RFG Advisory LLC Boosts Stake in Block, Inc. $XYZ

Key Points

• RFG Advisory increased its Block stake by 485.9% in the second quarter, bringing its holdings to 19,698 shares valued at approximately $1.5 million. 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. Shares opened at $79.25, with a 12-month range of $48.21 to $86.92.
• Analysts maintain a favorable outlook, with a consensus “Moderate Buy” rating and a $95.42 average price target. Meanwhile, insiders sold 378,006 shares worth about $30.4 million over the past 90 days, primarily through pre-arranged trading plans.

RFG Advisory LLC grew its position in Block, Inc. (NYSE:XYZ - Free Report) by 485.9% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 19,698 shares of the technology company's stock after purchasing an additional 16,336 shares during the period. RFG Advisory LLC's holdings in Block were worth $1,497,000 as of its most recent SEC filing.

A number of other institutional investors have also modified their holdings of XYZ. GFG Capital LLC raised its holdings in Block by 6.3% in the second quarter. GFG Capital LLC now owns 39,523 shares of the technology company's stock valued at $3,004,000 after buying an additional 2,351 shares during the period. Allworth Financial LP grew its stake in Block by 19.6% during the second quarter. Allworth Financial LP now owns 6,630 shares of the technology company's stock worth $504,000 after buying an additional 1,087 shares during the period. West Family Investments Inc. purchased a new stake in Block during the second quarter worth approximately $246,000. Waverly Advisors LLC acquired a new position in shares of Block during the 2nd quarter valued at $207,000. Finally, Nykredit A S acquired a new position in shares of Block during the 2nd quarter valued at $11,586,000. Hedge funds and other institutional investors own 70.44% of the company's stock.

Block Stock Performance

Shares of XYZ opened at $79.25 on Friday. The stock has a market capitalization of $47.61 billion, a PE ratio of 141.52, a price-to-earnings-growth ratio of 0.83 and a beta of 2.52. The business's fifty day moving average price is $80.59 and its 200 day moving average price is $72.06. 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, Inc. has a 12-month low of $48.21 and a 12-month high of $86.92.

Block (NYSE:XYZ - Get Free Report) last released its quarterly earnings data on Wednesday, August 5th. The technology company reported $1.02 earnings per share for the quarter, topping the consensus estimate of $0.48 by $0.54. Block had a net margin of 1.43% and a return on equity of 8.10%. The firm had revenue of $6.62 billion for the quarter. During the same quarter last year, the company earned $0.62 EPS. Block's revenue was up 9.3% compared to the same quarter last year. 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 forecast that Block, Inc. will post 2.74 EPS for the current year.

Analyst Ratings Changes

XYZ has been the topic of several research reports. Benchmark raised Block to a "strong-buy" rating in a research report on Thursday. Rosenblatt Securities set a $100.00 target price on Block in a report on Tuesday, June 30th. Royal Bank Of Canada boosted their price target on Block from $93.00 to $95.00 and gave the stock an "outperform" rating in a research report on Thursday, August 6th. Needham & Company LLC upped their price target on Block from $95.00 to $100.00 and gave the stock a "buy" rating in a report on Thursday, August 6th. Finally, Truist Financial increased their price objective on shares of Block from $82.00 to $93.00 and gave the company a "buy" rating in a research report on Friday, July 24th. Four investment analysts have rated the stock with a Strong Buy rating, twenty-nine have given a Buy rating and nine have given a Hold rating to the company's stock. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $95.42.

Insider Activity at Block

In other Block news, Director Anthony Eisen sold 41,000 shares of the firm's stock in a transaction on Wednesday, August 5th. The stock was sold at an average price of $85.85, for a total value of $3,519,850.00. Following the sale, the director directly owned 1,566,672 shares in the company, valued at approximately $134,498,791.20. This trade represents a 2.55% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, 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 43,348 shares of the business's stock in a transaction on Thursday, July 2nd. The shares were sold at an average price of $80.00, for a total transaction of $3,467,840.00. Following 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 sold 378,006 shares of company stock worth $30,430,901 in the last 90 days. 11.37% of the stock is currently owned by company insiders.

Block Profile

Block, Inc is a global technology company that develops financial services and commerce tools for businesses and consumers. Founded in 2009 as Square, the company changed its corporate name to Block in 2021 to reflect the expansion of its operations beyond seller-focused payment solutions.

Through its Square ecosystem, Block provides payment processing, point-of-sale hardware and software, business banking, invoicing, payroll, inventory management and other tools for merchants. Its consumer-focused Cash App offers services that may include peer-to-peer payments, money transfers, investing, debit-card access and bitcoin-related functionality, subject to availability and applicable regulations.

Block also owns Afterpay, a buy now, pay later platform, and has operated additional businesses involving music streaming and bitcoin infrastructure.

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