GC Wealth Management RIA LLC Cuts Position in Block, Inc. $XYZ

GC Wealth Management RIA LLC decreased its holdings in shares of Block, Inc. (NYSE:XYZ - Free Report) by 27.0% in the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 44,912 shares of the technology company's stock after selling 16,611 shares during the period. GC Wealth Management RIA LLC's holdings in Block were worth $2,703,000 as of its most recent SEC filing.

Several other large investors have also recently made changes to their positions in the business. Sound Income Strategies LLC boosted its position in shares of Block by 57.1% in the 4th quarter. Sound Income Strategies LLC now owns 443 shares of the technology company's stock worth $29,000 after purchasing an additional 161 shares in the last quarter. Rachor Investment Advisory Services LLC bought a new position in Block during the 4th quarter valued at approximately $32,000. Global Assets Advisory LLC bought a new position in Block during the 1st quarter valued at approximately $31,000. Cary Street Partners Investment Advisory LLC raised its stake in Block by 57.6% during the fourth 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 last quarter. Finally, Darwin Wealth Management LLC purchased a new position in Block during the second quarter valued at $43,000. 70.44% of the stock is currently owned by hedge funds and other institutional investors.

Block Price Performance

Shares of NYSE XYZ opened at $77.19 on Friday. The firm has a market cap of $45.94 billion, a P/E ratio of 60.31, a PEG ratio of 0.96 and a beta of 2.54. Block, Inc. has a twelve month low of $48.21 and a twelve month high of $84.08. The company has a quick ratio of 1.99, a current ratio of 1.99 and a debt-to-equity ratio of 0.26. The company has a 50 day moving average of $74.44 and a 200 day moving average of $67.07.

Block (NYSE:XYZ - Get Free Report) last issued its earnings results on Thursday, May 7th. The technology company reported $0.85 EPS for the quarter, beating the consensus estimate of $0.30 by $0.55. The business had revenue of $6.06 billion for the quarter. Block had a return on equity of 7.02% and a net margin of 3.30%.The business's revenue for the quarter was up 4.9% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.56 earnings per share. Block has set its Q2 2026 guidance at 0.860-0.860 EPS and its FY 2026 guidance at 3.850-3.850 EPS. As a group, research analysts expect that Block, Inc. will post 2.48 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several equities research analysts have commented on XYZ shares. Loop Capital began coverage on Block in a report on Tuesday, March 31st. They issued a "buy" rating and a $75.00 target price on the stock. Royal Bank Of Canada raised their price target on Block from $90.00 to $93.00 and gave the company an "outperform" rating in a report on Friday, May 8th. Canaccord Genuity Group lifted their price target on Block from $80.00 to $85.00 and gave the stock a "buy" rating in a research report on Monday, May 18th. Piper Sandler upgraded shares of Block from an "underweight" rating to an "overweight" rating and upped their price target for the stock from $58.00 to $100.00 in a research note on Monday, June 29th. Finally, Deutsche Bank Aktiengesellschaft upgraded shares of Block to a "buy" rating in a research note on Tuesday, June 30th. Four research analysts have rated the stock with a Strong Buy rating, twenty-four have given a Buy rating and nine have assigned a Hold rating to the company's stock. Based on data from MarketBeat, Block has an average rating of "Moderate Buy" and an average target price of $89.84.

Insider Activity

In related news, Director Anthony Mathew Eisen sold 135,750 shares of Block stock in a transaction dated Monday, June 1st. The stock was sold at an average price of $76.81, for a total value of $10,426,957.50. Following the completion of the sale, the director directly owned 2,032,990 shares in the company, valued at approximately $156,153,961.90. This trade represents a 6.26% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Brian Grassadonia sold 43,348 shares of the business's stock in a transaction dated Thursday, July 2nd. The stock was sold at an average price of $80.00, for a total value of $3,467,840.00. Following the completion of the transaction, the insider directly owned 557,654 shares of the company's stock, valued at approximately $44,612,320. This trade represents a 7.21% 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 have sold a total of 323,300 shares of company stock valued at $24,742,756 over the last ninety days. 11.37% of the stock is currently owned by corporate 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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