first quarter, selling 46,106 shares and leaving it with 230,082 shares valued at about $13.8 million.
• Wall Street sentiment on Block is generally positive, with several firms raising targets or issuing buy ratings; the stock’s consensus rating is Moderate Buy with an average price target of $87.56.
• Block beat quarterly earnings expectations, posting $0.85 EPS versus the $0.30 estimate, while revenue rose 4.9% year over year to $6.06 billion.

Pictet Asset Management Holding SA lowered its position in shares of Block, Inc. (NYSE:XYZ - Free Report) by 16.7% in the first quarter, according to its most recent 13F filing with the SEC. The firm owned 230,082 shares of the technology company's stock after selling 46,106 shares during the quarter. Pictet Asset Management Holding SA's holdings in Block were worth $13,838,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. Inceptionr LLC lifted its holdings in shares of Block by 455.1% during the 3rd quarter. Inceptionr LLC now owns 19,480 shares of the technology company's stock valued at $1,408,000 after acquiring an additional 15,971 shares in the last quarter. Allstate Corp increased its holdings in Block by 91.9% in the 4th quarter. Allstate Corp now owns 39,281 shares of the technology company's stock valued at $2,557,000 after purchasing an additional 18,812 shares in the last quarter. Moran Wealth Management LLC raised its position in Block by 37.3% in the fourth quarter. Moran Wealth Management LLC now owns 57,651 shares of the technology company's stock valued at $3,753,000 after purchasing an additional 15,670 shares during the period. National Pension Service raised its position in Block by 8.4% in the fourth 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 period. Finally, Hsbc Holdings PLC lifted its stake in shares of Block by 7.2% during the fourth quarter. Hsbc Holdings PLC now owns 1,223,824 shares of the technology company's stock worth $79,749,000 after purchasing an additional 82,446 shares in the last quarter. Institutional investors and hedge funds own 70.44% of the company's stock.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on XYZ. Zacks Research raised Block from a "hold" rating to a "strong-buy" rating in a research report on Wednesday, June 10th. Truist Financial boosted their price target on Block from $81.00 to $82.00 and gave the stock a "buy" rating in a research report on Wednesday, May 27th. BTIG Research restated a "buy" rating and issued a $90.00 price target on shares of Block in a report on Friday, May 8th. Jefferies Financial Group began coverage on shares of Block in a research report on Tuesday. They issued a "hold" rating for the company. Finally, Needham & Company LLC lifted their price objective on shares of Block from $90.00 to $95.00 and gave the company a "buy" rating in a research note on Friday, May 8th. Four research analysts have rated the stock with a Strong Buy rating, twenty-six have assigned a Buy rating, seven have assigned a Hold rating and one has given a Sell rating to the company's stock. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average price target of $87.56.

Insider Activity

In other Block news, insider Brian Grassadonia sold 8,166 shares of Block stock in a transaction that occurred on Friday, May 22nd. The stock was sold at an average price of $68.01, for a total value of $555,369.66. Following the completion of the transaction, the insider directly owned 601,002 shares in the company, valued at $40,874,146.02. The trade was a 1.34% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, 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 Block stock in a transaction that occurred on Monday, June 1st. The shares were sold at an average price of $76.81, for a total value of $10,426,957.50. Following the completion of the transaction, the director owned 2,032,990 shares of the company's stock, valued at approximately $156,153,961.90. The trade was a 6.26% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last three months, insiders sold 291,773 shares of company stock valued at $22,057,296. Company insiders own 11.37% of the company's stock.

Block Stock Performance

Shares of XYZ opened at $78.71 on Friday. The stock has a market capitalization of $46.85 billion, a PE ratio of 61.50, a price-to-earnings-growth ratio of 0.98 and a beta of 2.54. The business's fifty day moving average price is $72.04 and its 200 day moving average price is $65.56. The company has a debt-to-equity ratio of 0.26, a current ratio of 1.99 and a quick ratio of 1.99. Block, Inc. has a 12-month low of $48.21 and a 12-month high of $82.50.

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

Block Company 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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