Corient Private Wealth LP Buys 37,156 Shares of Block, Inc. $XYZ

Corient Private Wealth LP raised its stake in Block, Inc. (NYSE:XYZ - Free Report) by 24.5% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 188,755 shares of the technology company's stock after acquiring an additional 37,156 shares during the period. Corient Private Wealth LP's holdings in Block were worth $14,345,000 at the end of the most recent quarter.

A number of other institutional investors have also recently modified their holdings of XYZ. BlackRock Inc. bought a new stake in shares of Block during the 2nd quarter worth approximately $621,703,000. Capital World Investors boosted its holdings in shares of Block by 41.8% in the 4th quarter. Capital World Investors now owns 16,023,441 shares of the technology company's stock valued at $1,042,966,000 after purchasing an additional 4,727,217 shares in the last quarter. Geode Capital Management LLC boosted its holdings in shares of Block by 0.5% in the 4th quarter. Geode Capital Management LLC now owns 14,406,899 shares of the technology company's stock valued at $934,121,000 after purchasing an additional 67,560 shares in the last quarter. Norges Bank bought a new position in shares of Block in the 4th quarter valued at $484,387,000. Finally, Contour Asset Management LLC increased its stake in shares of Block by 30.4% in the 4th quarter. Contour Asset Management LLC now owns 4,666,891 shares of the technology company's stock valued at $303,768,000 after purchasing an additional 1,088,299 shares during the last quarter. 70.44% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

XYZ has been the subject of several recent analyst reports. Deutsche Bank Aktiengesellschaft upgraded Block to a "buy" rating in a research report on Tuesday, June 30th. Jefferies Financial Group started coverage on Block in a research note on Tuesday, June 30th. They set a "hold" rating for the company. BTIG Research increased their target price on shares of Block from $90.00 to $100.00 and gave the stock a "buy" rating in a report on Thursday, August 6th. Piper Sandler raised their price target on shares of Block from $100.00 to $105.00 and gave the company an "overweight" rating in a research note on Thursday, August 6th. Finally, Morgan Stanley reaffirmed an "overweight" rating on shares of Block in a report on Wednesday, August 5th. Four equities research analysts have rated the stock with a Strong Buy rating, twenty-nine have assigned a Buy rating and nine have assigned a Hold rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $95.42.

Insiders Place Their Bets

In related news, Director Anthony Eisen sold 6,000 shares of the firm's stock in a transaction on Monday, September 14th. The stock was sold at an average price of $78.96, for a total transaction of $473,760.00. Following the completion of the transaction, the director directly owned 1,404,672 shares of the company's stock, valued at $110,912,901.12. This trade represents a 0.43% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Owen Jennings sold 1,317 shares of the company's stock in a transaction dated Monday, August 24th. The shares were sold at an average price of $81.48, for a total value of $107,309.16. Following the completion of the sale, the insider owned 460,128 shares in the company, valued at $37,491,229.44. This trade represents a 0.29% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 363,913 shares of company stock valued at $29,419,526 over the last 90 days. 11.37% of the stock is currently owned by company insiders.

Block Stock Performance

NYSE:XYZ opened at $78.36 on Wednesday. The stock's 50-day moving average is $80.62 and its 200-day moving average is $72.59. Block, Inc. has a 1-year low of $48.21 and a 1-year high of $86.92. The company has a current ratio of 2.21, a quick ratio of 2.21 and a debt-to-equity ratio of 0.26. The stock has a market cap of $47.08 billion, a P/E ratio of 139.93, a price-to-earnings-growth ratio of 0.83 and a beta of 2.52.

Block (NYSE:XYZ - Get Free Report) last posted its earnings results on Wednesday, August 5th. The technology company reported $1.02 EPS for the quarter, topping the consensus estimate of $0.48 by $0.54. The business 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 firm's quarterly revenue was up 9.3% on a year-over-year basis. During the same quarter in the prior year, the business earned $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. Equities research analysts anticipate that Block, Inc. will post 2.74 earnings per share for the current year.

Block Company Profile

Block, Inc is a global technology company that develops financial services and commerce tools for businesses and consumers. Founded in 2009 as Square, the company changed its corporate name to Block in 2021 to reflect the expansion of its operations beyond seller-focused payment solutions.

Through its Square ecosystem, Block provides payment processing, point-of-sale hardware and software, business banking, invoicing, payroll, inventory management and other tools for merchants. Its consumer-focused Cash App offers services that may include peer-to-peer payments, money transfers, investing, debit-card access and bitcoin-related functionality, subject to availability and applicable regulations.

Block also owns Afterpay, a buy now, pay later platform, and has operated additional businesses involving music streaming and bitcoin infrastructure.

Want to see what other hedge funds are holding XYZ? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Block, Inc. (NYSE:XYZ - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.