Odyssean LLC Purchases 20,541 Shares of Block, Inc. $XYZ

Key Points

• Odyssean LLC increased its Block position by 92.4% in the second quarter, acquiring 20,541 additional shares for a total of 42,762 shares valued at approximately $3.25 million. Institutional investors collectively own 70.44% of the company.
• Block reported quarterly earnings of $1.02 per share, beating analyst expectations of $0.48, while revenue rose 9.3% year over year to $6.62 billion.
• Analyst sentiment remains positive, with the stock carrying a “Moderate Buy” consensus rating and an average price target of $95.42, above its reported opening price of $82.83.

Odyssean LLC grew its position in Block, Inc. (NYSE:XYZ - Free Report) by 92.4% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 42,762 shares of the technology company's stock after acquiring an additional 20,541 shares during the quarter. Block accounts for 0.5% of Odyssean LLC's portfolio, making the stock its 23rd biggest holding. Odyssean LLC's holdings in Block were worth $3,250,000 at the end of the most recent quarter.

Several other hedge funds have also modified their holdings of XYZ. BlackRock Inc. purchased a new position in shares of Block in the second quarter valued at $621,703,000. Ameriprise Financial Inc. purchased a new position in shares of Block in the 2nd quarter worth $535,305,000. Norges Bank purchased a new position in shares of Block in the 4th quarter worth $484,387,000. Viking Global Investors LP purchased a new position in shares of Block in the 2nd quarter worth $368,213,000. Finally, Capital World Investors increased 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 worth $1,042,966,000 after buying an additional 4,727,217 shares during the last quarter. 70.44% of the stock is owned by hedge funds and other institutional investors.

Block Price Performance

XYZ stock opened at $82.83 on Friday. The stock has a market cap of $49.76 billion, a PE ratio of 147.91, a P/E/G ratio of 0.88 and a beta of 2.52. Block, Inc. has a 12 month low of $48.21 and a 12 month high of $86.92. The company has a 50-day moving average price of $80.35 and a 200 day moving average price of $71.08. The company has a current ratio of 2.21, a quick ratio of 2.21 and a debt-to-equity ratio of 0.26.

Block (NYSE:XYZ - Get Free Report) last posted its quarterly earnings data on Wednesday, August 5th. The technology company reported $1.02 earnings per share for the quarter, topping analysts' consensus estimates of $0.48 by $0.54. The company 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 business's revenue for the quarter was up 9.3% compared to the same quarter last year. During the same period last year, the company 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 2.72 earnings per share for the current year.

Insiders Place Their Bets

In related news, insider Owen Jennings sold 1,317 shares of the firm's stock in a transaction that occurred on Monday, August 24th. The stock was sold at an average price of $81.48, for a total transaction of $107,309.16. Following the completion of the sale, the insider directly owned 460,128 shares of the company's stock, valued at approximately $37,491,229.44. This trade represents a 0.29% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible 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 the business's stock in a transaction on Monday, August 24th. The shares were sold at an average price of $82.42, for a total value of $673,618.66. Following the transaction, the insider owned 513,981 shares of the company's stock, valued at approximately $42,362,314.02. The trade was a 1.57% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last three months, insiders have sold 384,006 shares of company stock valued at $30,695,321. Corporate insiders own 11.37% of the company's stock.

Wall Street Analyst Weigh In

XYZ has been the topic of several recent research reports. Argus upped their target price on shares of Block from $86.00 to $103.00 and gave the company a "buy" rating in a research report on Friday, August 7th. UBS Group boosted their price objective on Block from $92.00 to $98.00 and gave the stock a "buy" rating in a research note on Thursday, August 6th. Wall Street Zen upgraded Block from a "hold" rating to a "buy" rating in a research report on Saturday, May 9th. Jefferies Financial Group started coverage on Block in a research note on Tuesday, June 30th. They issued a "hold" rating for the company. Finally, Cantor Fitzgerald reiterated an "overweight" rating and issued a $95.00 target price on shares of Block in a report on Thursday, August 6th. Three analysts have rated the stock with a Strong Buy rating, twenty-nine have given a Buy rating and nine have assigned a Hold rating to the stock. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $95.42.

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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