Handelsbanken Fonder AB Sells 28,580 Shares of Block, Inc. $XYZ

Key Points

• Handelsbanken Fonder AB cut its Block stake by 13.2% in the fourth quarter, selling 28,580 shares and ending with 188,451 shares worth about $12.27 million.
• Block reported a strong quarterly beat, posting $0.85 EPS versus the $0.30 consensus estimate on $6.06 billion in revenue, while also raising guidance for Q2 and full-year 2026.
• Analyst sentiment remains mostly positive despite some mixed calls: Block has a Moderate Buy consensus rating with a target price of $84.94, though one recent downgrade came from Zacks Research.

Handelsbanken Fonder AB lowered its stake in Block, Inc. (NYSE:XYZ - Free Report) by 13.2% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 188,451 shares of the technology company's stock after selling 28,580 shares during the quarter. Handelsbanken Fonder AB's holdings in Block were worth $12,266,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently made changes to their positions in the stock. Vanguard Group Inc. lifted its holdings in shares of Block by 23.1% in the third quarter. Vanguard Group Inc. now owns 67,626,485 shares of the technology company's stock worth $4,887,366,000 after acquiring an additional 12,709,824 shares during the last quarter. Sands Capital Management LLC boosted its position in Block by 12.2% during the 3rd quarter. Sands Capital Management LLC now owns 11,603,057 shares of the technology company's stock worth $838,553,000 after buying an additional 1,262,317 shares during the period. Capital World Investors boosted its position in Block by 192.7% during the 3rd quarter. Capital World Investors now owns 11,296,224 shares of the technology company's stock worth $816,378,000 after buying an additional 7,436,380 shares during the period. Ameriprise Financial Inc. acquired a new stake in Block during the 2nd quarter worth approximately $535,305,000. Finally, Viking Global Investors LP acquired a new stake in Block during the 2nd quarter worth approximately $368,213,000. Institutional investors own 70.44% of the company's stock.

Block Stock Down 3.1%

Block stock opened at $68.69 on Friday. The company has a debt-to-equity ratio of 0.26, a quick ratio of 1.99 and a current ratio of 1.99. Block, Inc. has a 52-week low of $48.21 and a 52-week high of $82.50. The firm has a 50 day moving average price of $65.66 and a two-hundred day moving average price of $63.75. The firm has a market cap of $40.89 billion, a price-to-earnings ratio of 53.67, a PEG ratio of 0.93 and a beta of 2.57.

Block (NYSE:XYZ - Get Free Report) last released its quarterly earnings results on Thursday, May 7th. The technology company reported $0.85 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.30 by $0.55. Block had a net margin of 3.30% and a return on equity of 7.02%. The firm had revenue of $6.06 billion during the quarter. During the same quarter in the previous year, the business posted $0.56 EPS. The firm's revenue for the quarter was up 4.9% compared to the same quarter last year. 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 analysts predict that Block, Inc. will post 2.4 EPS for the current year.

Insider Activity

In other Block news, CFO Amrita Ahuja sold 30,919 shares of the firm's stock in a transaction that occurred on Tuesday, April 21st. The shares were sold at an average price of $75.00, for a total transaction of $2,318,925.00. Following the completion of the transaction, the chief financial officer owned 500,816 shares in the company, valued at approximately $37,561,200. This trade represents a 5.81% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Brian Grassadonia sold 10,349 shares of the firm's stock in a transaction that occurred on Tuesday, February 24th. The stock was sold at an average price of $50.00, for a total transaction of $517,450.00. Following the transaction, the insider owned 503,784 shares of the company's stock, valued at approximately $25,189,200. The trade was a 2.01% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 50,352 shares of company stock worth $3,445,228 in the last 90 days. 11.37% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on XYZ shares. Citigroup lifted their target price on shares of Block from $85.00 to $100.00 and gave the stock a "buy" rating in a research report on Friday, May 8th. TD Cowen lifted their target price on shares of Block from $91.00 to $95.00 and gave the stock a "buy" rating in a research report on Friday, February 27th. Zacks Research downgraded shares of Block from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, May 12th. Piper Sandler lifted their target price on shares of Block from $51.00 to $58.00 and gave the stock an "underweight" rating in a research report on Friday, May 8th. Finally, Royal Bank Of Canada lifted their target price on shares of Block from $90.00 to $93.00 and gave the stock an "outperform" rating in a research report on Friday, May 8th. Three research analysts have rated the stock with a Strong Buy rating, twenty-seven have assigned a Buy rating, five have assigned a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat, Block presently has a consensus rating of "Moderate Buy" and a consensus target price of $84.94.

Block 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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