Lombard Odier Asset Management Europe Ltd Sells 3,897,250 Shares of Block, Inc. $XYZ

Key Points

• Lombard Odier Asset Management Europe Ltd slashed its Block stake by 99.1% in the fourth quarter, selling 3,897,250 shares and leaving it with 35,750 shares worth about $2.33 million.
• Several other institutional investors also adjusted their positions, while institutional ownership remains high at 70.44% of Block’s stock.
• Block reported better-than-expected Q1 earnings of $0.85 per share on revenue of $6.06 billion, and analysts currently rate the stock a Moderate Buy with a consensus price target of $85.42.

Lombard Odier Asset Management Europe Ltd cut its holdings in shares of Block, Inc. (NYSE:XYZ - Free Report) by 99.1% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 35,750 shares of the technology company's stock after selling 3,897,250 shares during the period. Lombard Odier Asset Management Europe Ltd's holdings in Block were worth $2,327,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors also recently modified their holdings of the business. Cary Street Partners Investment Advisory LLC acquired a new position in Block in the third quarter valued at approximately $28,000. Sound Income Strategies LLC raised its position in shares of Block by 57.1% during the 4th quarter. Sound Income Strategies LLC now owns 443 shares of the technology company's stock valued at $29,000 after acquiring an additional 161 shares during the last quarter. Rachor Investment Advisory Services LLC acquired a new position in shares of Block in the 4th quarter valued at $32,000. Rothschild Investment LLC lifted its stake in Block by 59.7% in the third quarter. Rothschild Investment LLC now owns 495 shares of the technology company's stock valued at $36,000 after buying an additional 185 shares during the period. Finally, EverSource Wealth Advisors LLC raised its position in shares of Block by 59.0% in the 3rd quarter. EverSource Wealth Advisors LLC now owns 528 shares of the technology company's stock valued at $38,000 after acquiring an additional 196 shares during the period. Institutional investors and hedge funds own 70.44% of the company's stock.

Insider Activity at Block

In other news, insider Brian Grassadonia sold 8,166 shares of the stock in a transaction dated Friday, May 22nd. The shares were sold at an average price of $68.01, for a total value of $555,369.66. Following the transaction, the insider directly owned 601,002 shares of the company's stock, valued at $40,874,146.02. This represents a 1.34% 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 this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Anthony Mathew Eisen sold 135,750 shares of the stock in a transaction dated Monday, June 1st. The shares were sold at an average price of $76.81, for a total transaction of $10,426,957.50. Following the completion of the transaction, the director directly owned 2,032,990 shares in the company, valued at $156,153,961.90. The trade was a 6.26% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 211,680 shares of company stock valued at $15,861,321 over the last three months. Company insiders own 11.37% of the company's stock.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on XYZ shares. Rothschild & Co Redburn raised shares of Block from a "sell" rating to a "neutral" rating and lifted their price target for the company from $45.00 to $55.00 in a research note on Wednesday, March 18th. Citigroup upped their price target on shares of Block from $85.00 to $100.00 and gave the company a "buy" rating in a report on Friday, May 8th. Oppenheimer reiterated an "outperform" rating and issued a $91.00 price target on shares of Block in a report on Friday, May 8th. Weiss Ratings upgraded shares of Block from a "sell (d+)" rating to a "hold (c-)" rating in a report on Monday, June 1st. Finally, TD Cowen increased their price target on shares of Block from $91.00 to $95.00 and gave the company a "buy" rating in a research note on Friday, February 27th. Four investment analysts have rated the stock with a Strong Buy rating, twenty-six have assigned a Buy rating, five have given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $85.42.

Block Price Performance

Shares of XYZ opened at $74.54 on Wednesday. The firm has a market capitalization of $44.36 billion, a PE ratio of 58.23, a PEG ratio of 0.96 and a beta of 2.56. The company's 50-day moving average is $69.79 and its 200-day moving average is $64.50. Block, Inc. has a fifty-two week low of $48.21 and a fifty-two week high of $82.50. The company has a debt-to-equity ratio of 0.26, a current ratio of 1.99 and a quick ratio of 1.99.

Block (NYSE:XYZ - Get Free Report) last issued its quarterly earnings data on Thursday, May 7th. The technology company reported $0.85 earnings per share for the quarter, beating the consensus estimate of $0.30 by $0.55. The company had revenue of $6.06 billion for the quarter. Block had a net margin of 3.30% and a return on equity of 7.02%. Block's revenue for the quarter was up 4.9% compared to the same quarter last year. During the same period in the previous year, the company earned $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. Equities analysts forecast that Block, Inc. will post 2.42 EPS for the current year.

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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