Block, Inc. $XYZ Shares Sold by Syon Capital LLC

Key Points

• Syon Capital reduced its Block stake by 11.5% in the second quarter, selling 41,211 shares and retaining 316,636 shares worth approximately $24.1 million. Institutional investors and hedge funds collectively own 70.44% of Block.
• Block reported quarterly EPS of $1.02, beating consensus estimates of $0.48, while revenue rose 9.3% year over year to $6.62 billion. Shares opened at $83.30, near their 52-week high of $86.92.
• Analysts maintain a favorable outlook, with Block receiving a “Moderate Buy” consensus rating and an average price target of $95.42. However, insiders sold approximately $29.7 million of stock over the past three months, mostly through pre-arranged trading plans.

Syon Capital LLC lessened its holdings in shares of Block, Inc. (NYSE:XYZ - Free Report) by 11.5% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 316,636 shares of the technology company's stock after selling 41,211 shares during the quarter. Block makes up about 1.1% of Syon Capital LLC's investment portfolio, making the stock its 22nd biggest position. Syon Capital LLC owned 0.05% of Block worth $24,064,000 as of its most recent SEC filing.

Several other hedge funds have also made changes to their positions in the business. Elevation Wealth Partners LLC increased its stake in Block by 301.0% in the second quarter. Elevation Wealth Partners LLC now owns 389 shares of the technology company's stock valued at $30,000 after purchasing an additional 292 shares during the last quarter. Global Assets Advisory LLC acquired a new stake in Block in the 1st quarter worth about $31,000. Cary Street Partners Investment Advisory LLC grew its holdings in Block by 57.6% in the 4th quarter. Cary Street Partners Investment Advisory LLC now owns 610 shares of the technology company's stock valued at $40,000 after buying an additional 223 shares during the period. Darwin Wealth Management LLC purchased a new stake in Block in the 2nd quarter valued at about $43,000. Finally, Osbon Capital Management LLC acquired a new position in shares of Block during the 4th quarter valued at about $43,000. Institutional investors and hedge funds own 70.44% of the company's stock.

Block Stock Up 1.0%

Shares of NYSE:XYZ opened at $83.30 on Friday. The stock has a 50-day simple moving average of $80.25 and a 200-day simple moving average of $70.99. The stock has a market capitalization of $50.05 billion, a P/E ratio of 148.75, a PEG ratio of 0.87 and a beta of 2.52. Block, Inc. has a 1 year low of $48.21 and a 1 year high of $86.92. 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 (NYSE:XYZ - Get Free Report) last posted its quarterly earnings results on Wednesday, August 5th. The technology company reported $1.02 EPS for the quarter, beating the consensus estimate 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 quarter in the previous year, the business posted $0.62 EPS. 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 2.72 earnings per share for the current year.

Insider Buying and Selling at Block

In related news, insider Brian Grassadonia sold 8,173 shares of the company's stock in a transaction on Monday, August 24th. The shares were sold at an average price of $82.42, for a total transaction of $673,618.66. Following the completion of the sale, the insider directly owned 513,981 shares of the company's stock, valued at approximately $42,362,314.02. This represents a 1.57% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Anthony Eisen sold 6,000 shares of the stock in a transaction on Monday, August 31st. The shares were sold at an average price of $82.58, for a total value of $495,480.00. Following the completion of the sale, the director owned 1,458,672 shares of the company's stock, valued at approximately $120,457,133.76. This represents a 0.41% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 372,006 shares of company stock worth $29,736,461 over the last three months. 11.37% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on XYZ. Wall Street Zen upgraded shares of Block from a "hold" rating to a "buy" rating in a report on Saturday, May 9th. Royal Bank Of Canada upped their price target on shares of Block from $93.00 to $95.00 and gave the stock an "outperform" rating in a research report on Thursday, August 6th. Cantor Fitzgerald reaffirmed an "overweight" rating and set a $95.00 price target on shares of Block in a research note on Thursday, August 6th. Monness Crespi & Hardt lifted their price target on shares of Block from $115.00 to $125.00 and gave the company a "buy" rating in a report on Friday, August 7th. Finally, Canaccord Genuity Group boosted their price objective on shares of Block from $85.00 to $100.00 and gave the company a "buy" rating in a research note on Thursday, August 13th. Three analysts have rated the stock with a Strong Buy rating, twenty-nine have given a Buy rating and nine have issued a Hold rating to the stock. According to data from MarketBeat.com, Block has an average rating of "Moderate Buy" and an average target price of $95.42.

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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