Pallas Capital Advisors LLC Buys New Holdings in Block, Inc. $XYZ

Key Points

• Pallas Capital Advisors acquired 14,225 shares of Block worth approximately $542,000 in the second quarter. Institutional investors collectively own 70.44% of the company.
• Block reported quarterly EPS of $1.02, surpassing the $0.48 consensus estimate, while revenue rose 9.3% year over year to $6.62 billion.
• Analysts maintain a “Moderate Buy” consensus with an average price target of $95.23, while insiders sold approximately $36.9 million of stock over the past 90 days under pre-arranged trading plans.

Pallas Capital Advisors LLC bought a new position in Block, Inc. (NYSE:XYZ - Free Report) in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm bought 14,225 shares of the technology company's stock, valued at approximately $542,000.

A number of other institutional investors have also recently bought and sold shares of the business. Elevation Wealth Partners LLC raised its stake in shares of Block by 301.0% in the 2nd quarter. Elevation Wealth Partners LLC now owns 389 shares of the technology company's stock valued at $30,000 after buying an additional 292 shares in the last quarter. Global Assets Advisory LLC acquired a new stake in shares of Block during the 1st quarter valued at about $31,000. Rachor Investment Advisory Services LLC acquired a new stake in shares of Block during the 4th quarter valued at about $32,000. Cary Street Partners Investment Advisory LLC increased its stake in Block by 57.6% in the fourth quarter. Cary Street Partners Investment Advisory LLC now owns 610 shares of the technology company's stock valued at $40,000 after acquiring an additional 223 shares during the period. Finally, Osbon Capital Management LLC bought a new stake in Block in the fourth quarter valued at about $43,000. Institutional investors and hedge funds own 70.44% of the company's stock.

Insider Activity

In other Block news, CFO Amrita Ahuja sold 8,971 shares of the stock in a transaction dated Wednesday, August 5th. The shares were sold at an average price of $85.85, for a total transaction of $770,160.35. Following the sale, the chief financial officer owned 454,275 shares of the company's stock, valued at $38,999,508.75. This represents a 1.94% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Anthony Mathew Eisen sold 6,000 shares of the firm's stock in a transaction dated Wednesday, August 19th. The shares were sold at an average price of $79.55, for a total transaction of $477,300.00. Following the completion of the sale, the director owned 1,506,672 shares of the company's stock, valued at $119,855,757.60. The trade was a 0.40% 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. Over the last ninety days, insiders sold 470,552 shares of company stock worth $36,906,840. 11.37% of the stock is owned by corporate insiders.

Block Stock Up 1.8%

NYSE XYZ opened at $80.89 on Thursday. The stock's 50 day simple moving average is $78.27 and its 200 day simple moving average is $68.94. Block, Inc. has a one year low of $48.21 and a one year high of $86.75. The firm has a market cap of $48.60 billion, a PE ratio of 144.45, a price-to-earnings-growth ratio of 0.89 and a beta of 2.53. The company has a debt-to-equity ratio of 0.26, a current ratio of 2.21 and a quick ratio of 2.21.

Block (NYSE:XYZ - Get Free Report) last issued its quarterly earnings data on Wednesday, August 5th. The technology company reported $1.02 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.48 by $0.54. The firm had revenue of $6.62 billion during the quarter. Block had a return on equity of 8.10% and a net margin of 1.43%.The company's revenue for the quarter was up 9.3% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.62 EPS. Block has set its FY 2026 guidance at 4.020-4.020 EPS and its Q3 2026 guidance at 1.020-1.020 EPS. As a group, sell-side analysts forecast that Block, Inc. will post 2.69 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of research analysts have commented on XYZ shares. Oppenheimer restated an "outperform" rating and set a $97.00 price target on shares of Block in a research note on Thursday, August 6th. Argus upped their price objective on Block from $86.00 to $103.00 and gave the company a "buy" rating in a research note on Friday, August 7th. Monness Crespi & Hardt increased their target price on Block from $115.00 to $125.00 and gave the stock a "buy" rating in a report on Friday, August 7th. Needham & Company LLC boosted their price target on Block from $95.00 to $100.00 and gave the company a "buy" rating in a research note on Thursday, August 6th. Finally, Truist Financial upped their price target on Block from $82.00 to $93.00 and gave the company a "buy" rating in a research report on Friday, July 24th. Three investment analysts have rated the stock with a Strong Buy rating, twenty-eight have given a Buy rating and eight have issued a Hold rating to the company. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $95.23.

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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