Canada Pension Plan Investment Board Acquires Shares of 505,000 Block, Inc. $XYZ

Key Points

• Canada Pension Plan Investment Board acquired 505,000 Block shares worth approximately $19.23 million, representing about 0.08% of the company. Institutional investors collectively own 70.44% of Block.
• Block reported quarterly EPS of $1.02, exceeding analysts’ $0.48 consensus, while revenue reached $6.62 billion—up 9.3% year over year.
• Analysts maintain a “Moderate Buy” consensus, with an average price target of $95.84 compared with the stock’s reported price of $83.58; several firms recently raised their targets above $100.

Canada Pension Plan Investment Board acquired a new position in Block, Inc. (NYSE:XYZ - Free Report) during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 505,000 shares of the technology company's stock, valued at approximately $19,230,000. Canada Pension Plan Investment Board owned approximately 0.08% of Block as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors also recently made changes to their positions in the company. Allstate Corp lifted its stake in shares of Block by 91.9% in the fourth quarter. Allstate Corp now owns 39,281 shares of the technology company's stock worth $2,557,000 after buying an additional 18,812 shares in the last quarter. National Pension Service raised its holdings 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 acquiring an additional 64,674 shares during the last quarter. Hsbc Holdings PLC lifted its stake in Block by 7.2% in the 4th 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. Jones Financial Companies Lllp acquired a new position in shares of Block during the 2nd quarter worth approximately $366,000. Finally, Mawer Investment Management Ltd. acquired a new position in shares of Block during the 4th quarter worth approximately $3,062,000. Institutional investors own 70.44% of the company's stock.

Block Stock Performance

Shares of XYZ stock opened at $83.58 on Friday. The company has a debt-to-equity ratio of 0.26, a quick ratio of 2.21 and a current ratio of 2.21. The firm's 50 day moving average price is $79.64 and its 200-day moving average price is $70.09. Block, Inc. has a one year low of $48.21 and a one year high of $86.92. The firm has a market cap of $50.21 billion, a P/E ratio of 149.25, a P/E/G ratio of 0.95 and a beta of 2.53.

Block (NYSE:XYZ - Get Free Report) last issued its quarterly earnings data 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 business had revenue of $6.62 billion during the quarter. Block had a return on equity of 8.10% and a net margin of 1.43%.The company's quarterly revenue was up 9.3% compared to the same quarter last year. During the same period in the previous year, the firm posted $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. As a group, equities research analysts predict that Block, Inc. will post 2.69 EPS for the current year.

Analyst Ratings Changes

XYZ has been the topic of a number of recent research reports. Citigroup boosted their price objective on Block from $100.00 to $115.00 and gave the stock a "buy" rating in a research note on Thursday, July 16th. Keefe, Bruyette & Woods boosted their price target on shares of Block from $90.00 to $100.00 and gave the company an "outperform" rating in a research report on Thursday, August 6th. TD Cowen upped their price objective on shares of Block from $101.00 to $105.00 and gave the company a "buy" rating in a report on Thursday, August 6th. Argus increased their price target on shares of Block from $86.00 to $103.00 and gave the company a "buy" rating in a research note on Friday, August 7th. Finally, KeyCorp raised their price target on shares of Block from $105.00 to $108.00 and gave the stock an "overweight" rating in a report on Thursday, August 6th. Three research analysts have rated the stock with a Strong Buy rating, twenty-nine have given a Buy rating and eight have assigned a Hold rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of $95.84.

Insider Buying and Selling at Block

In other news, insider Owen Britton Jennings sold 1,317 shares of the stock in a transaction dated Monday, August 24th. The shares were sold at an average price of $81.48, for a total transaction of $107,309.16. Following the sale, the insider owned 460,128 shares of the company's stock, valued at approximately $37,491,229.44. This represents a 0.29% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Brian Grassadonia sold 8,173 shares of Block stock in a transaction that occurred 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 transaction, the insider owned 513,981 shares of the company's stock, valued at $42,362,314.02. This trade represents a 1.57% decrease in their position. 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 have sold 501,756 shares of company stock valued at $39,582,259 over the last three months. 11.37% of the stock is currently owned by company insiders.

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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